UAE Salaries in 2019 to be Raise
A survey by HR
and Management consultancy companies gives hope to UAE expatriates that salaries
are expected to go up in 2019 with 65% of positive sign by companies.
If it is true than
this is good news for the companies, expat workers and economy where consumption
will eventually increase impacting businesses in a positive way and hence, also
create more jobs in the economy to fill capacity and capability gaps, it will
also help employees (workers) in controlling their expenses.
Salary Increase Report
by 600 Companies:
Korn Ferry a Dubai
based organizational consultancy firm covered around 600 companies in a survey with
almost 429,560 workers across major industries which shows that the increase in
salaries are expected to be implement by 65% of organizations.
The regional
director of Korn Ferry in Middle East & Africa, Harish Bhatia said:
“65% of the organizations
are forecasting an increase in salaries this year. The actual increases may be
dependent on how the global, regional and local economies perform in February.
As of now, the salary increases forecast ranges between 2.5% and 4.5%.”
The managing director
and HR Advisor of Korn Ferry, Jaya Bhatia said:
“the salary rise could go up to 12% is some
sectors.
Jaya Bhatia said,
“Salaries are expected to rise by 4-12% in sectors like transportation, food
and events.
Last year, most
of the hiring was for the posts of chief executive officer, chief financial
officer, tax accountants, finance, business development, sales and IT
professionals.
In 2019, the
predominant demand of hiring will be for positions in sales, marketing, social
media, accounts and information technology.”
She more added “sectors
like hospitality, travel, tourism, food and beverages, FMCG and retail will
also see several recruitments due to an increase in the number of
tourist/visitor arrivals.
Mr Harish Bhatia
said, “Companies in United Arab Emirates have been growing very rapidly over
the last two decades, naturally most industries had to bring in more resources
for this growth phase in 2019.
Now with overall
market conditions stabilizing, we see an increased emphasis on efficiency of
costs, including labours. Hence, we’ve seen a relative slowdown in overall
increase of new jobs in the economy.”
He more added
that “UAE is a very diverse economy with a constantly growing affluent
population. “some good decisions by the government in 2018 on visa regulations
will also drive longer-term commitment and planning by the expatriate employee
force.
He more added
that economic forecasts as per global standard sources also highlight that
inflation in the UAE job market will be controlled in the range of 3-4%, which
may result in a growth of spending power for the UAE workforce.
Post a Comment