A Recruitment Market Update, Insights from APAC and Running a Business Like Leonardo

Welcome to my newsletter! 

This week’s focus –  

A Recruitment Market Update – How the market is looking in the Middle East and Asia Pacific. 

Insights from APAC – Some takeaways from my visit to Singapore. 

Running a Business Like Leonardo – Lessons that can be learned from my favourite Italian restaurant in Singapore. 

A Recruitment Market Update For the Middle East and Asia Pacific 

As we near the halfway point of the year, let’s look at the opportunities and challenges in the APAC and MENA regions.

Asia Pacific 

Coming off Q1, the Asia market was a reassuring picture of stability, though Q2 seems to be reverting to more cautious ways. PR and Communications have seen some solid hiring compared to last year. The DigiTech world is gradually gaining momentum, while Advertising and Creative are remaining flat. 

Businesses are feeling more upbeat than in 2023, but there's still some cautiousness in the air. The upcoming Singapore elections are adding a spot of uncertainty, and despite all the recovery talk, the Chinese economy seems to be stuttering. 

These jittery market conditions mean clients are being extra cautious and hiring processes are moving at a snail's pace. Salaries are being debated and challenged more fiercely than usual, and while there's active hiring happening, the jobs aren't exactly raining down! 

To win roles as a recruiter in this situation, you've got to build that trust and use multiple tools to find clients who you align with. 

Middle East 

Now, the Middle East market, on the other hand, is buzzing.  

Big projects are being announced left and right across the GCC, particularly in Saudi, and the influx of people into Dubai hasn’t slowed down.  

Much like APAC, our placements were mainly in PR and Communications, with the DigitTech sector showing some improvement. Advertising and Creative sectors are the same as last year. 

If we are talking about recruitment dynamics, the market is heavily client-driven, with fierce competition for jobs.

As more businesses keep opening, increased competition is driving down prices and squeezing margins for many. 

This region's reputation for late payments can put a real dent in the cash flow for SMEs, which means delays in hiring on our end as clients get extra cautious about when they'll get paid. 

One trend we keep seeing is that hiring in Abu Dhabi, Qatar and KSA is mostly for National talent, with a limited supply of quality, experienced talent making it a highly candidate-driven market - they're calling the shots. 

Now, while KSA hiring is in high demand, the processes can be quite long, it’s the place to try and find quick wins.

MCG Talent’s strategies in this region include our full buy in to KSA and hiring for that market, adapting our searches to local hiring preferences, and maintaining a positive outlook while adapting to familiar challenges – these are market moves that we’ve seen before! 

We'll keep on building those strong relationships, staying resilient to navigate the tough aspects of recruiting in the region, hosting events, dishing out content, and giving you the market intel. 

Insights from Singapore