Expo 2020 will Create 500,000 Jobs in the UAE

Expo 2020 will create 500,000 jobs, with residents living in a large community within the city, according to the statement. The development was initially planned as an airport city to serve Al Maktoum International, the world’s largest greenfield airport development with a design capacity to handle 220 million passengers and 16 million tons of cargo per annum with five runways, six terminal buildings.

The combined value of Expo 2020-related development projects has reached $33 billion (Dh121 billion), as the UAE begins the three-year countdown to the event, according to BNC Network.

These projects include transport infrastructures, such as the expansion of the road networks, several highways, roundabouts, interchanges, and the Dubai Metro line set to connect the Dubai Expo 2020 site and Al Maktoum International to the rest of the city.

According to BNC Projects, a project research firm, the $33 billion also includes mixed-use projects, golf courses, and residential, commercial, and hospitality developments.

Mostly located at Dubai South, the 145-square kilometre mixed-use development with Al Maktoum International at its centrepiece, most of these projects are all expected to be completed before Expo 2020.

“As it stands, Dubai is getting ready to host the Expo 2020 and the emirate is way ahead in terms of its readiness. The mega event is taking place in the Middle East for the first time ” said Avin Gidwani, Chief Executive Officer of BNC Network.

“While driving past some of the major highways, one would notice the hectic construction activities on the highways and both sides of these highways, reflecting the pace of development work in the emirate. Most of the projects are on a fast-track basis, intended to expand the hotel inventory,” he added.Dubai South has been divided into separate functional districts, such as the logistics district, linked to Al Maktoum International to create a mega-cargo hub, which, along with the Jebel Ali Port and Jebel Ali Free Zone, will create one of the world’s largest sea-to-air logistics corridor.

The 21 square kilometres long logistics district is designed to enable fast-cycle businesses and assist value-added services such as manufacturing and assembly.

It also will host the Dh25 billion residential district, with a building capacity for 1,100 low to mid-rise buildings that cover a 715 hectares area and expected to accommodate 250,000 residents, when complete.

The commercial district is expected to provide employment opportunities for an estimated 150,000 people. It will consist of over 850 commercial towers with three to five-star hotel lodging.

An exhibition district that will host the World Expo 2020 site, will be spread across 4.38 square kilometres dedicated to the exhibition, and meetings, incentives, conferences and exhibitions (MICE) industry.

Expo 2020 and VAT creating more Jobs in the UAE

Expo 2020 and the introduction of value-added tax in January 1st, 2018 have brightened the outlook for new hiring in the UAE. The recruitment climate is believed to have standstill, the new changes will turn the employment sector and create new opportunities in accounting and finance segment.

"There are some emerging trends that are creating a resurgence in the hiring climate. One of these is the build-up to Expo 2020, which is accelerating the outlook for new hiring. Another is the proposed introduction of value added tax [VAT] in 2018 and potential changes to corporate tax that are still in discussion. Both of these initiatives will drive demand for tax specialists and management accountants in the lead-up to their introduction and after, creating a stronger demand for financial professionals who can help organisations deal with the changes new tax regimes will introduce," said Gareth El Mettouri, associate director at Robert Half Middle East.

According to Suhail Masri, vice-president of employer solutions at Bayt.com, the hiring forecast shows a continuation of a strong job market in the UAE and the prospect of many more job openings to come. A recent Bayt survey revealed that more than a third - 36 percent - of those planning to hire in the UAE are looking to hire for more than five job roles.

Jobs in demand

The report says most of the demand will be for CFOs, financial controllers/accountants, finance directors/managers, financial planning and analysis specialists in the accounts and finance sector. Those candidates with knowledge and skills of Oracle and SAP systems, effective communications, advanced Excel, MBA, Islamic finance knowledge and ACA qualified will be much in demand.

Most of the demand for these jobs will come from pharmaceutical, FMCG, retail, hospitality, construction and boutique investment firms.

