Posts tagged ‘careers’

How will “VAT – VALUE ADDED TAX” effect the UAE – Economy and Employment

VAT is scheduled to come into effect from January 1, 2018.

 

What is VAT?

 

Value Added Tax (in short VAT) is an indirect / consumption tax on the supply of the goods and services

–              Implemented in more than 150 countries across the globe

–              All 29 EU member states have implemented

–              Including countries like Canada, New Zealand, Australia, Singapore and Malaysia

 

Why in UAE?

 

In UAE high-quality public services are provided to its citizens and residents at a cheaper / much lower price

–              To bring-in alternate revenue sources which will help them reduce dependency on Oil

–              VAT will be a new source of income / revenue in UAE

 

What would be the impact in UAE?

 

“VAT is expected to yield Dhs12 billion in the first year of its implementation and up to Dhs20 billion during the second year,”

– Sultan Al Mansouri, Minister of economy.

(Reference – The National)

 

Flowers:

 

–              VAT, a new source of income

–              A contribution to the quality of the public services even in future

–              It will also help the government to take a step forward towards its vision of reducing dependency on oil and other hydrocarbons

–              Creating a more stable economy

–              Even at a low rate, VAT has the potential to raise huge amounts of revenue.

–              As UAE is one of the most globally ambitious countries, with trillions of dirhams of infrastructure projects scheduled in the next ten to 25 years, creation of a stable revenue stream is good practice by the government.

(Source: www.timeoutdubai.com)

–              Education and Healthcare are Zero-rated

–              Two terms to remember

o             Exempt (VAT has to be paid, can’t apply for refund)

o             Zero-rated (VAT is not applicable or can be refunded)

 

Thorns:

 

–              Cost may go up by 5% which is minimal and affordable

–              UAE being one of the costliest countries in the world, 5% additional would raise questions

–              94 food products are exempted

 

What is the Conclusion?

 

But set at five percent, the new levy seems a small figure when compared to the 150 countries already implementing VAT or a similar method of taxation (in the UK, for example, VAT is 20 percent).

Yes, we might see a general rise in our cost of living, but with the GCC members having already agreed to exempt 94 food products, as well as school fees and healthcare bills, from the new taxation, so there is no need to panic.

 

What will be the immediate effect on recruitment, hiring patterns and job creation?

 

There’s likely to be a mini consumer boom before the end of 2017 and also an upsurge in vacations and hotel room bookings before VAT sets in, there could be an increase in hiring in the retail and hospitality sectors to cope up with the consumer spike.

 

The demand for accounting, finance and tax executives, as well as information technology (IT) professionals is only expected to grow as the VAT rollout draws closer. Any company that procures or sells products and services in the UAE will now have to beef up preparations for the collection of VAT, upgrade their processes and look at the different aspects of their business, from the supply chain all the way to the end customer.

 

Considering that several organizations will be on the lookout for talented professionals for their VAT implementation, there will be a shortage in IT implementers to do the ERP transformations and more critically, a major shortage in suitable skilled staff with knowledge of VAT and the requirements to implement VAT across the business processes

 

It’s safe to say that thousands will be recruited. However, a lot of professionals without relevant experience will lose their jobs because they are not qualified or experienced in the area.

 

A recent survey by a leading talent search organization has found that larger organizations with a higher headcount are better prepared for VAT implementation, as compared with smaller organizations. This survey also reports that many companies have not assigned a budget for VAT implementation and therefore could be implementing VAT without increasing headcount spend and introducing the new laws using their existing workforce.

 

“Gig’ economy to phase out lifetime careers?

(Financial Times)  The typical cog in a machine job in a typical work place are not the only jobs available. The new world of work has jobs which are both more exciting and less secure. There is greater variety, in both pay and conditions. A job is more likely to be part-time, temporary, freelance or self-employed. It may not be a job at all, in the way it used to be defined.

