THE HOT STORY

Growing demand for professionals who can perform tasks that drive business growth

UAE companies are increasingly prioritising professionals who can deliver tangible results over visionary thinkers, particularly in sectors including artificial intelligence, finance, and real estate. Dr Trefor Murphy, founder and chief executive of Cooper Fitch, observes: "The biggest shift we've observed is that organisations are moving away from 'vision hiring' and focusing more on recruiting individuals who can deliver on current projects." The trend reflects a growing demand for hands-on professionals who drive business growth. The UAE led job growth in the GCC with a 4% increase in hiring in the second quarter, while other countries like Saudi Arabia and Oman saw only 2% growth. Notably, there has been a rise in senior finance and in-house legal roles, with companies opting to build internal teams rather than relying on external law firms. Furthermore, AI-specific roles are being created on a significant scale for the first time.

Khaleej Times Online

STRATEGY

Glassdoor and Indeed to cut 1,300 jobs amid AI integration

The Japanese parent of Indeed and Glassdoor is to cut 1,300 roles across the two job sites amid a shift toward artificial intelligence (AI), according to a memo seen by Reuters which detailed that the cuts are mostly in the US and within the research and development, growth, and people and sustainability teams. Recruit Holdings did not provide a specific reason for the layoffs, but chief executive Hisayuki "Deko" Idekoba said "AI is changing the world, and we must adapt by ensuring our product delivers truly great experiences for job seekers and employers."

Reuters

TRAINING & DEVELOPMENT

Oman's labour ministry unveils vocational plan for governorates

Sayyid Salim bin Musallam al Busaidi, Undersecretary of the Ministry of Labour for Human Resources Development, announced at the 11th Annual Human Development Conference in Salalah that the Ministry is implementing specialised training programmes tailored to each governorate's needs. These initiatives aim to enhance human capital and align skills development with Oman Vision 2040. Al Busaidi said: “We are currently piloting two models to establish a comprehensive vocational track that links education with employment and improves the job readiness of our youth.” The Ministry has said it is committed to creating vocational pathways from intermediate school, ensuring that Omani youth can pursue education that matches their aptitudes and local economic priorities.

Oman Observer

HEALTH & WELLBEING

Galadari Brothers champions workplace wellness

On International Yoga Day, Galadari Brothers emphasised its commitment to employee wellbeing by hosting a yoga and sound meditation session. Led by Anish Shah, chief financial officer of the engineering division, and wellness guide Twinkle Shah, the event aimed to promote relaxation and focus among employees. The World Health Organisation highlights that stress-related health issues cost billions in lost productivity, making mental wellbeing crucial for economic development. Galadari's initiative aligns with the UAE Vision 2031, which prioritises quality of life and emotional wellbeing. The session provided a much-needed break for employees, fostering a sense of community and connection. This event is part of Galadari's broader environmental and social responsibility efforts, including sponsoring the planting of 10,000 mangrove trees and engaging in various volunteering activities.

Khaleej Times Online

SUSTAINABILITY

SAB participates in Saudi ministry's sustainability program

Saudi Awwal Bank (SAB) has announced its role as a mentor in the Saudi Ministry of Economy and Planning's Sustainability Champions Program, which is aimed at enhancing sustainability across key sectors. The signing ceremony on May 28 marked a significant step in SAB's commitment to sustainability. Tony Cripps, managing director of SAB, said: “Sustainability is no longer a choice - it's a responsibility.” SAB will mentor prominent organisations, including Dallah Healthcare Company and Rawabi Holding Company, to support their sustainability journeys. The initiative aligns with Saudi Vision 2030 and reflects SAB's dedication to fostering sustainable economic growth through its comprehensive environmental, social, and governance strategy.

Arab News

INTERNATIONAL

UK labour market shows signs of cooling

The UK labour market is experiencing a significant slowdown, with the supply of available workers increasing at the fastest rate in nearly five years. According to analysis by KPMG and the Recruitment and Employment Confederation (REC), there has been a decline in permanent vacancies and reduced demand for employees. Consequently, wage growth in the private sector has slowed from 5.5% to 5.3%, marking the slowest pace in four months. Neil Carberry, chief executive of the REC, noted that companies are hesitant to hire due to "the scar tissue left by the spring tax hikes and fear of further business tax rises." Jon Holt, group chief executive and UK senior partner at KPMG, said the threat of rising employment costs is contributing to a "wait and see" approach among employers. Official jobs market figures show unemployment rose to a four-year high of 4.6% in the three months to April, up from 4.5% in the previous three months.

Reuters

The Guardian

The Times

Deep cuts agreed in major overhaul at Thyssenkrupp

German industrial giant Thyssenkrupp and the IG Metall labour union have reached an agreement on reduced working hours, lower bonus payments and site closures as part of a push to overhaul the country's largest steelmaker and prepare it for a standalone future. The agreement comes after Thyssenkrupp's announcement that up to 11,000 jobs at the TKSE steel unit, or around 40%, had to be cut or outsourced and that annual production capacity would be lowered to 8.7m-9m tonnes from 11.5m tonnes. "We went to the pain threshold and only made concessions where it was really necessary in order to secure jobs and locations," said Tekin Nasikkol, head of Thyssenkrupp's works council and member of the group's supervisory board, adding "We have now created the conditions for the company to emerge from the difficult situation out of its own strength."

Reuters

Deal reached in Finnish aviation labour dispute

A prolonged labour dispute in Finland's aviation sector has concluded with a new collective agreement between the Finnish Aviation Union (IAU) and Service Sector Employers Palta. The agreement, which is expected to last approximately 1.5 years, comes after over six months of negotiations that led to Finnair cancelling more than 1,200 flights, affecting around 100,000 passengers. Palta's Director of Labour Market Affairs, Minna Ääri, said: "After prolonged negotiations, it's good that we were able to reach a mutually acceptable deal." Ääri did however express disappointment over the lack of broader working condition improvements. Wage increases under the new deal are expected to follow Finland's general line, with an estimated rise of around 7.8% over the next three years.

YLE Uutiset

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