The economic tide has begun turning in favour of job seekers in the Emirates, as more employers report hiring staff. But some businesses may be hitting rough waters as top-performing employees drift over to the competition.
"During uncertain times employees tend to stay focused on their roles," says Bronwyn Colgan, a senior associate in the Dubai office of Clyde & Co, a law firm. "What you tend to see when the market starts to become a little more stable is employees looking around for other opportunities. It can seem to some employers that everyone is starting to jump ship."
According to a survey released last month, 59 per cent of employers in the UAE said they were hiring job candidates at the managerial level, up from 46 per cent last quarter.
Almost 70 per cent of companies said they expected to hire more for their professional-level vacancies this quarter, according to data released by Antal, an international recruitment firm with an office in Dubai.
"Employees are looking around for new jobs," says Ms Colgan.
She says this trend can have quite an impact on small and medium-sized business that might have a huge amount invested in just one or two key people.
"In losing some of your key employees to competitors who might take with them some of your clients is particularly damaging when you're a small business relying on a small number of people," Ms Colgan says.
To stem the loss of valuable workers, experts suggest businesses should employ a number of measures. Of course, the major concern business owners have, particularly those that are still struggling, is "how do you create benefits for employees without increasing your overhead costs"? she says.
Some tactics are as simple as communicating the value of existing benefits to employees, who may not know that they are entitled to certain treatments in a company health plan, for instance.
An end-of-service gratuity, which is paid out to an employee in different amounts depending on when they leave their job, is another area that often does not get communicated properly. Companies that update workers on how much more money they might earn if they stay on for certain periods of time may be able to entice some to stay on board longer.
Yet companies should also seek to create long-term incentives, which can be a win-win scenario where both the employer and employee stand to gain. Share-based awards, which tend to be more feasible at large firms in the region, benefit an employee as long as the company performs well.
Employers, for their part, could add in a natural element of retention by stipulating that an employee would lose an entitlement if they resign within a certain time.
"Have the appropriate rewards structures in place," says David Zinn, a senior consultant in the Dubai office of Towers Watson, a consultancy.
Smaller firms may want to create performance bonuses, although if they do, they should have clear targets that are communicated to employees.
For instance, if a company's sales team must increase business by 20 per cent over six months, managers should provide that information to the appropriate workers, along with details of any bonuses that might rewarded.
A growing number of young workers are graduating from high school and university programmes in the Emirates and entering the workforce.
While they may not hold a lot of business knowledge when they first join, they can certainly become valuable members of an organisation in a short period of time.
Good employers, whether in the public or private sector, "understand individual aspirations of those employees and engage them - and give them opportunities for career development," says Mr Zinn.
Holding on to higher-level employees, such as department managers, can seem trickier. But Mr Zinn says keeping an open line of communication so employees can develop helps.
He also notes that having a formal career-development track or training programme can assist in curbing turnover.
nparmar@thenational.ae
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
The specs: 2018 Ford Mustang GT
Price, base / as tested: Dh204,750 / Dh241,500
Engine: 5.0-litre V8
Gearbox: 10-speed automatic
Power: 460hp @ 7,000rpm
Torque: 569Nm @ 4,600rpm
Fuel economy, combined: 10.3L / 100km
Tips to avoid getting scammed
1) Beware of cheques presented late on Thursday
2) Visit an RTA centre to change registration only after receiving payment
3) Be aware of people asking to test drive the car alone
4) Try not to close the sale at night
5) Don't be rushed into a sale
6) Call 901 if you see any suspicious behaviour
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
How much sugar is in chocolate Easter eggs?
- The 169g Crunchie egg has 15.9g of sugar per 25g serving, working out at around 107g of sugar per egg
- The 190g Maltesers Teasers egg contains 58g of sugar per 100g for the egg and 19.6g of sugar in each of the two Teasers bars that come with it
- The 188g Smarties egg has 113g of sugar per egg and 22.8g in the tube of Smarties it contains
- The Milky Bar white chocolate Egg Hunt Pack contains eight eggs at 7.7g of sugar per egg
- The Cadbury Creme Egg contains 26g of sugar per 40g egg
The%C2%A0specs%20
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COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
if you go
The flights
Flydubai offers three daily direct flights to Sarajevo and, from June, a daily flight from Thessaloniki from Dubai. A return flight costs from Dhs1,905 including taxes.
The trip
The Travel Scientists are the organisers of the Balkan Ride and several other rallies around the world. The 2018 running of this particular adventure will take place from August 3-11, once again starting in Sarajevo and ending a week later in Thessaloniki. If you’re driving your own vehicle, then entry start from €880 (Dhs 3,900) per person including all accommodation along the route. Contact the Travel Scientists if you wish to hire one of their vehicles.
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
SERIE A FIXTURES
Saturday Benevento v Atalanta (2pm), Genoa v Bologna (5pm), AC Milan v Torino (7.45pm)
Sunday Roma v Inter Milan (3.30pm), Udinese v Napoli, Hellas Verona v Crotone, Parma v Lazio (2pm), Fiorentina v Cagliari (9pm), Juventus v Sassuolo (11.45pm)
Monday Spezia v Sampdoria (11.45pm)
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Essentials
The flights
Etihad and Emirates fly direct from the UAE to Delhi from about Dh950 return including taxes.
The hotels
Double rooms at Tijara Fort-Palace cost from 6,670 rupees (Dh377), including breakfast.
Doubles at Fort Bishangarh cost from 29,030 rupees (Dh1,641), including breakfast. Doubles at Narendra Bhawan cost from 15,360 rupees (Dh869). Doubles at Chanoud Garh cost from 19,840 rupees (Dh1,122), full board. Doubles at Fort Begu cost from 10,000 rupees (Dh565), including breakfast.
The tours
Amar Grover travelled with Wild Frontiers. A tailor-made, nine-day itinerary via New Delhi, with one night in Tijara and two nights in each of the remaining properties, including car/driver, costs from £1,445 (Dh6,968) per person.
UAE v Ireland
1st ODI, UAE win by 6 wickets
2nd ODI, January 12
3rd ODI, January 14
4th ODI, January 16
What is Genes in Space?
Genes in Space is an annual competition first launched by the UAE Space Agency, The National and Boeing in 2015.
It challenges school pupils to design experiments to be conducted in space and it aims to encourage future talent for the UAE’s fledgling space industry. It is the first of its kind in the UAE and, as well as encouraging talent, it also aims to raise interest and awareness among the general population about space exploration.
Company%20Profile
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Killing of Qassem Suleimani
'Nope'
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UAE currency: the story behind the money in your pockets
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
KILLING OF QASSEM SULEIMANI
Book%20Details
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