Dubai-based recruitment firm Cooper Fitch has recorded a 147 percent rise in revenue over the last three years and is aiming to expand further around the region and into Europe in the near future, according to its CEO.
“We had a 147 percent growth in three years, in revenue, and we have doubled our headcount in the region. So, I guess, we've had some success,” Trefor Murphy, CEO of Cooper Fitch, told delegates at the recent Arabian Business Startup Academy during a keynote discussion.
The recruitment sector is a good barometer of the overall health of the economy and in February the UAE Central Bank reported that a total of 45,900 jobs were created between January and September 2018, representing a 1.8 percent increase from the same time the year before.
Across the country, the growth of the labour market was found to be stable, growing by 1.6 percent compared to 2.6 percent over the same time period in 2017.
Cooper Fitch itself earlier this year reported that the UAE job market is set to improve in 2019, with hiring forecast to rise by 10 to 15 percent across the country. The sectors likely to benefit the most are the banking and legal sectors, while there is also high demand for developers and programmers.
Murphy took over the company three years after orchestrating a management buyout of the Middle East business of international recruitment firm Morgan McKinley and rebranding it as Cooper Fitch in 2016. Once the non-compete clause in the contract runs out he plans to expand the brand overseas, with Saudi Arabia already on the radar.
“We are in the final stages of opening an office in Riyadh. It is a necessity for us to grow our business. I still have a non-compete [clause] for another 10 or 11 months, not to operate in Ireland or the UK. As soon as that is up, we will put an office in Dublin and possibly outside London,” he said.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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