Cobalt news
An Overview of the Abu Dhabi Recruitment Market
James Wakefield - Regional Director, Cobalt Abu Dhabi
20/10/2009
It’s fair to say that 2009 hasn’t been a great year for those seeking new employment. The widespread redundancies that started in 2008 have continued to occur as the global economy has bounced along the bottom of the recession. Why then would anyone set up a search firm here in Abu Dhabi in 2009? A good question and one which I’ve been asked slightly less often than “what advice do you have for anyone looking for a job?” I’ll try to answer both of those questions here.
To summarise current market conditions isn’t easy. From the recruitment perspective the real estate and finance industries have been the hardest hit. However, there is not the same over-supply of real estate here that there is in Dubai and as things stabilise this is becoming more apparent. As for the finance sector it is still developing in Abu Dhabi and, notwithstanding global difficulties, it has considerable potential for further growth. Demand for infrastructure remains high here whilst the education, tourism and renewable energy sectors are growing rapidly. These positive local factors are supported by improving international economic conditions and an oil price that is more than double what it was at the turn of the year. It’s therefore reasonable to suggest that what has happened to the Capital’s job market in 2009 has been a ‘blip’ and the signs are there that things are starting to move forward again.
These positive signs are tempered slightly by a number of challenges. For one there continues to be considerable pressure, especially within governmental and quasi-governmental institutions to ‘Emiratise’ (meet quotas for the employment of UAE Nationals). This is a laudable initiative but it does affect the freedom that employers have when recruiting. Another challenge is the huge pool of available talent in the Emirates that at times swamps those looking to hire. The diversity of the workforce in the UAE is another factor; a diverse workforce is a very positive thing. However, identifying the best talent when people have gained their qualifications and experience in every corner of the globe isn’t easy. Overlay this with the fact that some in the UAE are paid inflated salaries (set prior to the global downturn) compared to their peers who have arrived more recently, and understanding who and how to recruit is no easy task.
So what does all this mean and what advice is there for those looking to secure a challenging new role? Well first of all be patient; it’s very natural for the market to stall over the summer and the signs are that the fourth quarter will bring opportunities across a range of sectors. Some will recover more quickly than others but all will yield more positive news. Secondly, be reasonable; things have changed and Abu Dhabi is now a place that people will consider living and working in without the need for a huge premium to be added to their salaries. If those based here already don’t appreciate that then others will soon arrive who do. Thirdly, commit to Abu Dhabi; it’s all very well commuting from Dubai for a while but many businesses in the Capital want people who are committed to helping Abu Dhabi develop, not easy to do if you don’t live here. This will become easier as rents adjust and more residential units are completed.
On a practical front we are often asked for advice on what makes a good CV and the answer to this is straightforward; keep it simple, avoid being too ‘salesy’ and include everything that is relevant and nothing that isn’t. Employers want to see, on the first page, what you are doing now or did most recently. Lengthy profiles, lists of skills or personal qualities, whilst popular with career consultants, will switch most employers off. Similarly over-fussy formatting simply detracts from the key information that you are trying to provide. Present the facts in a clear and simple format and you can’t go far wrong. Be aware also that not including information can often tell as much as including it. The listing of a university degree without a grade may cause some to automatically think “2.2” whilst not listing the exact months in which moves have been made implies that there may be unexplained gaps in a career. Finally, if you live in Abu Dhabi say so, it will answer one of the first questions that many will ask themselves when they pick up your CV.
It has been a tough year for the Capital’s job market but the number of new roles arising, even during August, suggests that better times are not too far away and the demand for professional talent will increase from October onwards as a result. Search firms and individuals wishing to make the most of this will need to appreciate that things have changed. However, if they do then 2010 is looking a lot more promising than 2009 has proved to be.
