According to a survey released by a global consulting firm, Mercer, salaries in the UAE are expected to increase 4.5% in 2020.
The life sciences and high-tech industries are expected to get the highest push, while the energy industry will continue to see some of the lowest increases.
The results were reached after surveying more than 500 organizations in the manufacturing, retail and wholesale, services, chemicals, life sciences, high tech, energy, and other industries.
Another noticeable thing is that organizations are offering higher increases to executives and managers as compared to employee level individuals.
Here’s what Ted Raffoul, Career Products Leader, Mena at Mercer said:
“It is very encouraging to see that a large segment of UAE employers are looking to increase salaries in 2020. This is a reflection of a resilient and optimistic economy. The UAE is constantly looking at new approaches to progress and develop the workforce further. In addition to annual increases in base salary, UAE companies are also making progress in regards to long-term incentives,”
“The recent introduction of enhanced employee benefits in DIFC, for example, will help companies attract and retain the valuable talent needed to advance and transform different sectors in the region,”
The UAE has one of the lowest unemployment rates among its fellow GCC countries, reveals the survey report, and 45% of the organizations that participated in the survey plan to raise their headcount in 2020 which means more hiring!
A large number of the workforce in UAE consists of Pakistani expats, which means it is great news for Pakistanis working in leadership roles in the UAE.
Let us know your thoughts in the comments!
Stay tuned to Brandsynario for more news and updates.
