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09-01-13

Most of UAE finance companies to recruit in H1

(MENAFN) Robert Half UAE director, James Sayer, said that 83 percent of the country's finance companies will hire in this year's first quarter and first half, reported Arabian Business. During the first quarter, 31 percent of finance executives would recruit and expand their departments, whereas 52 percent would keep same levels through filling roles that have been resigned from, 12 percent will not hire and 5 percent will slash the number of employees. Dubai-based financial firms plan the most hiring activity during the first three-month period of 2013, with almost 37 percent plan to expanding their finance teams and 48 percent filling roles for vacated staff, according to the Robert Half Financial Hiring Index. Meanwhile, 21 percent of Abu Dhabi's executives plan to expand and 59 percent to keep headcount. However, almost 87 percent of executives noted that it is challenging to find skilled financial professionals with financial and management accounting topping the list of the functions most difficult to employ. Furthermore, 90 percent of executives said they are worried about losing top performers, which forced many to issue counter-offers or higher salaries and bonuses or both. Sayer stated that as the UAE economy gains momentum, companies will continue to search for finance professionals to drive strategy, process improvement and compliance initiatives. It is worth noting that 81 percent of UAE executives are positive about the country's growth prospects during the next 6 months and 92 percent confident in their own firm's prospects.

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