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In the coming years, it will not just be difficult, it will be nearly impossible to search for skilled labor. A study conducted by Korn Ferry in the Future of Work found that the talent storage in the coming era should reach $8.45 trillion in annual revenue by the year 2030 – which is the combined GDP of Japan & Germany.
Moreover, the study also revealed that India will be the only country left with a surplus of business services and skilled labor by 2030.
In the future, technology will overpower any organization that is willing to grow and creates a sustainable business for them.
The research further revealed that more than 67% of Entrepreneurs believe that technology is the prime value-generator of the future. However, human capital is the most important asset in any business. Regardless of how much technology advances, it is the people who will use that technology and make it useful for the organization.
The situation in the Middle East is on a time-bomb. Unless it is addressed, the challenge can go beyond hands for the organizations to handle. The organizations in UAE are not the only ones meted out this fate; it has become a national issue.
Unless you are planning to start a business in Dubai, the second best option is to land a job rather than working in Europe or any foreign territory. UAE has evolved a lot. Omar bin Sultan Al Olama – the newly appointed AI minister, shared his vision for the future at the World Government Summit:
“In 10 years, we will be the capital of AI in service and government. I also think we will be a hub for AI in the region. AI is a very interesting field right now, it’s very broad right now, so every country is going to look at specializing in their own field,”
In the level A category, there is a shortage of 63,000 skilled workers. The risk will get bigger unless the job seekers in UAE acquire some exceptional skills to outshine their competitors.
A study conducted by Bayt.com concluded that there is a 65% gap between the UAE market and the candidates looking for jobs in UAE.
Most employers prefer to hire people who are good at teamwork. And know how to manage their time effectively. They understand the power of emails and how to craft a perfect email at work?
According to the study, the most tricky thing is to find a viable candidate who possesses all the pertinent job skills.
When the company hires for a senior position, 53% of employers prefer hiring applicants who are good are creative thinking.
In the wake of data collected by interviewing 6,000+ applicants from across the Middle East, these were the top ten skills that employers aspired to in an ideal candidate:
- Creative thinking: When run-of-the-mill methodologies are blended with out-of-the-box thinking.
- Global mindset: Tools and products which can make a global impact.
- Time management: Multi-tasking is a myth. A candidate should have focused thinking.
- Entrepreneurship: Taking a business and scaling it on a global level.
- People management: In addition to their day-to-day tasks, they should be able to motivate, train, and inspire people around them.
- Written communication: As mentioned earlier, good communication is necessary for every candidate.
- Emotional intelligence: The ability to identify and manage your own emotions and those of others.
If the new skill is not translating data into insights, the new media literacy, virtual communication, channel management, and effective communication will become the cornerstones of success.
Opportunities exist all over this culturally-diverse country, but most jobs in the UAE will be found in Abu Dhabi and Dubai. The cost of living is expensive, especially in these two cities, but you get your money’s worth as the standard of living is world-class.
UAE is one of the most highly populated countries across the Middle East, but even with such a high population rate, it gets difficult to find jobs in UAE. There are countless ways to make money in UAE, especially if you’re equipped with all the skills mentioned above. Or if you have a flare of Entrepreneurship in you, it is best to start a business from home without acquiring any more skills.