 

Job sites such as Monster.com and platforms such as Uber, could add 2 per cent to global gross domestic product by 2025, increasing employment by 72m full-time equivalents. As the number of micro-firms, Freelancers and independent contractors grown many young people believe that the best days for freelancers lie ahead.

 

Gone is the era of the lifetime career, let alone the life-long job and the economic security that came with it, having been replaced by a new economy intent on recasting full-time employees into contractors, vendors and temporary workers.

 

The gig economy is only part of a shift in employment over the past three decades, unleashed by technology and global trade. It has created many winners and losers, both by outsourcing jobs from the west to Asia and Africa, and by changing the terms on which most people work. Financial and contractual risk that used to be borne by companies has been transferred to employees.

 

Yet this world of insecurity and risk is also one that many people seem to appreciate. More self-employed people in Europe and the US report enjoying their jobs than those who are employed. Many entrepreneurs, even those who run a tiny business that amounts to self-employment, like their freedom and self-reliance and the possibility that they could become wealthy and see lot of lot of potential in the new world of work .

 

The ideal working life for many millennials is not finding a safe job that will last them a lifetime but creating a technology start-up, a glamorous form of small business that is backed by angel investors.

 

The challenge for policymakers is to find a new form of employment contract that suits the changing workforce. Benefits such as pensions and sick leave are often attached to permanent jobs and increase with longevity. As jobs fracture, individuals who switch jobs, work as consultants or run “micro-businesses” with one or two employees need similar support.

 

The task is to limit the downside of the new economy without curtailing job growth or preventing people from working in the way they prefer. There is a danger of romanticising the past benefits of permanent full-time employment and fixed-job contracts when many now want alternatives.

 

While most people prefer freedom from typical jobs; the new world of work must chart a course between the twin dangers of corporate conformism and worker exploitation.

Attracting and Retaining Employees for Brand Building

(people matters) The eCommerce boom brings with it difficulty and opportunity. Hiring and retaining good talent has become a pressing issue for IT companies who are facing acute skill shortage. Considering the fight for top talent, companies need to build and showcase an effective brand and attract better and more qualified candidates. This is long and effort taking work by leadership teams over several years.

 

These days, organizations invest heavily in advertising and marketing to increase visibility and awareness. Data supports that one of the most effective method is to have employees speak highly about the organization. There’s nothing more reliable than what an employee says about working in an organization. It is the absolute truth.

 

Perception is reality, so whatever people are thinking and saying about your brand, is your brand.

 

So how does one get employees to speak highly about the organization?

 

While employee engagement is an on-going activity, it is true that employees talk about the new organization and lot more in the first few months of joining than they would after a few months. These is when they are most excited, and tend to discuss their new organization with their ex-colleagues, ex-bosses, friends and families the most. Organizations have to ensure that the candidate’s induction experience is absolutely top class.

 

Improve recruitment experience

 

You may not hire every single candidate who comes for an interview, but it’s still important to take care of him or her. Show them you care and don’t take them for granted.

•    Meet, greet and seat.

•    Communicate so they know what to expect, especially if the process is going to take longer than expected.

•    At the end of the interview, let the candidate know what the next steps would be and when they can expect a call.

•    Call candidates who don’t make it and provide feedback on the reason. It will help them perform better in their next interview and they would be grateful

•    Start spending 5 more minutes with each candidate. It always helps.

Improving recruitment experience for each and every candidate will immensely help the brand image as perceived in the outside market.

 

Improve early joining experience

 

New employees go through several anxious moments. Organizations should put in adequate effort to ensure that this experience is as seamless as possible.

 

Day 1 experience is critical

 

Make the employee feel warm and welcome on day one. The employee should feel comfortable and happy with his/her decision to join the organization.

 

Constantly seek feedback during the first 3 months

 

Create a mechanism where there is high engagement with the new hire. The communication should be 2 way where the organization reaches out to the employee constantly to seek feedback and the employee can also raise issues and grievances with the comfort and confidence that it will be resolved.

