Job prospects in the Gulf countries are expected to improve this year, according to a key report.
The study found 71 per cent of employers planning to recruit more staff in the next 12 months, with 66pc forecasting increased market activity year-on-year for their businesses.
The Hays 2018 GCC Salary and Employment Report released yesterday also said a significant 40pc of employers increased headcount within their organisations last year, compared with 39pc in 2016.
Diversification
However, the report by the UAE-based consultancy and based on a survey of 4,250 working professionals across the GCC said a third of the organisations reduced their workforces in 2016 and 2017.
“The findings are certainly indicative of what we have been seeing in the GCC employment market,” said Hays Gulf Region managing director Chris Greaves.
“On the one hand, the continued diversification of the local economy, away from its reliance on the oil and gas sector and the increasingly globalised nature of the market have brought many opportunities to businesses in the region who are actively hiring additional staff in order to capitalise on these.
“On the other hand, however, the sustained low energy prices and increasing competition faced by organisations operating in all sectors have resulted in employers taking a cautious approach to recruitment.”
Mr Greaves said Hays noticed many businesses had become more selective in their hiring. “Application processes have, for example, become increasingly rigorous and prolonged in timescale than previous years – with companies committing to the costs of hiring only once they are confident that they have identified the most capable talent, who will add significant value to their organisation.”
Looking ahead, Hays said while it did not expect the number of available jobs to “reach peaks seen in the more buoyant conditions of 2015”, hiring activity is set to increase compared with the past year.
Executive search and sales are two of its busiest recruitment teams, said Hays adding that activity within these is seen continuing with added momentum over the next 12 months.
Much of the demand was from organisations that had previously downscaled and are now looking to hire C-level turnaround specialists who can lead their business into sustained periods of growth.
Mr Greaves said an increasing number of new business ventures being drawn to the region by the tax-free environment and relatively low barriers to entry has led to rising demand for sales professionals with strong industry experience and networks within the region “in order to hit the ground running and secure revenues”.
Hays also predicted an increase in the number of roles within the IT industry, due to a growing focus on e-commerce and digitalisation of businesses across all sectors, and construction and property industries, in response to the growing number of affordable housing projects.
“Regionally, of course, the upcoming introduction of VAT (value-added tax) will also drive new opportunities for tax implementation specialists and there will be growing interest and investment in the jobs market in the build-up to Expo 2020 in Dubai,” he said.
Salary
On salaries, the survey findings for last year were unchanged from 2016 with 39pc of respondents reporting an increase in salary during the year, 52pc reporting no change and 9pc reporting a decrease.
The study also found that last year, 29pc of respondents changed jobs, whereas 55pc had anticipated changing jobs.
For the current year, 51pc are expected to change employers with Hays forecasting that more than 25pc will actually get new jobs.
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