ABU DHABI // Many employees fear for the future of their jobs.
When asked how satisfied they were with job security, almost four in 10 surveyed in the poll said it was a worry.
Concern about job security was shared by men and women of all nationalities and across all age groups and genders, but manifested itself most strongly with Arab expatriates.
HR expert Matthew Gribble said potential layoffs were part and parcel of any job market, but for most employees fear of redundancy was unfounded.
“It is not an uncommon fear to have – losing one’s job – but I would still say that the reality for nine out of 10 people is that it will not happen,” said Mr Gribble, the senior managing director of Middle East and Africa PageGroup, a specialist recruitment company.
For those unfortunate few who have unexpectedly lost their job, Mr Gribble said they needed to take stock before focusing their efforts on getting back into the market.
“They need to take a deep breath and let the shock go. I think it takes a couple of days to process that and say ‘this is where I am now’.
“Then treat it like a project. Treat finding a new job like a job you have in the short term.”
This involves looking at all the ways available to get yourself and your CV noticed, he said.
“There is a range of potential sources of jobs,” he said. “So there will be contacts they have in the marketplace within the industry in which they have been working in perhaps. Then there are social networking sites and recruitment companies.” He said these people should create a good CV “then quickly and proactively reach out to everyone in that extended network”.
“For those who have unexpectedly lost their job, they often feel more comfortable with it if they have been proactive in doing something to find the next job rather than dwelling on the fact they have lost their job and the potential implications of that.”
Those who have been made redundant are often provided with a financial cushion that will serve as some protection for a few months, said Mr Gribble, an Australian who has been working in the UAE for eight years.
“Typically those who have been working for their company for a few years have an end-of-service benefit,” he said. “Most typically you will find that covers a couple of months, if not four, five or six months of salary when they lose their job and they need to remember that.
“They need to remember that they are getting paid, in effect, to get a new job.”
Residents can also be proactive by having an up-to-date CV and some savings put aside, he said.
The survey found Emiratis felt the most secure in their job (68 per cent), followed by westerners (66 per cent).
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About this series:
A study into the saving habits of Emiratis and expatriates found a quarter of all employed residents do not save any of their monthly wage. And 69 per cent have not started planning for retirement. The survey found that only 6 per cent of respondents do not have any financial worries. The majority of people’s wages are spent on rent, followed by groceries and household items leaving some residents dependent on multiple credit cards and longing for financial security. Financial experts advise residents to resist overspending to avoid a struggle when faced with unexpected expenses.
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In this series:
■ Majority of expats in UAE sending money abroad, survey finds
■ High cost of living forces half of expats to consider leaving UAE
Coverage from March 10th:
■ UAE workforce is largely satisfied in their jobs
■ Emergency cash reserves needed in case of redundancy, says financial advisor
■ Most UAE employees unhappy with frequency of pay rises, survey shows
Coverage from March 9th:
■ Survey finds 94% of UAE residents have financial worries
■ Rent is UAE residents' biggest expense, survey finds
■ Survey finds many UAE residents failing to save for retirement
Click on the image below to bring up a graphic on the survey’s findings
jbell@thenational.ae