Saudi-European Parliamentary Friendship Committee discusses cooperation during Strasbourg visit    Diriyah to host third IMFC Deputies meeting under Saudi chairmanship    15,135 decisions taken to penalize Saudis and expats for violations    Saudi stock market loses half a trillion riyals, with Aramco's losses amounting to SR340 billion Tariff turmoil rattles Gulf markets    KAU to host Digital Communication Conference in Jeddah from April 29 to May 1    TGA: Riyadh tops with 45% of 290 million orders delivered in 2024    Aja and Salma mountains draw nature lovers to Hail's rugged landscapes    US revokes all visas for South Sudanese nationals over deportation dispute    Death toll from Myanmar earthquake rises to 3,471    Macron to hold Gaza summit with Egypt and Jordan in Cairo    Benzema rescues Al Ittihad with stoppage-time equalizer in thrilling Jeddah Derby    Al Qadsiah and Al Ettifaq share spoils in tense Eastern Derby stalemate    Moussa Diaby praises Al Ittihad's resilience after Jeddah Derby draw "When you can't win, you take a point"    Saudi assistant referee Iman Al Madani joins AFC elite list for 2025    Riyadh Art Week launches with over 50 galleries showcasing global artistic dialogue    Turki Al-Sheikh announces five new Saudi film projects to be produced in Riyadh    Saudi Ministry of Education to showcase innovations at 2025 Geneva International Exhibition    Ed Sheeran weaves Persian music into new song, Azizam    Al-Jadaan: Crown Prince's directives confirm government's ability to bring back balance to real estate market    Veteran Bollywood actor Manoj Kumar dies at 87    Screen time in bed linked to insomnia, study finds    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    King Salman prays for peace and stability for Palestinians in Ramadan message King reaffirms Saudi Arabia's commitment to serving the Two Holy Mosques and pilgrims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Entrepreneurs generate jobs,growth despite tough times
Published in The Saudi Gazette on 09 - 06 - 2012

While other businesses struggle to create jobs, entrepreneur led companies expanded their workforce by 16 percent in 2011.
"Global job hot spots: Help wanted", a survey of 400 of the world's leading entrepreneurs released Thursday by Ernst & Young highlights that despite tough economic times, over two thirds of them also expected to hire in 2012. Nor are they temporary or low quality jobs. The majority of the positions require university degrees or substantial experience.
Nearly all of those entrepreneurs surveyed had increased their headcount last year, often by a substantial amount. On average the entrepreneurs surveyed from the Americas grew their headcount in 2011 by an impressive 18 percent. In Asia-Pacific and Europe the increases were 16 percent and 12 percent respectively.
Jim Turley, Chairman and CEO of Ernst & Young, said: "With historically high levels of unemployment, especially among young people, there is a pressing need for economic growth. At this time the importance of entrepreneurs, the companies they lead and the jobs they create is even more critical."
When entrepreneurs were asked what kind of jobs they created (administrative, entry-level with and without university degrees, or experienced), 81 percent said they created roles for 'experienced personnel', while only 35 percent said to have recruited at 'entry level with a degree' and 29 percent recruited 'entry level with no degree'. This trend was most obvious in the US where 92 percent of the respondents confirmed that they hired at an experience level, followed by Australia, 81 percent, Canada, 80 percent, UK, 78 percent and Ireland 76 percent.
Sixty-eight percent of the entrepreneurs surveyed anticipate increasing their workforce in the country where their company is headquartered in 2012.
When asked for more details about their recruitment strategies, entrepreneurs confirmed that 'growth in their product and service markets' was the main reason for expanding their headcount followed by "technological and innovation improvements".
Forty-four percent also expect to increase their workforce outside of their headquarters country. When asked to name the countries where they anticipated creating the most jobs - the US, China, the UK and India were the most popular destinations. When asked why they were recruiting outside their national market in 2012, 74 percent of entrepreneurs confirmed this was in order to help them enter new markets. Only 14 percent said they were recruiting internationally to "take advantage of lower labor costs" and only 8 percent said they wanted to benefit from "better government incentives" in other countries.
Maria Pinelli, Global Vice-Chair for Strategic Growth Markets at Ernst & Young explains: "Whether at home or abroad, in good economic times or bad, entrepreneurs are constantly looking for new opportunities to expand their business and services. Despite an uncertain global economy, entrepreneurs are actively looking to recruit high-qualified and experienced staff."
Factors that may affect 2012 recruitment plans
When the entrepreneurs were asked which factors in their domestic market could potentially impact their bullish 2012 hiring plans, government policies (23 percent) and a negative regulatory climate (16 percent) came on top. – SG "With just a few regulatory changes could greatly improve entrepreneurs' access to funding, which would make even more of an impact on job and wealth creation. Governments worldwide, led by the G20, should really appreciate entrepreneurs for what they are - an engine for growth," Pinelli added.


Clic here to read the story from its source.