In the financial services industry, most positions in demand will be institutional sales specialists, wealth/private banking sales professionals, regulatory and compliance officers, anti-money laundry specialists and brokers, according to the Robert Half report.

Candidates possessing multinational banking experience, speaking fluent Arabic, existing local client relationship, financial crime and sanctions expertise will be mostly in demand from the financial services companies.

In the technology sector, according to Robert Half, the companies will be mainly looking for candidates for the positions of ERP application and functional experts, project managers, business partners, sales director and managers and IT security managers. Candidates having experience of project management infrastructure and application rollouts, new platforms such as the Internet of Things and convergent technologies and user and customer experience will be in demand.

In the human resources department, companies will be looking for recruitment specialists, payroll managers, HR officers, senior HR director and learning and development directors. Candidates possessing commercial acumen, knowledge of SAP and Oracle, change and people management, multinational and corporation expertise will be in demand.

For legal jobs, the companies will be scouting to fill the posts of senior regional counsel, corporate and commercial lawyers, junior counsel and paralegals. Candidates applying for these posts will have to be Western educated with GCC experience, Arabic drafting expertise and effective English communication skills.

In the accounts and finance industry, 89 percent of CFOs predicts that they will either maintain the size of their permanent teams and fill vacated positions (49 percent) or expand by adding new positions (40 percent). Only four percent of companies said that they would reduce their finance teams.

Greater demand creates greater competition, and 89 percent of finance leaders report that it is challenging to find skilled professionals today. Almost half (49 percent) say that the shortage is mainly caused by the current lack of niche, technical experts, while 21 percent pin it on a scarcity of commercial and business skills, and 17 percent say that general demand simply outweighs supply.

The majority (85 percent) of CFOs are concerned about losing top financial professionals to other job opportunities in the year ahead. On average, employers predict that salaries for accounting and finance professionals will rise by 5.8 percent. Bonus payments are following a similar trend.

Only eight percent of CFOs said that they would lower bonuses, compared with 35 percent who said that payments would rise and 45 percent who said that bonuses would remain static. Annual bonuses are being awarded on the basis of personal performance, and they average one to two months' salary. According to Robert Half, the strongest demand is for mid-level finance professionals with five to seven years' experience.

The report's findings revealed that new technologies continue to drive demand for skilled IT professionals in the UAE, especially in ERP platforms and mobile.

Mid- to senior-level IT professionals are in particular demand and are commanding competitive salaries, it said.
Ali Matar, Head of LinkedIn Talent Solutions, Emerging Markets, Middle East & North Africa, said the next wave of digital jobs will be shaped by the 'Essential Eight' technologies: blockchain, 3D printing, drones, virtual reality, augmented reality, the Internet of Things, robotics, and artificial intelligence. "GCC governments can lead by example through championing the digitization of public institutions. GCC governments should partner with technology players, educational institutions, and the corporate sector to boost supply and create demand in the digital job market," Matar said.

The Robert Half study predicts that the biggest beneficiary in terms of salary hike in accounting and finance industry will be tax directors, getting 6.5 percent pay hike, followed by FP&A manager at 5.1 percent, financial controller at 4.9 percent, and tax manager 4.7 percent.

In the financial services industry, private equity and asset management executives will see 10.5 percent salary hike followed by CFOs at 7.8 percent.

In the technology sector, IT managers will see the biggest hike between seven and eight percent increment followed by system managers at 6.5 percent. In the human resources and administration, salaries are projected to rise up to 7.1 percent for the head compensation and benefits department.

In the legal sector, salaries of partners, paralegal and legal assistant will see the biggest hike of 7.1 percent, 6.8 percent and 6.7 percent, respectively. According to Bayt's survey, industries that offer the best salary packages included banking and finance (22 percent), aerospace and aviation (14 percent), and engineering/design (12 percent).

