83% of UAE finance firms plan to hire in H1

Robert Half survey reveals upbeat picture on recruitment in UAE's financial sector

More than 80 percent of UAE finance executives will be recruiting in both the first quarter and first half of 2013, according to specialist financial recruiter Robert Half UAE.

Based on a survey of 75 chief financial officer and finance directors, first quarter hiring prospects will find 31 percent expanding their departments.

Another 52 percent said they will be maintaining levels by filling roles that have been vacated while only 12 percent of companies will be undergoing a hiring freeze in the first quarter and five percent will reduce headcount.

The Robert Half Financial Hiring Index found that Dubai-based financial leaders plan the most hiring activity in the first quarter with nearly four in 10 (37 percent) anticipating expanding their finance teams and 48 percent backfilling roles for vacated employees.

Abu Dhabi chiefs also said they remain optimistic, with 21 percent expanding and 59 percent maintaining headcount through to the end of March.

Despite increased hiring throughout the UAE, companies said they are struggling to find the requisite talent to manage key initiatives.

Nearly nine in 10 (87 percent) executives said they find it challenging to find skilled financial professionals with financial/management accounting topping the list of the functions most difficult to recruit.

Nearly 90 percent of executives said they are concerned about losing top performers, prompting many to issue counter-offers and/or increased salaries and bonuses.

James Sayer, director, Robert Half UAE said: "The downturn saw the finance function coming to the fore as companies were forced to review processes with the aim of improving efficiencies, finding cost savings and making strategic decisions to facilitate growth.

"As the economy gains momentum, finance professionals, now occupying a place at the decision-making table, will continue to be sought after to drive strategy, process improvement and compliance initiatives.

"With demand outweighing supply, many organisations find it challenging to attract and recruit the requisite talent and are turning to recruitment consultancies and expatriate recruitment to help fill the gap."

According to the survey, confidence levels among UAE executives continue to be strong with 81 percent confident about the country's growth prospects in the coming six months and 92 percent confident in their own company's prospects.

The latter score is up 12 points over H2 2012 levels and three points higher than the index one year ago.

Sayer added: "While some uncertainty exists in certain sectors, most finance leaders have taken the lessons learned during the downturn and are again turning their attention towards growth.

"They are confident in the prospects facing their company in the coming months and are hiring additional permanent staff to help manage rising workloads and growth initiatives."

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Oil slump prompts Gulf states to take shine off cushy government jobs

Oil slump prompts Gulf states to take shine off cushy government jobs

High-paying public sector jobs that demand little of workers...

How an exodus of professional workers is reshaping Qatar

How an exodus of professional workers is reshaping Qatar

Many of the foreign workers who make up the bulk of the 2.5m...

Saudi Arabia puts focus on jobs firmly at heart of reforms

Saudi Arabia puts focus on jobs firmly at heart of reforms

Gulf kingdom plans to spend billions of riyals on technical training...

Most Discussed
  • 5
    How Saudi Arabia blundered into OPEC oil cut

    Before Saudi Arabia's decision to move to unlimited production, analysts broadly thought break-even for shale was usd80. After the move, shale producers... more

    Tuesday, 30 May 2017 12:44 PM - Anastasios Dalgiannakis
  • 2
    One killed, 14 injured in multiple Dubai crashes

    The drivers should pay attention to driving and not their phones, social media is the problem, see it everyday, cars all over the road taking up 2 lanes... more

    Tuesday, 30 May 2017 9:07 AM - Good driver
  • 1
    The cost of the US laptop ban

    US is really making crazy decisions and deals will not help anybody citizens or travellers. confused president and his rules more

    Tuesday, 30 May 2017 9:04 AM - philip butler
  • 19
    It's time for restaurants to stop shaming smokers

    Comparing Driving to Smoking is the most shameless ploy to convince people that we should not persecute smokers.

    If your vehicle hits someone... more

    Thursday, 25 May 2017 12:47 PM - Elkhorn
  • 9
    Revealed: huge disparity in Dubai school fees

    I recall a recent study by Alpen Capital suggesting that the average cost of a child's entire life of schooling in Dubai is about AED 1 million. Although... more

    Monday, 29 May 2017 9:21 AM - New Expat
  • 5
    How Saudi Arabia blundered into OPEC oil cut

    Before Saudi Arabia's decision to move to unlimited production, analysts broadly thought break-even for shale was usd80. After the move, shale producers... more

    Tuesday, 30 May 2017 12:44 PM - Anastasios Dalgiannakis
sponsoredTracking