Lender prioritises expansion in digital banking sector
finance3 hours ago
Almost half of the students eager to gain work experience, by taking up internships in the UAE, are not paid for their work, a new survey has found.
The 'State of Internships and Graduate Jobs - UAE 2018' survey conducted by Oliv showed that 40 per cent of UAE graduates are taking unpaid positions in order to secure experience and gain new skills.
Jean-Michel Gauthier, CEO of Oliv, believes that unpaid internships is a trend that needs to go if companies want to pursue and hire the highest quality candidates.
"More than 90 per cent of the companies we work with on our platform have some form of payment for interns, and this is something we strongly encourage for companies to get the most out of the internship programmes. Creating an effective internship programme takes time and investment from the employer but the payoff is attracting serious and skilled talent," he said.
In light of the findings, Oliv has also produced a guideline to help organisations work out the best pay bracket for the positions they are offering. Each sector and role differ but averages stand at Dh3,000 for SMEs and Dh4,000 for MNCs.
"This is only a guideline and we appreciate it may not always reflect the truest values for rewarding an intern. Of course, salaries for internships vary, based on the level and intensity of a role, whether it is sales-based or tied to a target, and so on," he said. "Being paid for an internship isn't the sole purpose of applying for or accepting one but it goes a long way in contributing to a holistic experience of entering the working world and is a fundamental part of the experience."
Having a steady supply of skilled and educated graduates in internship programmes can reduce costs and ultimately save a company money. Initial costs associated with visas, medical, and insurance don't apply to interns, and with a developed and engaging programme, companies are ensured a pipeline of loyal employees.
"Even when you look at the long-run, training skilled workers from the ground up can have a massive pay off when it comes to filling senior positions. The supply chain within the organisation reduces acquisition cost by a considerable amount," Gauthier stressed.
- business@khaleejtimes.com
Lender prioritises expansion in digital banking sector
finance3 hours ago
Acquisition reinforces Adnoc L&S’ position in energy maritime logistics
business3 hours ago
Deerma introduces new home appliances at OrroHome Dubai
business3 hours ago
Salomon launches first UAE store in Dubai Mall
business3 hours ago
Nandy was not only a celebrated journalist but also hosted a popular talk show, 'The Pritish Nandy Show', on Doordarshan in the 1990s
entertainment3 hours ago
Those building homes outside allocated areas receive Dh400,000 less in housing aid than those who choose to build within those communities
uae4 hours ago
Many homes have been lost in the Pacific Palisades area, a favourite spot for celebrities where multimillion dollar houses nestle on beautiful hillsides
world4 hours ago
The Azerbaijani has already become a loyal participant of the draw since its launch
uae5 hours ago