 

Senior leadership to meet and share organizational goals and vision

 

High involvement from the senior leadership increases faith and trust that an employee has in an organization.

 

If an organization gives all their candidates and new hires an absolutely ‘WOW’ first impression and experience, the good word can spread really fast and will also go viral on social media. This would encourage more candidates to apply and join as there is a brand perception built in the market and the employee feels that this organization will be a great place to work in.

Author: Krish Hanumanthu

 

 

 

 

Negotiating an on Campus Recruitment offer Forbidden? Not Really!

Looking for jobs in Africa? Final year campus recruitment? Most organisations recruiting on campus offer the same standard packages and avoid negotiating with new recruits. While negotiating aggressively could backfire with the employer retracting the offer, not negotiating may affect future pay increases, bonuses or other perks.

 

Negotiation is not recommended but certainly not forbidden. Some tips to negotiate carefully for a better offer.

 

PROBE FOR SIGNS OF FLEXIBILITY

 

Find out areas where which potential employers may be flexible. You could probably ask them for a start date of your preference, a more senior position if you have special expertise or experience or move to a less-popular location that could qualify you for a customized package.

 

TAKE A LONG-TERM PERSPECTIVE

 

Consider long terms prospects when comparing job offers from multiple organizations.

Checking out with ex-alumni from your school who have worked for the firm for several years – or by asking your interviewers directly, you can get more information on long term monetary benefits.

 

CREATE A SCORING SYSTEM.

 

Some of the most important factors in accepting a job offer could be role, location, department, pay package and amount of travel required.

A candidate should decide the factors important to them weigh the job offer on those elements and then negotiate based on one or two issues most important to them.

 

DEMONSTRATE FLEXIBILITY

 

Candidate should be willing to work as per the employer’s requirement such as in the busy season and think how they could deliver more value to the employer; this would also inspire the employer to be more flexible towards them.

 

Job of the Day – SERVICE ENGINEERS (GENERAL AND UNIT SHOP-Automobile Sector), Nigeria

Company Brief: The Group is  involved in Pharma, Industrial Chemicals, Polyethylene, Automobiles, Steel, Plastic products, Table Water, Rice Mill, Electronics  in both importing and manufacturing, with a turnover exceeding USD 500 Million

•Designation: SERVICE ENGINEERS (GENERAL AND UNIT SHOP-Automobile Sector)

•Location: Nigeria

• Brief job profile: The incumbent will be responsible to handle Service Operations for a KOREAN BRAND of cars.

• For more details Check: http://datum-recruitment.com/jobs-367.html

Sharpen your communication skills for work – 2

(Yahoo.com) Communication is arguably one of the most important business skills, no matter what your industry. Here are some tips to help you communicate better with co-workers and clients.

 

1. Check your grammar.

 

Be error free. Proofread and run a spell check on anything you type–be it an email, Tweet, or letter.

 

2. Keep criticism constructive.

 

Be generous with praise when a job is well-done and add in tips and for improvement for the not-so-perfect work. Criticism is a feedback. It is not supposed to be emotional or insulting.

 

 3. Restate what you hear.

 

Summarize the important points presented by your co-worker or boss to show you are listening and understand what you were told. A good way to clarify and clear any confusion

 

4. Get a little personal.

 

To have a comfortable working relationship, initiate chats on a few general, personal things outside their work life. But take care to not cross the line.

 

5. Never stop improving.

 

Effective communication is a skill you must practice, keep learning and improving.

 

Sharpen your communication skills for work – 1

(Yahoo.com) Communication is arguably one of the most important business skills, no matter what your industry. Here are some tips to help you communicate better with co-workers and clients.

 

1. Listen.

 

We need to listen to understand what someone needs or wants. Most of us interrupt, prepare our response, or think we already know what the speaker is going to say next.