Bayt.com's Suhail Masri said that although more than half of respondents - 52 percent - to the regional survey were satisfied with their salaries, the majority of respondents to also agreed that the cost of living has been increasing and will continue to do so over the years ahead. This means that they are in need of salaries that reflect the increased costs.

At the same time, 39 percent of respondents to Bayt's survey claimed that their loyalty to their company is not linked to the salary they receive.

LinkedIn HR exec shares the No. 1 Mistake people make Interview

Job seekers know that making a good first impression in an interview is important. But leaving a positive, lasting impression is just as significant, if not more so.

The best way to make sure an interviewer remembers you well past the conversation is to always ask questions at the end — something many job applicants don't do, says Brendan Browne, the global head of talent for LinkedIn.

"If people don't have questions, that's a concern," Browne tells. In fact, he says that it's the No.1 mistake he sees people making during the hiring process.

"It's sort of impossible to not have questions," says the HR exec. "You won't get everything in a 45-minute interview that you need."

Asking questions shows that you have been paying attention during the interview and that you are eager to learn more about the company, says the head of global talent.

Browne explains that when a prospective candidate doesn't ask questions, it raises red flags.

"Is this emblematic of not being inquisitive or collaborative?" he says. "Questions are one of the most important things."

Browne gives pointers on questions you can ask: "Ask about [the interviewer's] experiences. What challenges do they face? What's next for the company and what's up ahead?"
This final segment of your interview can either make you a front-runner for the job or significantly hurt your chances. In a nutshell, it's your last chance to truly show that you were engaged and demonstrate that you are already thinking about the company's future and how you fit into the business.

However, one question you shouldn't bring up right away is salary, says Browne, who warns that you should not discuss money early on in the conversation.

"There are a time and a place to bring it up," says Browne.

As the head of global talent at LinkedIn, Browne says that alignment with the company is the most important thing that he looks for. Constantly asking about pay, he says, slows down the interview process and is a turnoff for the hiring manager.

The HR exec notes that salary is an important discussion to have, although it's really all about when you choose to bring it up. The first interview is probably not your best bet, he says.

In fact, Browne says that when compensation is brought up too early and too frequently during the hiring process, he usually responds by saying, "If that's the most important thing, this may not be the right place for you."

"We pay well," he adds."But what keeps people here is helping us execute on very important decisions. Don't bring [money] up early."

Advanced Micro Devices(AMD) to hire 500 Engineers in India




American multinational semiconductor company Advanced Micro Devices is planning to expand its team in India nearly 40% by hiring 500 engineers to strengthen its focus on new technologies including augmented reality and virtual reality (AR and VR). In addition to this, the company is also looking to reskill its employees in AR and VR. “We are looking at AR and VR for now. We will hire fresh talent, but also we are heavily investing in upskilling and reskilling our existing employees to contribute to the changing demands,” said Kiranmai Pendyala, chief operating officer-HR, AMD

This is similar to its strategy a few years ago when it started working on game console technologies and shifted a part of its workforce to the new unit. “We had set up the Radeon Technologies group to exclusively work in the graphics space, and identified machine learning and virtual reality as new growth sectors for us,” Pendyala said.


Initially, AMD did not have these skillsets among its employees in Hyderabad and had to bring in some talent from the US. “We did job rotations, short-term assignments in different countries and practised reverse mentoring,” Pendyala said.

AMD is also sourcing talent and know-how in technologies from institutes in the US such as MIT and the University of Texas, Austin, apart from Indian institutes such as IITs and IIIT Hyderabad. In India, the Sunnyvale, California headquartered company has 18% women among its 1,300 employees, higher than its global average of 15%. More than 50% of its workforce is outside of the Americas. Only 300 of its employees in India are in the software segment.“We largely have hardware engineers, that is, people who work with silicon,” Pendyala said.

 
 

Expo 2020 will Create 500,000 Jobs in the UAE

Expo 2020 will create 500,000 jobs, with residents living in a large community within the city, according to the statement. The de...