BS Middle east midterm - Flipbook - Page 3
MIDDLE EAST RISK, GOVERNANCE AND CONTROLS | RECRUITMENT MARKET UPDATE 2024
BARCLAYSIMPSON.COM
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Market overview
Recruitment activity in risk, governance and controlrelated functions has been broadly flat across the
Middle East throughout 2024, and this continues to
be the case as we move through the second half of
the year.
and education sectors across the region.
At a national level, Saudi Arabia and the UAE remain
the busiest hiring markets overall, although much of
this recruitment activity is replacement hiring, with
expansionary plans somewhat subdued.
While many economies worldwide experienced a
post-pandemic bounce in hiring after the peak of
Covid-19 had passed, we are yet to see a similar
pattern emerge in the Middle East. Indeed, contrary
to some media reports of strong hiring demand, the
region's employers remain cautious on the whole.
Looking ahead, we are nevertheless optimistic for
the recruitment outlook in the latter half of this year
and beyond.
A number of markets are bucking these broader
trends, however. For example, digitisation programmes
and the development of tech-driven services in
financial services have led to elevated hiring in these
areas. There has also been increased demand for
candidates in the liquidity risk space among a range of
firms, including consultancies, banks, sovereign wealth
funds (SWFs), brokerages and fintechs.
Outside of the financial services industry, large-scale
state-driven transformation projects have gained
momentum, creating significant activity in the health
Many organisations appear to be delaying hiring
decisions until the economic and political backdrop
becomes clearer, both domestically and abroad.
The resolution of several key leadership elections,
including in the US and the UK, as well as a
potential drop in regional interest rates, is likely to
kickstart hiring demand over the coming months.
Multiple countries within the region also have
comprehensive economic development plans in
motion, which aim to drive growth and boost jobs by
2030. All of these factors point to increased hiring
for the remainder of this year and into 2025.
