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Private Equity Jobs in UAE: Opportunities in Dubai

PE jobs in UAE

UAE (United Arab Emirates) has one of the most flourishing economies globally, and it continues to grow.

The bustling city of Dubai provides unparalleled opportunities for PE firms to establish themselves in one of the world’s most developed cities.

We will discuss how the world sees Dubai in terms of setting up private equity firms and how the wealthy investors see UAE-based PE (Private Equity firms as their option to make investments through.

Dubai-based private equity firms and employment opportunities offer finance graduates from all over the world.

According to Statista research, the number of VC (venture capital) deals raised by UAE-based startups in 2018 amounted to an overwhelming number of 366. A whopping 893 million US dollars got raised in venture capital the same year.

The unique factor, or USP, of Dubai, is that it has been among the fastest-booming economies for many years.

By the end of this year, UAE’s GDP will grow sky high, to USD 375 billion, as per expert opinions and forecasted by the Trading Economics global macro models.

Overview — PE Market in UAE and Dubai

PE market

The legal status of pre-seed startups in MENA (the Middle East and North Africa) region in 2020. Statista

The national. ae, a reputed private English daily newspaper published in Abu Dhabi, the PE market in MENA (the Middle East & North Africa) has had struggled of late.

However, investment opportunities have increased by manifolds. The Great Recession of 2008-09 saw UAE’s private equity market surviving comfortably amid the crisis.

Excluding the disappearance of a small percentage of PE firms that could not cope with the heat brought by the recession. But, in the last few years, the public markets have overshadowed or outperformed the private equity sector.

The biggest roadblock to the growth of private equity firms in the UAE is the sudden emergence of too many firms in the PE sector of late.

Investments from Dubai’s Private Equity Firms

However, the number of investments made by Dubai’s top private equity firms has soared up in the recent past; contrary to that, some disappointments have been observed concerning PE in the said geographical region.

A few of such challenges faced by the best private equity firms based in UAE comprise a non-compatible geopolitical environment, continuous change in oil prices, and decreased federal spending.

Despite all of this, MENA’s geographical region is among the fastest-growing when it comes to gauging the median annual growth of GDP.

Services Offered by Dubai’s PE Industry

There are a limited number of services that get offered by the UAE-based private equity industry.

Compared to a wide range of services offered by its American and European counterparts, especially the US private equity firms.

Because the funds are lesser, the kind of services they offer is different than traditional funding.

You can make a private equity career in Dubai across three sub-divisions of PE.

Advisory Services

The number of funds available to private equity investment professionals in Dubai PE firms is less, but business relationships in the private equity sector matter the most.

The syndication and advisory services in the Dubai PE market are fully customizable and can solve customers’ financial issues.

Private equity firms, under advisory support — offer a significant range of services. The services include those from mezzanine and equity transactions to debt structuring. The general advisory service has all services available on demand.

Private equity professionals working in the Dubai PE market maintain healthy professional bonding with top financial institutions and investment banks globally.

Capital Advisory Assistance

Under the sub-division of Capital Advisory Assistance of PE, the services of Dubai-based firms offer major advisory services to Indian firms that seek to expand in the Middle East region.

The Capital Advisory Assistance helps as people consider Mergers and Acquisitions (M&E) deals.

Alongside offering assistance to the Indian businesses, PE firms in Dubai cater to small firms located within Dubai and the Middle East looking for expansion inorganically.

Funds Distribution

Dubai-based private equity firms are mostly MENA-region locale — but they’re regularly seeking investment growth opportunities.

The PE companies of UAE know how to make the commission or cut-it when offering advisory support. The Funds Distribution knows precisely what investors to tap onto.

The prospects PE firms of Dubai regularly seek comprise insurance firms, pension funds, large family-held assets, financial bodies under GCC (Gulf Co-operation Council), and sovereign wealth funds.

Top PE Firms of Dubai

Top Private Equity Firms based in Dubai:

  • Gulf Capital
  • CedarBridge Partners
  • The Abraaj Capital
  • NBK Capital Partners
  • Ithamar Capital

Recruitment Methodology for PE in Dubai

When seeking a position with a private equity job in Dubai or UAE, there is a protocol-process to land your perfect PE job.

