We are optimistic about 2009.....
2009 presents a golden opportunity for those who are willing to see it
Financial headlines did not make comforting reading as we saw off a difficult 2008 and welcomed 2009 with some trepidation as to the fiscal future.
Five thoughts you should bear in mind this year
It is too late to avoid the now-deepening recession. But it is not too late to learn important lessons from 2008, and resolve to do better this year. Here are five thoughts to bear in mind in 2009.
How to ride out the tough storm
The biggest complaints in my inbox from entrepreneurs are not about winning business, but getting their customers to pay on time.
'This year is going to be challenging'
Globally, the year 2008 will be remembered for all the wrong reasons. Be it bankruptcies, bailouts or bad predictions, the financial landscape has been littered in the past 12 months with unwanted souvenirs.
Good news: ‘Who said that jobs will disappear in Dubai?’
- Jobs will still be available this year
- companies will not stop recruiting qualified staff despite talk of flat growth
- a number of companies are still recruiting “strongly
- recruitment habits have changed.
- Companies are not using overt or more expensive means of advertising for jobs
- The good news, he added, is that the crisis has raised job loyalty and broken the back of high staff turnover.
- Now that the economy is slowing down, people will be more comfortable in their job and this will make employees more loyal to their companies
- The high job turnover seen here will slow down. It will serve the economy better.
- The inevitable correction is welcome as for the longest time, the economy was overheating
- Costs were rising and payrolls were increasing and became an untenable situation. And even then, people were having trouble making ends meet.
- The hunt for talent will still go on as all companies face a natural turnover rate. Any company, even those in a steady state, will lose 10 to 15 per cent of its staff due to attrition, poor performance or people moving on.
- The crisis has forced employers to become smart recruiters.
- A lot of companies are slowing down on recruitment. A company looking for five or six people to hire is now looking for one or two persons who can do the job
- The extent of the crisis would be clearer by March 2009
- Up to 20 per cent jump in the number of job seekers in the last two months.
- People from outside of Dubai still want to move here -- majority of them are from India, the Philippines and Kenya. Even Europeans, when it comes to finance jobs
- For the more experienced people, there is a serious slowdown because of high salaries.
- Companies now are looking at less experienced candidates
- Employers can now be more picky with people they are hiring – staff with better qualifications and long-term outlook are targeted
* Employers: The market now is flooded with good talent
* Workers become more loyal to companies in times of crises
* Companies face lower risk in hiring younger people
* Worst hit are real estate and finance sector workers, especially those who are highly-paid executives
* Moderately hit: tourism and hospitality sector workers
* Healthcare, telecoms, education sectors, sales