Salaries In UAE to increase by next year.
Good news for overseas Filipino workers (OFWs) working in the United Arab Emirates (UAE) and in nearby areas. If you are currently employed, then listen up and brace yourselves for a positive change in your salary possibly within the next year.
A recent report confirmed that despite the massive oil price slump, salaries in the UAE and other Middle Eastern countries are expected to increase at least by 2017.
According to an Arab News report, compensation and rewards experts are indeed forecasting a pay hike of around 4.6% in the UAE while salary increase in other countries may even be potentially higher.
Arab News goes on quoting the recent research on compensation and rewards, pointing out that many employers are seeing salary hike as an important way to boost the performance of their employees. They firmly believe that rewarding their workers with higher pay can be a huge contributing factor in achieving success in their respective business fields.
Laurent Leclère, senior consultant and data services lead for the Middle East at Willis Towers Watson, said that “effective use of the company’s salary budget should be high on reward professionals’ agenda.”
Willis Towers Watson’s General Industry Compensation Survey Report even went as far as specifying that a 4.6 per cent salary increase is likewise expected in Bahrain, mentioning that Lebanon will most likely see the biggest growth at 5.4 per cent, followed by Saudi Arabia and Kuwait (5 per cent) and Qatar (4.8 per cent).
So if you are currently employed in UAE and the countries mentioned, do take some notes. Of course, this is also fantastic news for individuals targeting to get employed in these areas soon.