Hays : Growing optimism for the 2018 GCC jobs market

UAEHiring activity has been highly polarised within the GCC jobs market over the past two years but confidence is growing with more consistent and prosperous conditions expected for 2018, according toHays 2018 GCC Salary & Employment Report,released today.

Positively, the report, which was compiled from a survey of over 4,250 working professionals operating in the GCC, found a significant 40 per cent of employers increased headcount within their organisation in 2017 - similar to the 39 per cent who said the same in 2016. However, in contrast, over a third of organisations also reported to have reduced the size of their workforces in both 2017 and 2016.

'The findings are certainly indicative of what we have been seeing in the GCC employment market,' says Chris Greaves, Managing Director of Hays Gulf Region.

'On the one hand, the continued diversification of the local economy, away from its reliance on the Oil & 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. In reference to this, we are noticing businesses being much more selective and considered when they look to add to their headcount. 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.'

2018 market outlook

Positively, the report identifies growing optimism from employers for 2018, with 71 per cent planning to recruit additional staff in the next 12 months and 66 per cent forecasting market activity to increase year-on-year for their business.

'While we do not expect the number of available jobs to reach those peaks seen in the more buoyant conditions of 2015, we do expect hiring activity to increase compared to the past year,' says Chris.

'Two of our busiest recruitment teams cover the Executive Search and Sales markets and we expect activity within these to continue with added momentum over the next 12 months. Much of this demand is borne by organisations who have previously downscaled and are now looking to hire C-level turnaround specialists who can lead their business into sustained periods of growth. Within the Sales profession, the increasing volume of new business ventures being drawn to the region in response to the tax-free environment, relatively low barriers to entry and the UAE's location as a central hub for business, have seen an increase in demand for BD professionals who have strong industry experience and networks within the region in order to hit the ground running and secure sales revenues,' says Chris.

'Beyond these, we also believe there to be an increasing number of roles available within the IT industry, thanks 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 set to take place within UAE and Saudi Arabia.

'Regionally of course, the upcoming introduction of VAT will also drive new opportunities for tax implementation specialists and there will be growing interest and investment in the job market in the build up to Expo 2020.'

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Hays 2018 GCC Salary & Employment Report

The fourth annual publication, released today, covers salary and hiring trends of the GCC in 2017, as well as employee and employer expectations for 2018. To receive your free copy, visit Hays website here or get in touch via the details listed below.

Victoria Alderson

Marketing Manager, Hays Gulf Region

E: victoria.alderson@hays.com

T: +971 4 559 5898

About Hays

Hays plc (the 'Group') is a leading global professional recruiting group and is celebrating its 50 anniversary this year. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 30 June 2017 the Group employed 10,000 staff operating from 250 offices in 33 countries across 20 specialisms. For the year ended 30 June 2017:

- the Group reported net fees of £954.6 million and operating profit (pre-exceptional items) of £211.5 million;

- the Group placed around 70,000 candidates into permanent jobs and around 240,000 people into temporary assignments;

- 24% of Group net fees were generated in Asia Pacific, 49% in Continental Europe & RoW (CERoW) and 27% in the United Kingdom & Ireland;

- the temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees;

- Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Colombia, Chile, China, the Czech Republic, Denmark, France, Germany, Hong Kong, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA