Concerns about the current job situation prevail around the Middle East with65% of the region’s professionals worrying about job security, according to a recent poll of more than10,000 professionals by the Middle East’s number one job site - Bayt.com, in conjunction with research specialists YouGov. In Saudi Arabia,61% of professionals are worried about their job situation, while professionals in the UAE are the most concerned about the job situation at74% of those surveyed. Around the rest of the Gulf region the majority are also concerned including62% of Qatar’s respondents and67% of Kuwait’s respondents.
The ‘Job Situation in the Recession’ survey was conducted to understand how the current recession is affecting people professionally, and financially; by asking their feelings and attitudes towards the situation of their job, company and financial position, and their own experiences or knowledge of job losses throughout the recent period.
The survey went on to address how professionals are feeling about the survival of their company: the research shows50% are concerned for their company’s security. Once again, UAE’s respondents are the most concerned, with59% citing worries about the future of their workplace compared to47% of respondents in KSA. Jordan recorded high levels of reassurance at51%.
“With the region in the full grip of the recession, the results of the survey demonstrate that the region’s professionals are very much concerned both about their job security and that of their company. What’s very interesting is that the experience of professionals in different countries around the Middle East varies significantly - even in neighboring countries,” commented Amer Zureikat, Regional Manager of Bayt.com.
“This type of research points to the extent of the problem on a grass roots level - in terms of the people that are most directly affected, which will help HR stakeholders and other industry professionals to take stock of the fact that professionals understand it is a difficult time, and may plan on taking pre-emptive action to ensure the safety and security of their job and financial situation.”
Job cuts have been widespread around the Middle East with43% stating there have been redundancies in their place of work. The UAE is the hardest hit, with more than half -57% of professionals stating that there had been job losses in their workplace; this is followed by Kuwait and Morocco at50% and48% respectively. In KSA, just over a third -37% had experienced job cuts.
The survey finds that amongst the43% that witnessed job cuts in their companies, more than a fifth -21% - said that more than100 people had lost their jobs, while the largest proportion -39% say less than20 people were asked to leave. The figures back up the stories which appear in the regional press of companies cutting back on their staff base, in a bid to survive the recession.
Of those surveyed,40% are expecting job cuts in their company in the future. Similarly, the lack of optimism in the job market is highest in the UAE, where52% of professionals are expecting further cuts, followed closely by Kuwait at48%. KSA’s respondents were more optimistic, with just39% stating they expect job cuts. The least gloomy country expecting future job cuts is Algeria at25%.
On a personal level, the survey found59% of people knew someone - a friend, neighbour, ex-colleague or relative who had lost their job in the last few months. More than half of KSA’s respondents -56% know someone who had lost their job, which is most probably adding to concerns in the country regarding job security.
The survey asked respondents if they’ve been able to save money in their country of residence. Overall,63% managed to save some money. Saudi Arabia’s respondents are best prepared with savings for a rainy day, with75% having some amount of money put aside. Most Gulf residents have saved some money:71% in Qatar,65% in Kuwait and64% in the UAE said they have some money on standby. Morocco and Jordan fared badly on the savings front with just45% and43% having savings.
Even with job losses and the seeming threat of corporate instability in the recession,47% of respondents still consider their country of residence as a lucrative and attractive place to live and work. Most positive about their country of residence were respondents in Qatar and Saudi Arabia with65% and63% respectively having faith in their countries.
Asked how respondents feel their country of residence compares to other countries in the region, respondents in Qatar,52%, emerged as the most confident that they were doing better than others, followed by Saudi Arabia’s respondents at49%, with26% in the Kingdom believing things were the same as in other countries. Pakistan emerged as a country that respondents felt is doing worse than others.
Respondents remain largely optimistic in terms of the time that it will take for the regional job market to improve in their industry. Qatar and Saudi Arabia were most optimistic that it would happen in less than12 months, with53% and50% of respondents agreeing. Egypt (17%), Morocco (16%), Algeria (16%) and Jordan (15%) were the least optimistic in terms of things getting better relatively quickly, agreeing that it would take more than two years.
“While many professionals around the region feel they are being hard hit at the moment, many of KSA’s respondents still feel it is one of the most attractive and lucrative places to live”, said Nassim Ghrayeb, CEO of YouGov.
The ‘Job Situation in the Recession’ survey was conducted online between17th March and6th April2009 with10,781 respondents from the UAE, Saudi Arabia, Kuwait, Qatar, Jordan, Egypt, Morocco, Algeria and Pakistan. Males and females aged over21 of all nationalities were included in the survey.