The oil crisis created a solidified notion from both the Government and Private Sector that there needs to be further investment to diversify the economy so that there is no longer a total dependence on the oil and gas sector for a healthy GDP. This has led to a noticeable increase in demand for manufacturing professionals, including factory and plant managers, with a number of new factories being opened in the FMCG and the Specialty Chemical sectors. That said, the oil and gas sector has been steadily stabilising, encouraging the big players to keep an eye out for top talent with the ability to lead change and bring their businesses back on track, although competition remains fierce among oil and gas professionals who have been out of work during the past two years. Sustainability continues to be the focus of most organisations and governments, opening up opportunities for environmental management professionals who contribute to organisational compliance with governmental sustainability regulations.
We have seen an increased demand for qualified local professionals within the GCC region in order to keep up with nationalisation requirements. Yet, integrating local talent within multinational organisations continues to be a challenge across all sectors. Expatriate professionals with GCC experience and knowledge of the Arabic language remain an attractive prospect for employers.
SALARY & COMPENSATION TRENDS
As the economy stabilizes, we predict an increase of 5% in salaries in the manufacturing sector. However, organisations are under continual pressure to reduce operational costs, which could have an impact on other components of the benefits package such as housing.
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