Cover Letter and Resume

The first step to applying to a specific PE firm:

  • Go to the company website and find out as much about this company as possible.
  • Are you a good fit for them?
  • Find the Career section and look for HR’s email ID.
  • Send your detailed resume along with a cover letter to the HR email.
  • Ensure that your CV or resume is not more than two pages.
  • Similarly, have a precise and to the point cover letter.
  • Send these two documents to your preferred private equity firm.

Interview Shortlisting

Only 5-10 percent of all applications get shortlisted for personal interviews.

To make it to the short listings — you should give due consideration to what’s written on the “career” page of your chosen PE firm’s site.

Interview Rounds

First Round

The top-notch private equity firms in Dubai usually assign a recruitment agency for the initial round in the interview process.

The agency will conduct your first round of interviews in which your suitability for the job will be judged.

If the recruiter finds you suitable for the company, you will be sent to the next rounds of interviews for further testing.

Second Round

In the second round, you will be interviewed by the solicitor and partner of the PE firm. In the second round, you will be asked a few personality-related and technical questions.

If you qualify for this round, you will go to the next round, in which you will get to meet the HR and the MD of the firm.

Third Round

The third round is your final found. Generally, if you pass this round, you have a good chance of being hired by the firm.

PE Salaries in UAE

The Payscale of a private equity analyst in the UAE earns a median annual pay of AED 200,000.

CPEP (Chartered Private Equity Professional) Certification for those hoping to be hired as a PE Professional

CPEPâ„¢ by USPEC (the United States Private Equity Council).

This body of professionals is a globally-recognized accreditation body in the private equity sector. The CPEP by USPEC is one of the most valuable and industry-relevant professional certifications available to be acquired by the PE aspirants in recent times.

Founded on the world’s most powerful USPEC IFIS™ framework, the CPEP™ credential in the private equity sector has gained widespread prominence.

These professionals are among finance graduates and early-career PE professionals worldwide.

Check out applicability and candidacy for the PE certification before applying on the USPEC’s website.

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6 Futuristic HR Technology Trends Amid COVID-19 Crisis

HR tech trends

Businesses are quickly adapting to the COVID-19 reality where HR technology has made the greatest influence to do so. COVID-19 has accelerated the evaluation, training, and implementation of HR tech trends in businesses of all sizes.

The HR team is actively involved in adopting innovative technologies at all levels like – recruitment process, employee engagement practices, and management processes. An emphasis has been laid on mobile connectivity and visual communication as employees started working remotely. The traditional management approach may not address the new challenges and complexities to keep the employee cycle moving.

Also, HR professionals are turning toward more strategic roles. They are catering to business needs like structuring organizations, strengthening the workforce, and managing talent. So, the repetitive tasks are handled through tech tools paving the way to use their potential to spot trends, decision-making, and becoming the true business partners.

In the survey, we can find how HR projects are delivered on their expected business value as said by employers.

Let’s deep dive into the technical aspects of the HR domain and how best HR leaders are cruising through this storm in the ocean. Here is a quick primer on some of the popular HR tech trends that are developing at an unimaginable speed.

Popular HR Tech Trends Amid COVID-19 Crisis

There is a quick shift in HR functionalities amid the COVID-19 crisis. Here are the HR tech trends that are raising the bar and helping the team to make informed and innovative decisions for the organization.

Artificial Intelligence in HR

AI in HR is on the limelight to lessen the administrative burden on the HR team. Artificial Intelligence can be used for various purposes in HR functionalities like screening, recruiting, online and offline training of employees, managing leaves, detecting anomalies, resolving queries, reviewing performance, absenteeism, exit metrics, and initiating retirements. AI use cases include digital coaching, development planning, recognition, and wellness as per ISG reports, 2019.

In brief, AI can streamline redundant and time-heavy tasks. It can quicken the tasks like surfing hundreds of resumes and cover letters, compiling and analyzing survey data, and many more tasks. Also, it removes human bias or error while evaluating candidates. However, one has to take care that there is no built-in bias while programming the algorithms, as this will continue the issue and may not get noticed upfront.

It is essential to train the systems with the right data and algorithms that are easy and transparent to understand. AI-enabled workplace still requires human skills and that’s where leadership in HR shines.

Robotic Process Automation (RPA) in HR

RPA includes robotic skills like natural language processing (NPL), machine learning, chatbots, and Artificial Intelligence (AI). It helps the HR team to increase productivity as it can speed up communications. Many of the modern HR systems have chatbots that can provide answers to employee inquiries. 50 percent of companies will have HR chatbots by 2022, Chatbot News Daily reports.

