Accounting and financial professionals have a reason to be happy. According to a report, next year will see a surge in the demand for jobs in these fields within real estate, construction, professional services and healthcare industries.
Aspirants with an experience of five to eight years in the accounting and finance industry, especially in the Gulf, would stand a higher chance of landing a relevant job, says the Robert Half 2018 Salary Guide. The study also states that implementation of VAT, reshaping businesses in accordance to technological advances, and the priority on business growth, is shaping the recruiting landscape for 2018.
These large-scale projects are increasing demand for specialist professionals at a pace that supply is unable to match, and as a result, the demand for a number of key roles is expected to grow next year across specialist professional occupations.
The Robert Half 2018 Salary Guide is a resource on starting salaries and recruitment trends in accounting and finance, financial services, information technology, legal and human resources. It also employers and employees to benchmark starting salaries for various permanent professional roles on a national basis.
“In the coming year, businesses will be seeking to retain a competitive advantage while preparing for the challenges which lie ahead. Digital transformation, diversification from reliance on oil industry, and a new VAT regime have solidified the importance of finding the right candidate. An industry-wide focus on retention, transformation, and growth have seen the highest salaries awarded to professionals with the right mix of skills and cultural relevance to meet ever-increasing growth targets,” said Gareth El Mettouri, associate director, Robert Half UAE, was quoted as saying in the report.
The implementation of new technologies is a key area of focus for 48 per cent of businesses in the coming year, along with talent management and company growth. The boom for small and medium-sized enterprises (SMEs) has also caused a sharp increase in the number of transformation and digital retail businesses operating in the market. This has further helped to drive demand.
The financial services industry is experiencing a transformative shift, with 80 per cent of banks saying that they plan to implement blockchain projects by the end of the year. Cybercrime and economic instability are also having an impact, increasing the need for professionals with better analytical skills and a surplus of qualifications for any given role.
Human resources and administrative staff have become the backbone of UAE businesses, especially now that digital transformation projects are beginning to take effect, changing the nature of work. As a result, businesses are investing heavily in the training, development, and retention of HR and administration departments, to ensure the level of business support can match the future objectives, the report adds.
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Source Credit: Khaleej Times