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More jobs, lower salaries
‘There is competition, but the jobs are there’, says Bayt.com
April 24, 2014 5:57 by Nasreen Rasool
A recent Job Index survey by Bayt.com reveals that companies are hiring in the lead up to Expo 2020, but salaries are not as high as they used to be. This was discussed at the Bayt.com leadership seminar, held today (Thursday, April 24), at Careers UAE 2014.
According to Saha Haroun, regional Sales and HR Director at Bayt.com, the aim of the seminar was to understand and discuss the impact of Expo 2020 on employers and employees in the region. She says the general sentiment of people in the region is improving. Employers are hiring in the next three months and in large quantities. The Job Index showed that 77 per cent of employers looking to hire ten positions or more.
“A key concern that came out was whether this was going to be a re-run of the recession. Companies admitted that they were hiring with high salaries back then because they needed the talent, but that’s not going to be the case moving forward. Companies need to pay people what they can afford and what is equivalent to market standards, so that they can pay their bills,” says Haroun.
She adds that, despite this, salary is no longer a deal breaker in the region. “People want to stay for development and a greater purpose. Before it was a short-term plan, but Expo 2020 is just an event, we need to be around for and after it.”
According to the Bayt.com Job Index, the top three industries that people want to work in now are hospitality, banking and construction, which, according to Haroun, will all benefit from the normal growth of the region as well from Expo 2020.
“Fresh graduates want a completely different lifestyle. They want to see companies that are involved with community activities and innovation,” she says.
The panel for the discussion at the Bayt.com leadership seminar included high-profile members from the construction industry, the hotel industry and other recruitment companies, such as Oracle. Alongside this, the event saw more than 160 exhibitors and thousands of young career seekers, proving that there is a demand for jobs among UAE nationals. An impressive female turnout was noted on Wednesday, April 23, as Emirati women are now redefining themselves and breaking borders in frontline roles.
The Monster Employment Index was also released this week, which is a monthly gauge of online job posting activity in Middle-East based on a real-time review of tens of thousands of employer job opportunities taken from a large representative selection of career websites and online job listings. It reveals that while hospitality is still a popular industry to work in, it hasn’t grown much in the past year. IT and Telecoms had the sharpest decline in growth.