Gulf Firms to hire more in 2012?
By staff - Wed Dec 21, 4:41 am
DUBAI: Growth in the UAE work force has continued at a steady pace throughout 2011 and this is set to continue into 2012 with a a majority of UAE companies forecasting an increase in their headcount, according to the latest review conducted by the Gulf Recruitment Group, one of UAE’s leading executive recruiters.
UAE employers are planning to improve their recruitment strategies for the coming year offering jobseekers a reason to celebrate in the run up to the Christmas season.
The Gulf Recruitment Group’s review found that 93 percent of employers anticipate increasing their head count in the first quarter of 2012 but will be looking at recruiting much more cautiously.
UAE companies including multinationals and leading local companies have expressed strong confidence that 2012 will see accelerated business activity and with this greater hiring in the UAE and the wider region.
“Our market review suggests it will be a good start to the year when it comes to hiring in the UAE,” said Mark Timms, director, The Gulf Recruitment Group.
“Overall, employers anticipate a continued hiring pace compared to 2011, with the brightest job prospects reported by employers in the FMCG, construction and pharmaceutical sectors,” added Timms.
“On the other hand, opportunities in the corporate and retail banking sector are expected to be more challenging while the investment banking sector intends to maintain the same level of employment as the last year. There will however be some good news for candidates seeking careers in the insurance industry though.”
The Gulf Recruitment Group has seen a positive upturn this year with an increase of 46 percent in live mandates received and placed in 2011 compared to 2010 and envisions this to improve significantly throughout 2012.
The construction sector will see increased demand in the first two quarters of 2012 with 17 percent of organizations reviewed having a manpower plan in place for next year. Job openings will be in Project Management and Engineering especially out of the UAE.
“It is very clear that the UAE economy is picking up in various sectors and with significant regional projects being announced, much of the expertise for these projects is being sourced from the UAE. We are already seeing situations where companies are competing for talent, and generally I believe we can expect for growth in Demand and Supply,” said Richard W. Turner, chief executive officer, Ecolog Development and Engineering.
The outlook for hiring in the financial services industry in 2012 is still uncertain across the region.
Toby Simpson, managing director, Gulf Recruitment Group, said: “We have seen the regional banks lending in 2011 at a much better rate than before which does have a positive effect on business growth but with uncertainty over Europe and issues in both China and India the outlook for the interbank credit liquidity in 2012 is perhaps poor. The big question is whether high net worth individuals and leading GCC institutions will put their hands in their pockets again and put money back into the investment arena which will spur asset management, private equity and the regional economy as a whole. This in turn will spur recruitment in financial services.”
With recruitment levels in general set to continue at a steady pace in the coming year, the Gulf Recruitment Group aims to expand throughout the Middle East.
They are looking at Iraq, Qatar and the Kingdom as the key growth markets outside the UAE and although recruitment in the UAE is set to pick up candidates should not ignore expanding their employment geographies.