Other GCC nations are expected to “raise the bar” when it comes to securing the very best workers from across the globe after the UAE announced its intention to be among the top three countries in the world in terms of talent attraction and availability of highly skilled employees.
The UAE Strategy for Talent Attraction and Retention was adopted by the country’s cabinet this week, aimed at strengthening its position as a preferred destination for living, working and investing.
A statement on the state-run news service WAM, said: “Talented residents have been always a crucial part of the UAE journey and achievements, stressing that attracting more talents and creative minds is a key factor of the UAE’s preparation for the future.”
The strategy has three main targets: positioning the UAE among the top ten countries in the global talent competitiveness indices, ensuring talents availability across all strategic sectors and to cementing the UAE image as an ideal destination for living and working.
“For now, the UAE is at the forefront when it comes to policies that help to attract and retain the highest levels of talent. With such a multi-cultural and tolerant society, one of the greatest appeals to foreigners is that whilst most people are visitors, everyone is made to feel at home,” Scott Cairns, managing director of Dubai-based Creation Business Consultants, told Arabian Business.
“We certainly expect other GCC countries to raise the bar when it comes to competing for the highest level of talent, which will be beneficial to all those residing in the region.”
Saudi’s Crown Prince Mohammed bin Salman is driving a strategy to double the size of the capital, Riyadh, while in February it was announced the global companies looking to win government contracts will need to relocate their headquarters to the kingdom.
“Many large multinationals have already signalled their willingness to either locate or relocate their headquarters to KSA which will intensify competition for the region’s best and brightest talent,” said Cairns.
According to a recent survey from Boston Consulting Group (BCG) and Bayt.com, the UAE emerged 13th as the most preferred destination where foreign nationals would like to work, up from the 19th spot in 2018, with the country’s response to coronavirus cited as a key reason for its enhanced attractiveness.
In the same survey, Dubai ranked third in the city rankings, up from sixth in 2018. Abu Dhabi ranked fifth, sustaining last year’s position.
Ola Haddad, director of human resources at Bayt.com, told Arabian Business that UAE companies had announced “thousands of jobs” on the online recruitment portal in the last three months, with further growth expected in the months ahead.
She said: “The UAE, always a favourite work destination, is becoming even more so lately with new strategies being adopted. The UAE Strategy for Talent Attraction and Retention will probably bring many benefits to the job market. It will attract more talent from all over the world, strengthen the country’s position as a global business hub, and boost foreign investment.”
Ola Haddad, director of human resources at Bayt.com
The UAE has introduced a number of measures and policy changes in recent years designed to attract and retain top expatriate talent, including the ten-year visa, retirement visa and remote working visa.
While in January, changes to the Executive Regulation of the Federal Law concerning Nationality were approved allowing investors, professionals, special talents and their families to acquire Emirati nationality under certain conditions.
The country has also relaxed its rules to allow for 100 percent foreign ownership of firms operating outside of freezones, compared with previous requirements of 51 percent local sponsorship.
Cairns, who revealed his company has set up a business incubator in Dubai geared towards the technology sector, said: “The positive impact of government priorities on driving change across the region and influencing workforce priorities is evident. Talent attraction and retention is key for the UAE to remain the business hub of the region all whilst diversifying away from the oil sector.
“Having adequate salary, training, development, and lifestyle balance in place is vital to entice the right calibre of people to the country.”
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