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As the head of the international information technology (IT) recruitment agency, Lucky Hunter, I’ve been monitoring the ebb and flow of trends within the tech market, particularly in the UAE. What shifts are underway? How are these trends moulding the priorities of specialists? Let’s delve into the current landscape and emerging trends shaping the tech and recruitment scene in the UAE for 2024.
The current market dynamics
The tech market’s evolution is marked by a distinctive shift in specialists’ priorities- favoring stability over salary increments. This pivot is an aftermath of the international crisis, coupled with the escalating attractiveness of the UAE as a regional epicenter, consequently reducing competition for specialists.
Moreover, an active recruitment drive gains momentum, propelled by the surge in business growth. Multinational corporations are strategically establishing footholds in the UAE, primarily within the bustling hub of Dubai. Consequently, this expansion triggers an intensified quest for highly skilled professionals.
Simultaneously, government-backed initiatives propel a surge in startup enterprises, signaling an escalated demand for specialized talent. The burgeoning startup ecosystem presents a plethora of opportunities for skilled professionals to contribute their expertise and innovation.
Last but not least, a conspicuous trend surfaces- a revival of office-based work culture. According to Robert Half’s research, specialists, on average, spend one day a week working remotely. Notably, unlike the United States, where such a shift encountered substantial resistance, the UAE’s workforce exhibits a willingness to forgo flexibility for the allure of a luxurious lifestyle in Dubai.
These interconnected movements paint a vivid picture of the tech market’s evolution in the UAE, highlighting a substantial transformation in priorities and work dynamics. And exactly these changes will lay the foundation for the 2024 tech market situation.
The key trends to watch out for in 2024
Here’s a list of the trends we expect to shape the tech market in the new year:
1. Salaries’ stagnation The projected scenario for IT salaries in the UAE for 2024 anticipates stability, rather than substantial growth. The ongoing trend, set in motion by the region’s escalating attractiveness, foresees an influx of specialists, potentially reducing competition, and curbing the impetus for significant salary increments. Consequently, it’s anticipated that companies might opt to maintain existing salary structures to sustain stability in an increasingly competitive market.
2. Rising demand for specialized roles 2024 is poised to witness a surge in demand for specialized roles such as Head of IT, Chief Technology Officer, and Project Manager. With numerous businesses planning local branches, the critical requirement for individuals adept at office setup and steering regional business development is expected to intensify. This surge underscores the strategic importance of seasoned professionals capable of orchestrating business expansions within the UAE’s dynamic landscape.
3. Pivotal IT role demand Roles in high demand for 2024 encompass Python, Java, and other backend developers, alongside frontend developers and quality assurance (QA) engineers. The burgeoning IT market in the UAE is likely to fuel the need for a diverse array of specialists, particularly those at middle to senior levels and beyond. This demand accentuates the significance of varied technical expertise, aligning with the accelerated pace of technological advancements and diversified project requisites anticipated within the region.
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4. Startup surge and specialized skills The flourishing startup ecosystem, especially within crypto and blockchain sectors, is expected to amplify the necessity for Web3, blockchain, and managerial roles like Chief Technology Officers, Chief Information Officers, and other Head of IT positions. The robust projection for startups indicates a pivotal demand for specialists well-versed in emerging technologies and strategic leadership, positioning the UAE as a vibrant hub for pioneering ventures.
5. Remote work dynamics The prevalence of remote work opportunities might decline in job listings for 2024. Despite this trend, the allure of Dubai is expected to entice expatriates to consider sacrificing remote work flexibility for the potential of relocation. This cultural shift might reflect a preference for the Dubai lifestyle over remote work options, potentially influencing expatriate decisions toward physical presence in the region.
6. Declining perks and benefits outlook According to Robert Half research, anticipated changes in perks and benefits, such as diminishing childcare coverage, might align with the scenario of stable salaries and reduced competition for IT specialists within the region for 2024. Organizations might recalibrate benefit offerings due to the ongoing global situation, potentially reducing the need for additional incentives to attract talent within the UAE.
By projecting these trends for 2024, a prospective view of the UAE’s tech market emerges, shedding light on the anticipated shifts and trends shaping the industry’s landscape.
Navigating 2024’s tech landscape
Given what is expected, here are a few strategic steps for employers to set themselves up for success in 2024:
1. Talent cultivation for niche roles Recognize the growing demand for specialized roles such as Head of IT, Chief Technology Officer, and Project Manager. Invest in talent cultivation programs, internal promotions, or external hires to fill these pivotal positions. Identify potential leaders, and offer training programs to foster leadership skills within the organization.
2. Targeted recruitment strategies Refine recruitment strategies to attract and retain specialists. Tailor recruitment approaches, offering competitive compensation packages, career progression opportunities, and engaging work cultures to entice top-tier talent.
3. Cultivate a relocation-friendly culture Anticipate the cultural shift away from remote work. Cultivate a company culture that welcomes and supports relocation to Dubai. Highlight the allure of the region and its lifestyle, aligning it with company values to attract top talent willing to relocate.
4. Flexible benefit offerings Amidst anticipated changes in benefit trends, reassess benefit offerings to suit evolving employee needs. Balance financial benefits with non-monetary incentives such as flexible work hours, professional development opportunities, and wellness programs to foster employee satisfaction and retention.
5. Engage in strategic employer branding Invest in employer branding initiatives to enhance the company’s appeal. Showcase a progressive work environment, innovation-driven culture, and commitment to employee growth and well-being. Strengthen the employer brand to attract and retain top talent in a competitive market.
6. Do not hesitate to ask for help In the face of recruitment challenges or evolving talent demands, don’t hesitate to seek external support. Engage with freelance recruiters or specialized recruitment agencies to augment your talent acquisition efforts. Leverage their expertise and networks to navigate complex recruitment needs, ensuring access to a diverse pool of skilled professionals.
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This article is from Entrepreneur.com
