Dubai Recruitment Trends 2016
The scenario of Dubai has seen a sea change in the last fifty years, there are many reasons, but the main was the oil boom. In spite of the falling oil prices, Dubai is still the one of the highest per capita GDP with USD 44771 and only 20% of the populace are Emirates. The economic meltdown and falling oil prices had an adverse impact on the economy. The decline in Government Spending was another reason. The prospect of holding 2020 Expo has a positive effect on the Dubai economy, and the prolonged recession now seems to be fizzling out. Recruitment Agency in Dubai based companies is picking up.
The Expats Problem
The positive impact means an all round growth and the 93% CFOs feel that the challenge is to secure skilled professionals and 48% reports that the reason is absence of technical expats.
The main problem of Dubai is that most of the workforce is expats. And there is a growing concern among the experts that the rising cost of living, high cost of education and better offers from other international locations can be a real concern for the employers.
The survey report says that around 45% are citing the cost of living and maintaining family is a problem, and the 55% are citing different job-related problems like personal job security 12%, inadequate compensation 10% and long working hours 10% are the prime reasons.
Fighting the Attrition Out
The strategy to fight out the high attrition level is now of prime importance. The recession is now slowly receding and the experience gained in Dubai by the skilled professionals is an added feather to their checkered curriculum vitae, naturally the workforce will migrate to other locations unless some active steps are taken.
About 72% of the HR professionals are concerned that the top performers will move out. The reasons are higher compensation 29%, better scope of career advancement 27%, better balance of working condition 24% better location13% and corporate culture 7% are cited as the motivator.
The Trauma of Attrition
The way to solve the attrition problem involves around retaining the best talents of the company. The statistics cited above clearly indicates that more than half of the respondents 56% are saying that the motivation of moving out is better compensation and career advancement; therefore, there should be a course correction towards higher compensation in some form or other.
The survey result reflects the worries of the HR directors and 72% of them think that it will be a challenge to retain the top performers.
The payment of bonus is a way to invoke rethinking of moving out. Surprisingly, the reaction is a mixed bag, while the 29% of the HR managers are of the opinion that bonuses will increase, 43% opine that bonuses will be frozen and 20% says that they will reduce the bonus.
In Search of a Solution
Dubai will be an interesting case study to the industry watcher and also to the head hunting agencies how the problem will be tackled. There are extreme opinions on the market, some of the companies are increasing the benefits and others prefer to squeeze it further for consolidating the companies’ health while a few are thinking about imparting training and exposures to their existing employees so that they can take up the load and fill in the vacancies. And others are increasing their recruitment budget.
The New Trendsetter
A renowned professional social network is indicating that the social networking sites will play a greater role in the head hunting trends in Dubai. The use of the mobile platform in head hunting is a new frontier in Dubai.
According to the estimate of the professional social network site, the 40% of the head hunters in MENA region had no idea about the Mobile recruitment platform and advised them to incorporate it. It is expected that the renowned professional social networks will play a significant role in the head hunting in Dubai and will be a trend setter.