It’s a tough job market out there.
MENA unemployment levels are high, graduates are looking for jobs but the future of work hasn’t yet made its presence felt in the region and disruptive technologies are changing the way we think of recruitment.
Oliv, the UAE-based careers platform connecting employers with young talent, hopes to change all of that.
It has closed $2 million Series A funding round led by the Aloshban and Alnamlah Family Groups in Saudi Arabia, and Mohammed Khoory in the UAE,” according to Wamda.
Is a job waiting?
Oliv invest in technology aiming to address youth unemployment in the region by using technology to connect youth talent with employers, and claims to host more than 200,000 students and graduates and over 1500 businesses.
The company said the unemployment rate among young people in the MENA stands at 31%.
That’s a problem, but the World Economic Forum predicts that 65% of today’s primary school students will enter the workforce in entirely new careers that do not yet exist.
“Countries should foster young talent development on AI, cloud, and Internet of Things skills,” argues Schneider Electric, as reported by Trade Arabia ahead of the World Economic Forum held on April 5 and 6, at the Dead Sea, Jordan.
Schneider added 83% of regional employers need leaders with digital skills to meet nationwide transformation and sustainability goals.
Also, according to the Bayt.com Career Development in the Middle East survey, 82% of MENA professionals would leave their companies in search of better career growth opportunities.
AI in recruitment
Suhail Al-Masri, VP sales in Bayt.com wrote in Entrepreneur that employers and recruiters are beginning to leave the traditional ways of talent management, and starting to utilize the power of AI in their HR functions, such as using digitalized screening methods.
He added that Bayt.com Middle East and North Africa Hiring Practices Survey said those surveyed believe that online recruitment has facilitated hiring processes greatly.
IBayt.com reported that CV searches undertaken by employers in the MENA region approached the 3 million mark in 2018 alone, 1.5 million of which were contacted and in parallel, Bayt.com witnessed a 104% growth in job announcements.
AI comes to the rescue in filtering the process and shortening the hiring period from up to 2 months, according to 80% of employers surveyed, to much less than that, also reducing cost.