58% of respondents expect new job creation in the next 6 months
· Employee stability has improved over the last 6 months with a whopping 84% employers enjoying low attrition rates of less than 15% in Sep compared to 73% in Mar this year
· 60% of employers say that talent crunch has improved in the last six months
· 35% of recruitment consultants expect Construction sector to see bulk of new job creation
· Most new jobs are expected to be created for professionals in the middle management roles (3-8 years of work experience)
Continued creation of new jobs over the next 6 months, with lesser attrition rates is the key sentiment that has surfaced from the NaukriGulf Hiring Outlook Survey, Sep 2015. The survey was conducted among 140 recruiters in the Middle East with employers and recruitment consultants accounting for 79% and 21% of the respondents respectively. 58% of the respondents forecasted creation of new jobs in the next 6 months, while also expressing confidence of lesser talent crunch and lower attrition.
A high 84% of the employers say that they are enjoying low attrition rates of less than 15% in their organizations
On being asked about the attrition rates, 84% report attrition under 15% in Sep 2015 compared to 73% reporting the same in Mar 2015. Also, 76% employers expect attrition to either remain stable or reduce further over the next 6 months, compared to 68% sharing this sentiment in Mar 2015.
60% of employers say that talent crunch has improved in the last six months
The second half of year 2015 heralded good news with employers expressing an improvement in talent availability. Also, a majority 52% employers are confident of not facing any talent crunch in the next six months as well, compared to only 39% in Mar 2015. The survey has also indicated that the maximum talent crunch is felt in the middle management roles (experience bracket of 3-8 years) and among nationalities of Asian origin.
Tarun Aggarwal, Business Head – Naukrigulf.com said, “As far as job creation and hiring scenario are concerned, 2015 looks to be a better year than 2014. With the recent decline in oil prices, Oil & Gas and related sectors are expected to see a dip in the creation of new jobs. However, construction and allied sectors continue to grow, given the build-up towards Expo 2020 in UAE, the FIFA World Cup 2022 in Qatar and increased focus on infrastructure development. The overall economic outlook, hence, remains largely positive.
35% of recruitment consultants expect Construction sector to see the bulk of new job creation Construction and its allied sectors are the favorites among consultants in their prediction regarding which sectors are expected to witness maximum job creation. Banking & Finance, Hospitality and Retail also are strong contenders for new job creation over the next six months.
Most new jobs are expected to be created for professionals in the middle management roles (3-8 years of work experience)
44% of employers expect new jobs being created for middle management roles (3-8 yrs experience), while 25% expect new jobs to be created at senior management and CXO levels.
Methodology: The Naukrigulf Hiring Outlook Survey is a half yearly survey which gauges the hiring sentiment of companies and consultants in the Middle East market and covers a plethora of sectors.
This survey is conducted twice a year and gives a clear outlook about the employment opportunities in the market and throws light on increments, job opportunities and attrition levels. It is conducted via email sent out to the recruiters registered with Naukrigulf.com. The results are compiled using statistical and analytical techniques. The Sep 2015 results were compiled after analyzing the responses of 140 respondents. The next Hiring Outlook survey will be released in March 2016.