Business | General
Good time to hire, not fire for advertising agency
While many companies are laying off professionals, a few are on a hiring spree.
- Gulf News Report
- Published: 22:32 April 10, 2009
- Image Credit: Supplied Picture
- Ali Reza Kassam.
Dubai: While many companies are laying off professionals, a few are on a hiring spree.
Shuttle Advertising, a mid-range advertisement agency in Dubai, is one destination for creative professionals in these troubled times, said a top official.
Life had been perfect, well almost, till late last year, for most advertising agencies when business was good.
The UAE's advertisement market touched $9.35 billion. Clients and media continued to chase the agencies for the best slots and positions.
"Although things are different and challenging, I see opportunities even in a downturn," he said.
"For example, on the creative side, I am hiring people and these days you get more talents at lower salaries."
Asked why he was hiring when there was less business, he said: "I am preparing for that moment. So while a lot of players will have disappeared by then, my company will be at the forefront."
"Even if it means taking a bit of a risk by hiring people, I am willing to take that risk."
He took over Shuttle Advertising in 2001.
But for some agencies, things are still not good.
"Recovering payments is one of the biggest headaches these days. If you can't collect the money, how can you pay the salaries?" said Giresh Mehta, owner of Adventure Advertising.
"We are now focusing on digital media where we see more opportunities coming, especially at transit and public transport facilities," he said.
Like him, a lot of companies are looking at diversifying their business.
Do you agree with the report? How feasible is it to hire a workforce during the global economic crisis?
More from Business General
More from Business
Business Editor's choice
-
DFSA chief to step down in September
Executive has been at post since 2008
-
Geepas idea blossomed in Dubai
The journey led from a small shop in Bahrain to a $1.27b company in the UAE
