Simon Stephens, general manager of Digby Morgan’s Dubai-based Middle East team, reports from a cautiously optimistic market.

Whilst too early to state that the UAE and the Gulf Cooperation Council (GCC) countries have left the global recession behind them, the signs are certainly positive in the Middle East.

Stock markets have continued to rise, banks have started lending and there is a palpable sense that the government of the UAE has a real handle on the crisis and is both prepared and able to step in where needs be in order to shore up weakened systems. Falling inflation and the correction of housing and food prices have also had a positive effect and, for the first time since last year, there seems to be light at the end of the tunnel.

It's shaping up to be a very successful Q2 for Digby Morgan Dubai due, essentially, to the strong relationships that we have built with both local and international firms. We are now recognised as one of the leading HR experts in the region and clients are increasingly turning to us for advice and assistance.

HR is changing dramatically and is still in the process of transforming itself from a bureaucratic recruitment function into a more commercial and strategic entity and this has seen an increase in demand for experienced Business Partners who can guide an organisation through change and transformation. In addition to good generalists, we are also seeing a demand for strong candidates in the compensation arena who can link compensation to performance and engineer increasingly complicated compensation and benefits frameworks to ensure that a company remains competitive in a financially tight economic climate.


top l Printable content