Unwavering flow of investments across multiple sectors and a stable economy gives the job seekers in UAE enough reasons to rejoice. UAE and other countries in the Gulf will have a number of new jobs created in 2016, according to NaukriGulf’s Hiring Outlook Survey.
According to the survey, 90% of the companies based in UAE and the Middle East have plans to hire to refill any vacant position and 49% of the recruiters wish to hire for new positions.
Though the headlines for the past few months talked about job cuts, shrinking revenues and declining oil prices, the scenario is expected to change with 2016 turning its page of calendars. The key driver for job opportunities in the UAE is expected to be the World Expo that takes place in the year 2020.
UAE is the Most Attractive Countries to Live and Work In
Well-positioned with job opportunities each day, UAE is considered as one of the most attractive countries to live and work in. The country with rapid progress and new investments along with key events like World Expo-2020, the UAE is a hub that offers a number of opportunities both at the entry and experienced levels.
Good business conditions is also one of the prime reasons for a positive hiring outlook in 2016.
If you are out there looking for a job, you need to be updated which jobs you should look for in 2016:
The continuous business evolution in the Middle East Countries including the UAE is fuelling demands for HR Professionals. These professionals should be able to help develop and upskill the existing human resources and make sure they align with business operations and are productive.
Companies in the UAE require HR specialist that can help them align with their European counterparts. The companies in UAE are looking for professionals who have a background and experience with multinational corporates.
The major industries showcasing demands for talented HR professionals are:
– Investment Firms
Companies that fall under the above sectors are most likely to develop the teams to look forward to a positive revenue growth. Hence there is the need of HR to fill the vacant positions and to ensure compliance.
The companies need administrative support this year. The increase in the number of supporting staff in an organization goes hand in hand with projected growth as the organizations seek to increase its business development and sales professionals to increase customer engagement. The increase headcount in the number of executive assistants is fuelled by emphasis on improving customer service across globe. This is common across all sectors.
Companies for this position mostly look out for candidates with mid-level experience. This year is no different. For sales manager, the companies are filling positions with mid-level experienced professionals and some with managerial skills.
With the increasing infrastructure developments in the country, the companies in the UAE definitely are in need of mechanical engineers. 15% of the employers are in need of mechanical engineers especially in the infrastructure sector.
Companies are generally filling gaps when it comes to accounting financials. 93% of the CFO’s believe that is a difficult task to hire the right talent when it comes to hiring accounting professionals. Hence there almost remains a vacant position that needs to be filled. Professionals with knowledge of Oracle and SAP have an edge over others. Also accounting professionals that are experienced with accounting standards US GAAP, IFRS and SOX are in demand.
Technology has a major role to play in developing finance departments. Since this niche will have a lot of investments creating maximum new job opportunities. The skills and qualifications that are in demand for finance professionals include:
– ACA, ACCA and CIMA qualified
– Multinational corporation experience combined with 3–5 years’ industry-specific experience
Major positions that will attract finance professionals in 2016 will include Chief financial officers, regional financial directors, financial controllers, management and financial accountant.
Risk Management Professionals
The agenda of risk and compliance continues to dominate the financial services industry of the UAE. This has been driven by the increasing regulatory demands and growth in crimes like financial and cybercrime. Risk management has become an integral part of every business and hence there is a proportional demand for skilled professionals. The companies demand professionals that have experience in anti-money laundering, regulatory investigations and compliance.
The main skills that get a risk management professional hired are multinational corporation experience, financial regulation experience (FSA, MAS, PRA, FINRA, Islamic Finance), experts in complex risk modelling and trading algorithms, ACII qualified, accounting software experience (Oracle, Hyperion, SAP), western university degrees with fluency in Arabic.
The UAE is one of the fastest growing adopters of enterprise resource planning (ERP) software platforms. Companies are executing ERP software to boost international competitiveness and transparency. This is driving demand for professionals with Oracle and SAP experience in particular. IT professionals are now being called on to chief technology initiatives having a stronger focus on user experience.
IT professionals are required to be able to work closely and communicate with the business, advising on and staying ahead of developments, big data, cloud, mobile and cyber security. IT skills and qualifications in demand reflect these plans for expansion, and professionals with mobile, cloud and infrastructure skills are becoming increasingly scarce, while IT security experts who can help protect their organisations from attack are also highly valued.
The Expo Win 2020 is leading to region’s growth and has increased investments in the property market. This is sure to create a positive impact on the legal sector. Hence legal professionals with an experience in real estate or construction market are particularly in demand.
Other than this, there is an additional trend for corporates to seek cost efficiencies by strengthening their internal legal departments to reduce their reliance on external counsel. Companies that are hiring internal legal professionals are looking out for lawyers with litigation and compliance experience.
Multi-lingual paralegals and document assessors are in particular demand as legal teams look for support with reviewing contracts and documents in both Arabic and English.
On a Concluding Note
When compared to countries present in the Middle East, UAE is home to top cities that forecasted employment growth. The above mentioned jobs might be the most sought after in 2016, but there are a number of more opportunities that can knock your door in 2016.
Image Source: vision.ae