Abu Dhabi, UAE — The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment platform Bayt.com have signed an MoU to enhance the retention of competent talent working in the Emirates’ labor market.
The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com, as part of a shared vision of consolidating public-private partnership, benefit from joint resources and expertise, and enhance contribution to economic development through creating new and innovative solutions for the labor market.
Al Khoori said, “The MoU reflects the Ministry’s focus on collaborating with the private sector, to improve the effectiveness of its services provided to employers in the local market, enabling them to achieve the highest levels of efficiency in managing their businesses and projects.”
Rabea Ataya emphasized the significance of collaboration and partnership in enhancing the UAE’s economic leadership position in all areas of development, which in turn, “will lead to the best growth rates for different industries and sectors”.
Ataya added, “As one of the most reliable platforms for recruitment and professional networking, Bayt.com, will share its knowledge and experience in the job market to assist both companies well as employees.”
The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022: the availability of specialized senior managers, employment rate, low unemployment, percentage of the expatriate workforce, and percentage of the labor force in the population.
The country topped several other global labor market indices issued by international entities and institutions. It ranked first globally in the Talent Attractiveness Index as per the Global Prosperity Index 2023, issued by the UK’s Legatum Institute.
The UAE also led the world across several indices within the World Competitiveness Yearbook 2022, issued by Switzerland’s International Institute for Management Development (IMD).
These indices include lack of labor disputes, low cost of severance compensation for workers, and working hours.
The country also stood out for the low cost of severance compensation in the Global Innovation Index 2022, issued by the World Intellectual Property Organization (WIPO).