Emirati employees are becoming increasingly drawn to careers in the private sector, with the potential for growth an important factor, industry insiders have told The National.
Thousands flocked to Dubai World Trade Centre for the Ru'ya Careers Fair, in which 180 companies in the private and public sectors took part.
Eman Al Bastaki, group head of Emiratisation and government relations at AW Rostamani Group, said private companies face stiff competition to attract young Emiratis.
“There is huge competition between companies. We have to attract them with positions and good salaries,” Ms Al Bastaki told The National.
“Their mentality is more open now and they are willing to be part of the private sector.”
Keen on progression
Ms Al Bastaki said Emiratis want a clear idea of their prospective employer's vision.
“We have to keep their passion in their jobs and give them a clear plan of their future,” she said. “A comfortable work environment is a tool to attract them.
“If they feel there is any negligence by the company, then they will search for a job in another company. The challenge is how to keep them working in the company for many years.”
More Emiratis than ever want to work in the private sector, she added, noting the role that the government has played in this drive.
“Emiratis are more aware of the importance of the private sector,” she added. “The prospect of career growth in the private sector is what's attracting young jobseekers.”
National vision
The government is stepping up the nationwide Nafis programme, introduced in 2021, to ensure Emiratis make up 10 per cent of the private sector workforce by the end of 2026.
Companies must increase their Emirati workforce by 1 per cent every six months as part of the scheme.
Employers in the UAE with at least 50 members of staff were required to meet a 4 per cent target by the end of 2023. As a result, the Emirati employment rate will increase to 8 per cent by the end of 2025, and 10 per cent in 2026.
Manal Matar, head of employee experience and HR digitalisation at du, told The National that young Emiratis are looking for roles offering training and flexibility.
“They are looking for jobs in a secure and comfortable work environment. They also want training and experience,” Ms Matar said.
“We want to attract graduates and Emiratis with experience. We have three programmes focusing on young students in high schools to build their mentality about the workplace and career development.”
Hussain Sajwani, from Sharjah, graduated in IT this year. “Our generation is very passionate [about] working in any sector, it doesn't matter if it is private or public,” he said.
“We strive to work and build our career. The challenge is the person's own willingness and passion to work.”
Hamdan Al Suwaidi, 21, recently finished his national service and came to the jobs fair for the second year looking for opportunities.
“Private sector companies have some negative sides, like long working hours,” he said. “I can’t get a job in the public sector because they ask for a degree so I’m searching for semi-government jobs.”
Demand for public roles
Meera Al Shamsi, 30, is a regular visitor to the fair despite having a sales job at a private company.
“I want to get a job in the government sector. Despite the Nafis programme, public sector jobs are more secure and stable,” Ms Al Shamsi said.
However, she added, her experience in the private sector could prove valuable in her search for work in government.
“Public sector employers look for experience in the jobseeker and we can gain that by working in private sector.”
Mahra Al Mahri, having worked in sales for a semi-government company for the past eight months, agreed.
“Both private and public sector roles are attracting Emiratis now, but having a job in the government sector can make you feel more secure,” she said.
Her parents did not want her to work in sales, but she says the experience was positive. “I gained experience and knowledge by developing my communication skills,” she said.
Ru'ya Careers Fair - in pictures
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UAE currency: the story behind the money in your pockets
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Flavour: Similar to goat’s milk, although less pungent. Vaguely sweet with a subtle, salty aftertaste.
Texture: Smooth and creamy, with a slightly thinner consistency than cow’s milk.
Use it: In your morning coffee, to add flavour to homemade ice cream and milk-heavy desserts, smoothies, spiced camel-milk hot chocolate.
Goes well with: chocolate and caramel, saffron, cardamom and cloves. Also works well with honey and dates.
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Company profile
Name: GiftBag.ae
Based: Dubai
Founded: 2011
Number of employees: 4
Sector: E-commerce
Funding: Self-funded to date
Astroworld
Travis Scott
Grand Hustle/Epic/Cactus Jack
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
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Rating: 3/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Classification of skills
A worker is categorised as skilled by the MOHRE based on nine levels given in the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.
A skilled worker would be someone at a professional level (levels 1 – 5) which includes managers, professionals, technicians and associate professionals, clerical support workers, and service and sales workers.
The worker must also have an attested educational certificate higher than secondary or an equivalent certification, and earn a monthly salary of at least Dh4,000.
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UK’s AI plan
- AI ambassadors such as MIT economist Simon Johnson, Monzo cofounder Tom Blomfield and Google DeepMind’s Raia Hadsell
- £10bn AI growth zone in South Wales to create 5,000 jobs
- £100m of government support for startups building AI hardware products
- £250m to train new AI models
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
