There's a tendency among misty-eyed nostalgics to look back at the "good old days", when an education was all you really needed to land a good job. But those days are over. The pre-workplace industry - career training - has taken its place at the foundation of the employment process.
Today's teenagers and graduates have a wealth of human and technological aides to guide them through their chosen careers, and there's probably an employee-related fair, seminar, workshop or exhibition for every day of the year.
Increased competition has spurred greater professionalism. In an era in which academic qualifications aren't always enough, universities are placing more emphasis on practical and vocational training to provide students with the requisite skills to compete in the competitive global workplace. There's a strong sense of dynamism, physically and conceptually.
The University of Wollongong in Dubai (UOWD) recently opened its Career Development Centre, staffed by two full-time advisors. The centre houses books, DVDs and computer stations at which students can work on their CVs and search online for jobs. It also organises a series of workshops, career fairs and "Career Ahead", an intensive recruitment-scenario exercise.
The university's president, Rob Whelan, said the choice of a career field is perhaps the single most important decision young men and women will ever have to make.
"It is therefore essential that students get the best tools and tips from experts to enable them to make informed decisions," he said. "Our advisors assist students in finding the right career, as well as provide appropriate contacts in partner organisations in the region for employment opportunities."
Employees don't have a monopoly when it comes to career growth and training; employers want to secure the best talent, and most regional chief executives recognise that human resources are their most valuable asset.
Attending the UOWD career centre launch was Abdul Majid al Khaja, chief executive of the Dubai Road and Transport Authority's Rail Agency, which has allocated a budget of Dh25m to employee career development.
"With proper training and guidance, we are sure each employee will be worth more than Dh25m in the long run," he said.
Technology has been the other singular most significant development in the workplace.
Speaking recently at the Middle East HR Summit, Lynda Gratton, a professor of management practice at the London Business School and a leading authority on people management, urged HR professionals to take stock of regional trends and listen to the next generation ("Generation Y") of business leaders.
In the youth-dominated Middle East, where 50% of the population is under 16, the new wave of graduates is the first generation to embrace IT at an early age.
Today, they are the Facebook generation, as savvy with SMS and surfing the net as the previous generation was adept at manufacturing or assembling.
"Businesses can grow in three different ways. Either through cost-cutting, mergers and acquisitions or, finally, through innovation - and that's where 'Generation Y' can be of great use," Ms Gratton said.
"Technology will be key to the future of business, it will value-add with all of the benefits of cost, speed and flexibility and fully engage those embarking on their career paths."
Zulaikha Mohamed, who obtained her post-graduate certificate in International Management and Education Policy last year, after graduating with concentrations in Arabic history and literature from the British University in Dubai, was considering teaching as a career until she heard about an opportunity at Dubai's Knowledge and Human Development Authority.
Her experience shows you shouldn't discount word-of-mouth and chance - her friend told her about the position, and when Ms Mohamed phoned she was put through to the chief executive by accident - although it's also a good example of making your own luck. Today she's a project manager working with children aged 3 through 12 in Dubai's schools.
"There's a good support network in Dubai," she said. "I never felt I left British University in Dubai, there's always follow-ups and events."
Talent battle
Governments and companies are now putting greater focus on nurturing regional talent in a bid to stem a widespread shortage of skills. The lack of qualified project and programme managers is not only driving industry salaries for technical professionals through the roof, it is also putting many projects in jeopardy, according to ESI International, a company that specialises in training programs for businesses.
Developers are already being squeezed by higher concrete and steel prices, but with escalating salaries to boot, many projects are being delayed, causing profit margins to erode.
Raed S. Haddad, senior vice president of corporate programmes for ESI, said industry leaders in the Middle East cannot simply buy the expertise they need.
"To sustain the current level of development, talent must be produced from within, through training and development programmes."
The sheer scale of all the development is also putting a strain on the viability of some projects, he added, citing ETA Star Group. The company recently announced that the cost of its Dubai Lifestyle City project in Dubailand had increased from an initial $2.4bn to $4bn.
"The significant proportion of that was consultancy fees, which had risen anywhere from 40 per cent to 70 per cent," Mr Haddad said. "However, the fact remains, if there was enough technical expertise in the market competition would drive down market rates."
Organisations are being forced to identify and adopt strategies to develop their existing and future employees, he said. "Programmes to develop individuals that will improve their quality of life and their career prospects are as important as the amount they are paid," Mr Haddad said.
Despite the economic downturn, the Gulf continues to embrace skilled workers with open arms, although for newcomers the motivational forces are often a mix of the positive and negative when it comes to their own personal circumstances. If you want to increase your chances of landing the job of your dreams, contact your university's career placement centre, learn the skills of networking, and keep your ear to the ground.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
Company%20profile
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KILLING OF QASSEM SULEIMANI
A MINECRAFT MOVIE
Director: Jared Hess
Starring: Jack Black, Jennifer Coolidge, Jason Momoa
Rating: 3/5
UAE currency: the story behind the money in your pockets
NO OTHER LAND
Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
Specs
Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
Power: 218hp (Cooper and Aceman), 313hp (Countryman)
Torque: 330Nm (Cooper and Aceman), 494Nm (Countryman)
On sale: Now
Price: From Dh158,000 (Cooper), Dh168,000 (Aceman), Dh190,000 (Countryman)
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
Killing of Qassem Suleimani
Killing of Qassem Suleimani
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
Test
Director: S Sashikanth
Cast: Nayanthara, Siddharth, Meera Jasmine, R Madhavan
Star rating: 2/5
WISH
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Where to buy art books in the UAE
There are a number of speciality art bookshops in the UAE.
In Dubai, The Lighthouse at Dubai Design District has a wonderfully curated selection of art and design books. Alserkal Avenue runs a pop-up shop at their A4 space, and host the art-book fair Fully Booked during Art Week in March. The Third Line, also in Alserkal Avenue, has a strong book-publishing arm and sells copies at its gallery. Kinokuniya, at Dubai Mall, has some good offerings within its broad selection, and you never know what you will find at the House of Prose in Jumeirah. Finally, all of Gulf Photo Plus’s photo books are available for sale at their show.
In Abu Dhabi, Louvre Abu Dhabi has a beautiful selection of catalogues and art books, and Magrudy’s – across the Emirates, but particularly at their NYU Abu Dhabi site – has a great selection in art, fiction and cultural theory.
In Sharjah, the Sharjah Art Museum sells catalogues and art books at its museum shop, and the Sharjah Art Foundation has a bookshop that offers reads on art, theory and cultural history.
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
EU Russia
The EU imports 90 per cent of the natural gas used to generate electricity, heat homes and supply industry, with Russia supplying almost 40 per cent of EU gas and a quarter of its oil.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Top New Zealand cop on policing the virtual world
New Zealand police began closer scrutiny of social media and online communities after the attacks on two mosques in March, the country's top officer said.
The killing of 51 people in Christchurch and wounding of more than 40 others shocked the world. Brenton Tarrant, a suspected white supremacist, was accused of the killings. His trial is ongoing and he denies the charges.
Mike Bush, commissioner of New Zealand Police, said officers looked closely at how they monitored social media in the wake of the tragedy to see if lessons could be learned.
“We decided that it was fit for purpose but we need to deepen it in terms of community relationships, extending them not only with the traditional community but the virtual one as well," he told The National.
"We want to get ahead of attacks like we suffered in New Zealand so we have to challenge ourselves to be better."
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.