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Salary Hike On The Cards For UAE Employees : Survey

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Staff Writer, TLR

Published on July 14, 2023, 17:41:00

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Salary Hike

As a new year bonanza, the employees in UAE are expected to receive salary hikes in 2022 owing to the steadily progressing economy. A survey released on Sunday by recruitment and HR advisory firm Cooper Fitch stated that salaries in the UAE will increase by 3% on average in 2022 as the economy continues its recovery, thanks to the positive impact of Expo 2020 and the Fifa World Cup on multiple sectors. 

"The UAE is buoyant, and we have seen the market recover significantly, after the challenges faced in 2020." We expect 2022 to be a year of continued growth. The Expo will run until the first quarter of 2022, and the start of the FIFA World Cup in Qatar will almost certainly contribute to significant growth across multiple markets due to Dubai's status as a major tourism transit and business hub," said Trefor Murphy, CEO of Cooper Fitch.

The survey said that 63% of UAE firms plan to pay out bonuses in 2021.Companies were also asked if they planned to offer bonus schemes in 2022, and a staggering 74% said they would, with 46% offering 1-2 months' gross salary and 21% offering 3-5 months' gross salary. It appears that 2022 will see a return to near-full bonus pay out, with exceptions for struggling organizations.

Despite the challenges posed by the Covid-19 pandemic, Jobs in 2021 has been a year of recovery and growth in the UAE, which has been reflected in the job market. The Cooper Fitch survey states that 30% of organizations reduced their headcount in 2021. Over half of them (52%) made no changes to their headcount this year, while 18% increased it. In 2022, 23% of organizations will reduce their headcount, while 59% will increase their headcount by 10% or more.

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