Middle East Job vacancies increase impressively
A recent Middle East Jobs Index discloses that there was an increase in vacancies for professionals in the Middle East region by 25 percent between the final quarter of 2017 and initial quarter of 2018.
There is an impressive increase in job vacancies that are advertised in the region for the top professional heads in various offices. Moreover, owing to the recent stimuli, there is a stimulating growth market, in all regions and sectors in Saudi Arabia.
Jobs in accounts and finance
At present many Companies of UAE are working regarding the implementation of plans after the introduction of VAT. This has happened in the first quarter of 2018, and has also created jobs in the public practice firms as well as in in-house areas.
The popular roles in this year belong to financial planners, tax managers, analysts and controllers. Furthermore there will be high demand for the qualified candidates who have good experience in Enterprise Resource Planning. An exposure to mergers and acquisitions, will give a boost to their chances. At present, especially in Saudi Arabia, there is a stress on nationalization programs .
Banking and Financial Services Jobs
The banking sector gave a good performance in the Kingdom of Saudi Arabia and also in UAE. Several local banks in UAE had a fair growth as per the quarterly results. The job index shows this sentiment. Furthermore, the Balance sheets are sound, and there is a positive growth in loans. Moreover, there was an increase in the interest rates. These events have created a positive atmosphere for banks.
The international banks have a plan to expand in a big way in Saudi Arabia. There are new offices and a constant expansion in the last six months. These offices need more employees. There is a prediction that that this trend of growth will remain in the second quarter and become steady during the next quarter also.
Positions for western qualified lawyers
Several International companies now realize the importance to have a ground based legal function in the region. This will be better than making use of a legal resource that is off-shore. Furthermore, the regulations in UAE have become strict; there is a huge demand for western qualified lawyers who also have some local experience. The Lawyers who possess two year experience get a good advantage over the lawyers based overseas while competing for work associated with major brands of the world.
Also, Dubai has become an innovation and Fin-tech hub. This is leading towards opening of offices of new companies in the region. Moreover, in turn this movement has helped to create new instructions for legal firms to recruit company as well as in-house lawyers for managing the daily legal affairs internally.
Since January 2018, there is an increase in oil price, which is a welcome sign for the economy of UAE.
The lawyers having adequate experience in mergers and acquisitions and engaged in Oil & gas sector have a good demand here.
Presently there is a boost in the job opportunities in Saudi Arabia. There is a stress to make the 2030 Saudi Vision a success. It has an aim to reduce their dependence on oil, diversification of economy, and also developing infrastructure, tourism, and education. There is a focus on jobs in retail, government, e-commerce and manufacturing sectors. All this is leading to creating new legal positions for government entities and also for global companies.
Recruitment in sales and marketing
During the first quarter of 2018 Recruitment in Sales and marketing was stable. Companies always seek B2B sales professionals, with an ability to speak Arabic, and having a good performance in the Middle East and North Africa region. Additionally, the clients are asking for the marketing roles, for the candidates who have an experience in social media and e-commerce.
Even in the luxury brands there is a good scope as the Dubai Mall is selectively hiring staff who can speak Russian and Mandarin.
Overview of the growth in Saudi Arabia
In the first quarter of 2018 there was a positive increase in the advertised jobs in Saudi Arabia. The Vision 2030 of the government stresses on hiring local nationals and females in all sectors of the industry. Hiring quality Saudi talent is a great challenge for all employers, not only for the local but also for the international companies.
The demand to hire women in Saudi Arabia has also increased. They can serve the finance and sales segments in which previously there was a domination of males. The 2030 vision has helped in the growth of the demand for women.
Outlook for second quarter
In the second quarter even after Ramadan followed by the Eid holidays, there is hope for positive job increase.