RecruiterME - UAE Recruiter Magazine

The Middle East Recruiter
Page 27
Expected trends within
recruitment in 2016
James Collin, Head of Cobalt’s Dubai
office, gives us his insight into the
key trends for the financial services
recruitment market in 2016.
Financial markets fuelled by confidence
There is a lot of talk around oil prices being
low, property prices falling, a slow down
in China, interest rate rises by the Fed and
saturated debt markets. However, the key
thing to remember is that markets have
always been cyclical and everything has
a tendency to be exaggerated in Dubai.
Too much confidence was poured into
market sentiment last year and the end of
2014 and, conversely, too few are taking
a balanced view right now. I believe that
the end of 2016 will bring good news for
investors who will take advantage of lower
asset values and higher interest rates to
get a higher rate of return by the end of
the year.
Candidate driven markets will continue to
thrive for specialist recruiters
At Cobalt, we have deliberately built a
specialist recruitment business in all of our
global offices that centre on notoriously
candidate short markets and key areas for
specialist skill sets. In 2016, the demand for
these types of candidates from our clients
across Banking, Finance, Procurement,
IT, Construction and Professional Services
shows no signs of slowing down in any of
our core markets. In fact competition for
global talent remains stiff and we spend an
increased proportion of our time on new
and innovative candidate attraction and
management strategies that help us to
attract the best candidates for our clients.
Quality is paramount
As in 2010, when market conditions
were more challenging in financial and
recruitment markets, only good quality
firms and recruiters flourish. At Cobalt, we
have focused more and more effort on
maintaining the quality and integrity of
our business in recent years and, despite
the challenges, Cobalt has doubled in size
in the past 5 years. This year sees our 15th
birthday. From the beginning, our core
values have always centred on delivering
high quality results for our clients and
candidates.
The 4th Industrial Revolution
The Digital age is upon us! Clients,
candidates and the recruitment industry
generally have embraced the move
towards digital with social media and
online advertising used by all. An
understanding of exactly how to maximise
digital tools in recruitment is a must for
recruiters. In addition, companies are
striving to maximise their brand and service
opportunity within the digital landscape to
align brand, marketing and operations.
The acquisition of talented individuals
within this space has been a priority for
Cobalt’s IT division in the UAE in the past
year.
Looking ahead, I anticipate that the
majority of 2016 will be a challenging year
for those recruitment firms, and businesses
generally, that do not have the quality
to survive in a tougher market. However,
there will still be great opportunities for
smart companies and individuals.
About Cobalt
Cobalt is a leading international search
and recruitment provider to the Financial
Services & Accounting and Property,
Construction & Engineering sectors. It
has offices in the UK, Europe, Middle East,
Asia and New Zealand and recruits at all
levels from recently qualified professionals
to Board Directors on a permanent and
interim basis.
James Collin
Head of Cobalt - Dubai
T: +971 47 046 106
E: jcollin@cobaltrecruitment.com
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