An increasing number of employees are facing redundancies as a result of the Covid-19 Pandemic and internal restructuring.
Companies are now re-evaluating their overhead costs, which has resulted in massive job losses in the UAE and internationally.
What do the numbers say?
According to a statement written by Zawya “Employment in Dubai was notably affected, with companies reporting the joint-quickest fall in job numbers seen throughout the 10-year series history”.
Since 2019, many UAE organizations have downsized their workforce. For example, in the third quarter of 2019, UAE banks have laid off 930 employees and local banks have closed down 49 branches. More job cuts amongst banks and other organizations are expected due to the digitization drive, that will substitute routine jobs.
Both Etihad Airways and Emirates airlines have also downsized their workforce in recent years due to poor financial results. Dubai’s property developer Nakheel also laid off around 300 employees in 2019. Many other sectors were also affected including the telecommunications and the Education sectors.
What can companies do about it?
The Bottom Line
Companies are now helping their laid-off staff through Outplacement: easing the transition process by providing outplaced staff with extended visas, career guidance, introductions, resume writing, interview preparation, payout allowances and so on. There is a rise of outplacement services provided by HR consulting firms and consulting agencies.
According to a research conducted by Oracle, 64% of HR leaders in the UAE believe that the gig economy will reduce long-term costs associated with recruitment and training. The same survey also found that 48% of HR directors believe the gig approach will allow them to develop a broader and more specialized range of skills.
At Ogram, we are in a great position to help with your outplacement by providing part-time job opportunities to upskill talent, make use of time, and generate income. During Covid-19 we have provided 10,000+ jobs to staff left idle.
All you need to do is simply, have them register in the link below and we’ll get them started with their first job.