Describe the status of implementing the jobs outlook analysis among companies working in private health sector in the United Arab Emirates.
Dissertation title:
Understanding the effect of implementation of jobs outlook analysis on company profitability in private health sector in the United Arab Emirates
Introduction:
Job outlook: a statement that conveys the projected rate of growth or decline in employment in an occupation over the next 10 years; also compares the projected growth rate with that projected for all other occupations (U.S. Bureau of Labor Statistics 2022)
Related jobs: When used in this research, it refers to jobs that are significant for the value production as identified during business planning, and those could be needed immediately at the business launch, or in the future during the planned business expansion.
Background:
The labour cost is an important factor in business profitability (Hultgren 1965). Being one of the economic factors that affect the business environment as described in PESTEL framework for scanning the business environment (Aguilar 1967), labour cost is expected to be studied and analysed by entrepreneurs during the conduction of the business environment analysis. As part of the dynamic business environment, labour cost could be changeable over time, and the increase in labour cost may affect cost of production and business profitability.
Therefore, it is expected that entrepreneurs study the future of labour cost during business planning through looking for the lob outlook of the related jobs.
The healthcare sector in the United Arab Emirates is continuously growing responding to population growth (Sector updates, The U.A.E healthcare sector Business council Report 2021). Private healthcare sector total share of healthcare expenditure was 28.7% in 2015, with governmental expectation to reach 39.3% by 2025 (Sector updates, The U.A.E healthcare sector Business council Report 2019). While more than 90 % of the UAE health professionals are expatriates (Paulo, Loney and Lapão 2019), many other immigrant destination countries attract healthcare workers due to the world-wide shortage in healthcare professionals, especially that many medical staff consider the country as a step to obtain experience before moving to practice in a western country which lead to high turnover among expatriate health workers (Sector updates, The U.A.E healthcare sector Business council Report 2021). Moreover, the government has initiated implementation of additional measures to decrease the cost needed for growth (Sector updates, The U.A.E healthcare sector Business council Report 2021).
The givens above make the outlook the healthcare jobs in the UAE uncertain, and the projection of future labour cost seems to be significant to maintain the profitability of private healthcare business in the UAE.
While much research studied the relation between labour cost and business profitability from different aspects, no research was found to study the impact of using labour cost projection to predict company profitability. This could be more significant in healthcare sector in the United Arab Emirates where the shortage of skilled workers is highly expected with its expected consequences on cost of labour where companies can benefit from analysis of the job outlook.
Research aim:
To understand the effect of implementation of jobs outlook analysis on company profitability in private health sector in the United Arab Emirates.
Research objectives:
- Describe the status of implementing the jobs outlook analysis among companies working in private health sector in the United Arab Emirates.
- Find out how studying the outlook of health professional jobs affects the company profitability in private health sector in the United Arab Emirates.
- Identify the barriers and facilitators for implementation of jobs outlook analysis in private health sector in the United Arab Emirates.
- Identify the effect of availability of information about jobs outlook of health professionals on entrepreneurs’ selection of the industry to invest in.
- Identify the effect of availability of information about jobs outlook of health professionals on entrepreneurs’ selection the market to invest in.
- Explore the tactics used by entrepreneurs working in private health sector in the United Arab Emirates to mitigate the effect of changing of labour cost on company profitability.
