Overall online recruitment dropped by 17 percent in the UAE, says Seshadri of Monster.com
The hospitality sector is a beacon of hope for those seeking jobs in the UAE as the latest Monster Employment Index (MEI) reports a 31 percent increase in hiring in the sector from August 2018, even as overall online recruitment dropped by 17 percent in the UAE.
"The increased demand for hospitality talent comes as Expo 2020 fast approaches and the country prepares to host 25 million visitors over a period of six months," Krish Seshadri, the newly minted CEO of Monster.com, APAC and Middle East explained.
Meanwhile, the UAE's oil and gas sector also reported an 18 percent increase in online recruitment, he added.
Hiring trends in GCC
Seshadri, who recently moved into his new role at Monster.com, said that "several GCC countries are going through exciting economic and social reforms which are creating a more vibrant and dynamic career market."
He added, "Looking at the sectors in the region, the latest MEI reveals that the hospitality and retail (including trade and logistics) sectors demonstrated the highest growth in online recruitment from the same period last year, seeing a rise of 18 and 11 percent respectively in August 2019. When it comes to occupations, HR (including administration) and hospitality (including travel) increased by 24 and 20 percent, respectively."
The Stanford University and London School of Business graduate also looked closely at the hiring trends in Saudi Arabia. He told Zawya: "There have been many new and exciting roles in the hospitality sector, which has driven online hiring opportunities by 19 percent in the sector and 33 percent in occupations from the same period last year.
"As the country moves towards a more digital economy, the Kingdom has also seen a 25 percent increase in online job postings in the IT (including Telecom/ISP) sector."
Banking and financial sector
Commenting on the thousands of job cuts announced in the global banking and financial sector in the recent months, Seshadri said that as the region adapts to increasing number of mergers and acquisitions (M&A) within the banking and financial sectors, the industry has become increasingly competitive for job seekers.
According to the MEI data, the banking and finance industry witnessed a 5 percent decrease in online job postings from the same period last year.
Consequently, job seekers will have to upskill themselves "to set themselves apart with specialized skills through post-graduate training courses, internationally recognized certificates, as well as self-development in fintech advancements."
Seshadri expects the same impact even in the Gulf region and a lot of job seekers are likely to head 'back to school' to pick up new skills.
Future of hiring is digital
Having previously worked with tech giants like Zynga, AOL, Facebook in Silicon Valley, Seshadri anticipates "technology to continue to transform the digital recruitment space in the UAE and wider GCC region with more advanced screening and business analysis tools".
In the next few months, he will be focusing on advancing Monster.com’s various services through leading technologies.
"Using online recruitment platforms allows companies to hire employees from all over the world and connect with the new generation of the workforce. The UAE is a country that continues to depend heavily on the expertise of expats, and with the growing competition in the job market, online hiring will continue to be a primary source for talent discovery and candidate screening to varying levels."
The growing role of technology will impact the recruitment journey for both employers and job seekers by making it easier for employees to search and apply for vacancies, while making it easier for recruiters to shortlist applications.
Human resource (HR) teams in the region have been moving towards a more digitized approach to hiring and workforce optimization.
Increasingly, employers are leveraging technology to identify talent gaps in their businesses, sift through large volumes of applications, and even pre-qualifying potential candidates with online tests and artificial intelligence technology.
"Advances in HR-related technology is also helping businesses understand how to maximize the efficiency of a workforce and identify performance patterns of employees, which can help make important decisions regarding the workforce," said Seshadri.