Middle East set to create more construction jobs
A survey found 68 Middle East firms will hire for new job positions as attrition rates dip, with the highest number of jobs to be created in the construction sector
Up to 81 recruiters believe new jobs will be created in the Middle East over the next six months, and are confident that skill shortages and attrition rates in the market will reduce.
Findings of the Hiring Outlook Survey, September 2015, carried out by jobs portal NaukriGulf, found 84% of the total 110 employers stating that they are enjoying attrition rates of less than 15% in their organisations.
The survey was conducted among 140 recruiters in the Middle East, of which 79% were employers, and 21% were recruitment consultants.
According to the survey, 49% of the responder companies said they have plans to hire for new positions, while 90% intend to hire in general, or for existing vacant positions.
Up to 84% responders reported attrition under 15% in September 2015, compared to 73% reporting the same in March 2015.
As many as 76% of the employers expect attrition to either remain stable or reduce further over the next six months, compared to 68% sharing this sentiment in March 2015.
Up to 35% of the surveyed recruitment consultants expect the regional construction sector to see the bulk of new job creation.
Employers (60%) also believe the talent crunch in the market has eased over the last six months, with 52% of the employers confident about not facing any skills shortages in the next six months.
This starkly contrasts the 39% responders from March 2015, who stated they were unlikely to face a talent crunch.
The survey found that the maximum talent crunch is felt in the middle management roles (experience bracket of 3-8 years) and among nationalities of Asian origin.
Tarun Aggarwal, business head at Naukrigulf.com, said, "As far as job creation and hiring scenario are concerned, 2015 looks to be a better year than 2014.
"With the recent decline in oil prices, oil and gas, and related sectors, are expected to see a dip in the creation of new jobs.
"However, construction and allied sectors continue to grow, given the build-up towards Dubai Expo 2020, 2022 FIFA World Cup, and increased focus on infrastructure development. The overall economic outlook, hence, remains largely positive," Aggarwal added.
Banking and finance, hospitality, and retail also are strong contenders for new job creation over the next six months.