Dubai: As the economic crisis hits the real estate market in Dubai, job cuts have occurred and the newly unemployed must readjust their expectations in the market, according to a real estate human resource company official.
Samir Khosla, managing director of Dynamic Staffing Services, a human resource company, told Gulf News; "The employer is back in the driving seat, and candidates should align their expectations in terms of salary.
"Job seekers now need to be a lot more flexible with their demands when dealing with their employer, rather than having high expectations that relate to the market situation that existed in the last two years."
Khosla said, "We survey the market, and what candidates are expecting is at least ten per cent above what the market is offering."
Many companies in the construction sector are on a recruitment freeze as projects slow down, industry experts say.
Brendan Meher, managing director of RecruitGulf.com, an online human resource recruiter, said, "Within Dubai itself, companies within the construction have stopped recruitment. However, it is in pockets, not a blanket, with some companies still hiring."
Meher said that with the current market uncertainty, companies are holding off hiring decisions until New Year.
As more people become available for hire, Khosla suggested that candidates take courses in a specialised field which may be more in demand and not as expendable as other jobs in the market.
"There are still sections within the construction industry where jobs are in demand because there was always a shortage situation. We're trying to help these candidates in how to transition over to some of the job areas that are more secure," he said.
Khosla also suggested Abu Dhabi as an alternative employment market. "That market currently seems to be a bit more robust in terms of hiring ... Candidates should consider careers in Abu Dhabi and Qatar particularly in the construction industry."
The recruitment specialist said, "People have over expended themselves, and have taken on a level of expense that they just cannot sustain at lower salary levels, which is a very difficult situation."
Khosla also said some companies are renegotiating candidate salaries, where they are asking employees to take pay cuts of up to 30 per cent. "Some take pay cuts, while others get terminated. It's a harsh reality, what's happening," said Khosla.