 

2. Pay attention to body language.

 

Body language can communicate a lot. Your co-worker promises a deadline but wrings her hands while she says it. That means she is not sure she can.

 

 3. Consider communication preference.

 

Not everyone likes to communicate the same way. For faster and effective communication switch to the communication mode the other person prefers – Email, phone, text, social media or instant messaging.

 

4. Consider your tone.

 

It is important use the right tone and clear language to get the message across, so that so nothing is misconstrued to cause an unintended reaction from the recipient. This is essentially true for Email and social media.

 

5. Don’t be too casual.

 

Being friendly with your work colleagues can help you do your job better but being too casual may make others feel uncomfortable. Make sure your emails, meetings, and phone calls are professional.

6 Things to avoid on Your Resume

Yahoo! Finance shares some resume blunders.

 

1. Short-term jobs.

Mentioning short term jobs could indicate you are noncommittal and flighty. For short term jobs or consulting arrangements, you can add them into a section for one year. For consulting arrangements, make sure it’s clear in your resume that it was not a full-time, permanent position.

 

2. Job experience that doesn’t relate.

 

It is better to leave out irrevalent job experience, but if you are low on work experience, find ways to connect the unrelated work to what you want to do. You might be surprised to find that some of the skills you learned will translate for the job you want

 

3. Every responsibility you had at a job.

 

Please mention only those responsibilities in the earlier profile, relevant to the job you’re applying for. The interviewer will be able to better understand your capabilities and experience for the new profile.

 

4. References.

 

While you don’t have to include the list of references with your resume, it is important that you have and will provide references when it comes to that point in the interview process.

 

 

5. Hobbies.

 

Your Hobbies can create a positive or negative impression on the interviewer. Do not list a hobby that does not relates to the job you want and it’s not covered in your job experience.

 

6. Why you left a job.

 

Sharing this information on a resume could easily cast you in a negative light. This can be better discussed in person in an interview.

How to wreck Your Career

(Yahoo Finance) Unintentional–even innocent–mistakes can dim a bright career future. Have a look at some common career blunders some tips on how to avoid them.

 

1. Make emotional, rash decisions. Being impulsive and quitting a job in haste. It will wash away years of hard work. The career decisions people most often regret are those that are made in haste when emotions are running high.

 

2. Be reactive.  Signs of trouble? Expecting layoffs or the organisation to sink? Plan ahead, take action and take control of the situation before unemployment hits you.

 

3. Avoid self-reflection. You are not perfect. If you do not take responsibility for your shortcomings, and commit to improving them, it is a career faux pas.

 

4. Wing it. Don’t be vague about your career. You need to know where you’re going and have a map to the way up to succeed.

 

 5. Get comfortable. Being in a comfort zone is a big NO. You need to stay ahead of the ahead of the competition, learning new skills and pushing yourself to new levels

How to spot a great candidate

(Inc) While most candidates ask questions to look smart, Great candidates ask questions because they’re evaluating you, your company–and whether they really want to work for you.

 

The bulls eye questions top candidates ask:

 

What do you expect me to accomplish in the first 60 to 90 days?

 

They are the ones who want to want to make a difference–right away. They don’t want to spend weeks or months “getting to know the organization.”

 

What are the common attributes of your top performers?

 

Great candidates also want to be great long-term employees. Every organization is different, and so are the key qualities of top performers in those organizations.

 

Great candidates want to know if they can fit in and be a top performer.

 

What are a few things that really drive results for the company?

 

Employees are investments, and every employee should generate a positive return on his or her salary. They want to know what works to solve problems and helping the company succeed.

 

What do employees do in their spare time?

 

Great candidates usually have other job options. They want to know if they will have good colleagues and can fit in the organisation. After all happy employees are better employees.

 

How do you plan to deal with…?

 

Great candidates hope for growth and advancement. They want to know what you plan to do in case of a major challenge: technological changes, competitors entering the market, shifting economic trends and how they will fit into those plans.