COUNTRY FOCUS
Skills gap
KPMG has already seen that the
hunt for talent, a perennial issue for
CEOs in the region, is likely to get
more, not less, difficult. While the
UAE’s schools and universities are
producing increasing amounts of
high potential human capital, there
is still a heavy reliance on expatriate
labor to satisfy the local job market.
There is no doubt that there is
still a considerable need to hire
new talent, just under two-thirds
of CEOs are expecting to increase
headcount over the next twelve
month while almost 90% of CEOs
expect headcount to increase over
the next three years.
That raises at least three interesting
questions: which are the roles that
are likely to be more difficult to fill
over the next three years; where is
the talent that CEOs need going
to come from; and how can you
attract and then retain the talent
you need?
Over the next three years, CEOs
predicted a gap for specialist skills
in the research and development
and strategy sectors. With strategic
skills, there were concerns about
data and analytics, cyber security,
digital and innovation, continuing a
theme KPMG has seen throughout
this survey.
The question regarding where talent
was going to come from tended to
vary, often according to the sector
the CEO represented. In sectors
with a strong push for Emiritisation
and few cultural barriers, there is
increasing competition for locals,
both seasoned professionals and
fresh graduates. In other sectors,
where reliance on expatriate
labor is more pronounced, there
was some concern expressed
regarding the source of labor, with
both regulatory pressures and
competition for talent, not least
from home countries that have
seen steady economic growth,
and the challenges of recruiting
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INTELLIGENTCIO
and retaining skilled and trained
expatriates.
There was broad agreement
among UAE CEOs on the most
important ways of attracting
and then retaining staff. Three
quarters of the responses came
from just three suggested answers
– interesting career paths, financial
incentives and an entrepreneurial
environment. CEOs may find
developing human competencies
can offer interesting career paths
and an entrepreneurial environment
to help negate the hunt for talent
and reduce the cost of financial
incentives. ¢
Excerpted from KPMG’s Now or
never, 2016 UAE CEO Outlook
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