Top talent in the Middle East will require "double-digit salary increases" to switch jobs in 2020 with the high demand triggered by key projects linked to Saudi Arabia's Vision 2030 initiative, a new regional recruitment report found.
The talent squeeze in the kingdom is triggered by high demand for professionals and competition between major projects, according to The 2020 Middle East Salary & Skills Guide from global recruitment consultancy Michael Page, which operates in 36 countries.
“Salary-wise, despite increasing operating costs being a regional concern, the best candidates still require double digit salary increases to move jobs,” Pierre-Emmanuel Dupil, senior managing director, PageGroup Middle East & Africa, said in the report.
Saudi Arabia is implementing a number of measures as part of its economic diversification plans under Vision 2030, which aims to create more jobs for citizens by developing non-oil industries and attracting them to the expatriate-dominated private sector.
While the kingdom was “the steering economic engine” driving recruitment in the Middle East, and hiring picked up “slightly” in the UAE, there was also a rise in new hires across the region owing to a relatively stable oil price, the study found.
“While the hiring activity has been supported by consistent public investments, mainly in Abu Dhabi and Saudi Arabia, we also noted positive signs from the private sector in both markets,” the report noted.
These include a growing demand for national candidates in the UAE and Saudi Arabia in the public and private sectors, including from multinationals.
The unemployment rate among Saudi citizens dropped to 12 per cent in the third quarter of last year — its lowest levels in more than three years — as the kingdom's non-oil growth picked up. This was down from 12.3 per cent in the previous quarter, according to the General Statistics Authority.
Sector-wise, retail, fast moving consumer goods (FMGC) and luxury saw a pickup in recruitment activity in 2019 in preparation for this year’s Expo 2020 event in Dubai. However, financial services showed signs of a slowdown due to major consolidation in the market.
Classic support roles such as finance, procurement and supply were stable in terms of recruitment activity, with new hires geared towards junior and mid-manager profiles.
Meanwhile, demand for IT talent, especially data and digital experts, increased significantly over the past 12 months — in line with similar hiring increases seen in 2017 and 2018 — as companies sought out new digital avenues to boost revenue streams.
Demand for legal and consultancy candidates rose in 2019, said Michael Page, because of specificities and challenges, while demand also ramped up for property and construction professionals as key projects tied to Saudi Arabia’s Vision 2030 got under way.
MATCH INFO
Fixture: Thailand v UAE, Tuesday, 4pm (UAE)
TV: Abu Dhabi Sports
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
COMPANY%20PROFILE
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
RESULTS
6.30pm: Handicap (rated 100 ) US$175,000 1,200m
Winner: Baccarat, William Buick (jockey), Charlie Appleby (trainer)
7.05pm: Handicap (78-94) $60,000 1,800m
Winner: Baroot, Christophe Soumillon, Mike de Kock
7.40pm: Firebreak Stakes Group 3 $200,000 1,600m
Winner: Heavy Metal, Mickael Barzalona, Salem bin Ghadayer
8.15pm: Handicap (95-108) $125,000 1,200m
Winner: Yalta, Mickael Barzalona, Salem bin Ghadayer
8.50pm: Balanchine Group 2 $200,000 1,800m
Winner: Promising Run, Pat Cosgrave, Saeed bin Suroor
9.25pm: Handicap (95-105) $125,000 1,800m
Winner: Blair House, James Doyle, Charlie Appleby
10pm: Handicap (95-105) $125,000 1,400m
Winner: Oh This Is Us, Tom Marquand, Richard Hannon
match info
Southampton 0
Arsenal 2 (Nketiah 20', Willock 87')
Red card: Jack Stephens (Southampton)
Man of the match: Rob Holding (Arsenal)
The%20specs
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UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
THE SPECS
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Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
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Jetour T1 specs
Engine: 2-litre turbocharged
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Torque: 390Nm
Price: From Dh126,000
Available: Now
Russia's Muslim Heartlands
Dominic Rubin, Oxford
Tonight's Chat on The National
Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.
Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster who has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others.
Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
- Coastal protection: Reduce erosion and improve water quality
Match info
Manchester City 3 (Jesus 22', 50', Sterling 69')
Everton 1 (Calvert-Lewin 65')
KILLING OF QASSEM SULEIMANI
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
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
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The specs: 2018 Mercedes-Benz E 300 Cabriolet
Price, base / as tested: Dh275,250 / Dh328,465
Engine: 2.0-litre four-cylinder
Power: 245hp @ 5,500rpm
Torque: 370Nm @ 1,300rpm
Transmission: Nine-speed automatic
Fuel consumption, combined: 7.0L / 100km
Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
