Dubai financial firms plan strong boost in hiring in H2

Slightly more than half of finance executives in Dubai are planning to recruit more permanent staff before the end of the year, well above the global average, according to a new study by recruiter Robert Half.

The firm surveyed nearly 2,200 finance executives worldwide for its latest hiring index, asking them about their recruitment plans. The survey revealed that 52% of those questioned in Dubai plan to add more staff by the end of this year, which is the second largest percentage in the world behind Brazil (57%), and significantly higher than the global average of 24%.

More than six out of ten of the Dubai executives surveyed said the biggest drivers for increased hiring levels are rising workloads, but 81% claimed they are having difficulty finding people with the requisite skills.

James Sayer, director, Robert Half UAE said: “While some of the larger multinationals are delaying adding to their headcount due to the ongoing uncertainty in the Eurozone, many local companies are hiring in response to strong growth and demand in the region. Regardless of their immediate plans to hire, companies are wanting to meet top candidates for fear that they may miss out, with some creating roles in order to secure the best and brightest.”

Challenged in finding the requisite staff to manage potential growth opportunities, executives are increasingly worried about finding and retaining talented staff with 85% citing concerns over losing top performers to other companies this year.

“The large majority of finance leaders report difficulties when recruiting skilled finance professionals, particularly in the areas of audit, risk, financial planning and analysis and IT finance,” Sayer added. “Companies looking to attract and retain the most sought-after candidates should review their remuneration structures, with tools like the 2012 Robert Half Salary Guide providing guidance and benchmarking information against other companies in the region.”

Prospects for salary rises are also improving with 49% of finance executives expecting to boost wages for existing accounting and finance employees, increasing by an average of 6.97%. Looking at bonuses, 35% expect increases, by an average of 6.35% overall.

August 29, 2012