75% of UAE companies increase hiring as pandemic recovery accelerates

75% of UAE companies increase hiring as pandemic recovery accelerates
75% of UAE companies increase hiring as pandemic recovery accelerates

A new survey showed that most companies in the UAE expect their revenues to rise by up to 50%, during the next 12 months, with the return of business to recovery strongly, recovering from its lowest levels during the period of the “Corona” pandemic, as executives expect an increase Recruitment and investment rates in employees, to keep pace with the growth phase of the business.

The results of the study, which was issued by HSBC and included 2,000 leading companies around the world, showed that three out of every four companies in the UAE (75%) expect to hire more employees over the next 12 months. While these companies consider the expected competition to attract the necessary and appropriate skills, necessary to implement ambitious growth plans.

“The new HSBC Navigator report on the future of work clearly shows that CEOs believe competition to attract skills is vital,” HSBC Regional Head of Commercial Banking for the Middle East, North Africa and Turkey, Daniel Howlett, said in a statement yesterday. To enhance sustainable profitability, especially as companies return to recovery from the effects of the (Corona) pandemic.”

He added that 90% of the companies surveyed believe that there is a strong correlation between investment in the workforce and business success.

Howlett explained that the companies participating in the study in the UAE, aim to achieve a growth in their revenues of about 25% on average, over the next 12 months, while eight out of every 10 companies (80%) confirmed that they are already investing significantly in hiring more companies. employees, or improving the skills of its current employees, or providing them with the necessary training.

He pointed out that “the business community in the UAE is one of the most dynamic societies in the world, and it adapts quickly to changing work environments, which makes giving priority to employee welfare, training, skills development and flexible work, a clear indication of its keeping up with global trends.”

According to the study, most business leaders (97%), who were surveyed in the UAE, agreed that optimal work arrangements in the future would include some form of remote work, in close line with the views of their global counterparts (95%), while More than half said they support employees by providing digital skills training (52%), while (44%) support providing work-life balance programs to prepare employees for a flexible working future.

The study showed that there are four areas in which Emirati companies focus on improving the skills of their employees, in order to respond to emerging macroeconomic trends, including managing and supporting employee welfare (47%), management and leadership within a mixed work environment (41%), and cybersecurity (40%). and environmental, social and corporate governance frameworks (38%).

future of work

The study indicated that salary is still a key factor in attracting and retaining skills in the UAE, which is what 47% of business leaders pointed to, but executives are increasingly focusing on the opinions of employees who see flexible working arrangements as promoting growth and organizational culture.

The study indicated that managing costs (64%) is the biggest challenge that companies in the country expect in the coming months, but it also expects that a flexible work environment will facilitate managing cost challenges (77%), improving employee productivity (76%) and enhancing profitability (76%). ).

The UAE leads innovation

The HSBC study indicated that Emirati companies are the most trusted, globally, in leading innovation in new products and customer service, with 74% of companies expressing optimism about achieving their priorities of improving customer experience, which is the third highest level in the world after Mexico (77%) and China (77%).

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