The Human Resource sector in Dubai covers many parts of the employee lifecycle, including Human Resource Management, Learning & Development, Executive Search and Talent Management.
It is the role of the HR industry to fulfill the human capital requirements of the major growth sectors in Dubai – areas such as Hospitality, Tourism, Construction, Real Estate, Transport, Logistics.
There are major events that will occur in the next few years that will affect the demand for skilled graduates and workers in the UAE. Dubai Expo 2020 is set to not only change the visual landscape of the Emirates, but its human resources vista too, with more than 275,000 jobs that will need to be created regionally in the next 5 years to service the event.
Another major change that has occurred recently in the HR sector was the strategy issued by Sheikh Mohammed to make Dubai the capital of the Islamic Economy. The Islamic Economy is valued at $8 trillion (Dh29.4 trillion), or 11 per cent of Global Gross Domestic Product (GDP) and many HR companies are looking to source qualified candidates locally. The Islamic Economy industry comprises finance, pharmaceuticals, fashion, tourism and much more. In order for the region to meet these goals, the HR organisations in Dubai need to recruit, train and retain the right talent in this sector.
With increased demand for more hotels, there will be growth in the hospitality and tourism sector. The hospitality market in the UAE is forecast to grow at an average rate of 8.1% in the next four years, to US$28.3bn. In light of the Expo, HSBC estimates that about 45,000 new hotel rooms will be needed for the event, increasing supply by around 6.4% every year until 2020.
In order to meet the demand of the upcoming events, it is imperative that the industry is able to either train local talent or source the right talent from established international economies. The HR sector will require solutions to assist the region with planning for large scale macroeconomic events such as Expo 2020, as well as setting up qualified training institutes to help established businesses develop and grow, while nurturing creativity and innovation in the private and public sectors.