RPA has a wide range of applications in HR processes, Deloitte reports. RPA can contribute in many aspects like strategic processes, talent management, operation, and total rewards.

  • The strategic processes include workforce planning management, also, employee satisfaction, organization design, establishment, and implementation of HR policies and programs.
  • Similarly, talent management processes involve recruitment, onboarding, employee development, employee training, performance, competency, global employment, career graph, and succession planning.
  • Likewise, operation management involves data administration, management of payrolls, reports, employee health, employee separation, labor, and employee relations.
  • And, total rewards include salary compensation and other related employee benefits.

As per Deloitte studies, RPA tools are best suitable for processes with repeatable and predictable interactions with improved efficiency and effectiveness of services.

Employee engagement tools in HR

Employers today are concerned with the employees’ financial well-being and health. As a solution, they are providing financial and employee wellness apps like budgeting apps, fitness trackers, wearable apps for health, and more. They are given access to many other apps and platforms for child care too.

Moreover, there are apps provided by healthcare providers that maintain the privacy of health data. Given the pandemic situation and raising remote work culture, there are self-service employee experience portals that facilitate employees to handle HR functions all by themselves. Likewise, remote tools like Zoom and Microsoft Teams are also used in maximum while engaging with employees, interviewing, hiring, and recruitment at the remote. This paves the way for the HR team to focus on people more than processes.

Cloud-computing in HR

Cloud computing streamlines the recruitment process and is capable of transforming the whole HR functions. To mention a few trends are omnichannel models, the Internet of Things, employee wellness, learning culture, agile workforce, and data security.

  • Cloud computing ensures streamlined functions and benefits organizations that have implemented it.
  • IoT acts as the perfect tool through greater connectivity. It can be used to transform data into information at a faster rate. And, storage of this humongous data will not be a hurdle due to the cloud.
  • Cloud communication is much better and fills the missing links in the communication facilitating managers to review, communicate, or provide feedback and all through a single platform.
  • As firms encourage e-learning and online training for employees to upgrade their skills, cloud computing enables employees to meet industrial requirements in a comfort zone.
  • Cloud computing connects the workforce from various geographical locations and profiles easily and gives instant communication facilities.
  • Cloud computing is more reliable for data security as the security measures protect the data to the core.

Augmented Reality and Virtual Reality in HR

Virtual Reality (VR) and Augmented Reality (AR) can be used as a tool in HR toolkit. They help in the recruiting and onboarding process by setting up a simulated environment to test candidates’ specific skills, share a virtual tour of the office, create a personalized work-space environment, improve efficiency, save costs and make engaging recruitment process that helps in branding, training employees in new techniques.

It enables the HR professionals and supervisors to identify key areas of improvement, understand elements of concern for accomplishing goals by scanning people’s faces through sentiment analysis. 49% of Gen Z employees in Singapore believed that VR would revolutionize their work, while 45 % in the US confirmed the same. AR and VR have the potential to elevate a team collaboration levels. Though it is not implemented in an appreciable strength, it is more likely to be the top trend in the near future.

Blockchain in HR

Blockchain technology is poised to manage HR capabilities in different ways. The HR industry is envisioning the use cases of blockchain in their arena vowing to its characteristic features like immutability, transparency, trust, security, and decentralization. A few of the use cases could be –

With its security capabilities, blockchain can handle sensitive employee data like their pay, healthcare, banking, performance records, and expense reimbursement. Blockchain will prevent internal and external hacks of sensitive records as there will be authorized persons only.

It is difficult to determine the employees’ work and education history with the current facilities. With blockchain, the HR team can improve recruiting processes, verify the qualifications of the prospect, and make background checks. All records of the candidate will be present in a block that will get accessed through authorization.

Further, blockchain eliminates time lags in payroll systems even when the company goes global. The blockchain ledger helps to track invoices, facilitate distribution, billing, and reporting of all kinds of transactions. Payroll processing will occur in a timely fashion. It also assists in automating taxes, reimbursement system, mitigate audit risks, and give better access to benefits and packages.

To conclude

HR technology is helping the industries to sustain amid the prolonged lockdown led by the COVID-19 crisis. In addition to these technology implementations, an increased focus toward the people aspect will drive the HR domain toward new work habits and its success.

Image Credit: pexels; pixabay

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