UAE News: 10% salary increase next year
Employers are expected to provide up to a 10% salary increase next year.
According to a report issued on Sunday by recruitment and HR advice firm Cooper Fitch, salaries in the UAE would grow by 3% on average in 2022 as the economy continues to recover next year, owing to the favorable influence of Expo 2020 and the Fifa World Cup on several industries.
10% salary increase next year
According to the report, 41% of companies boosted pay in 2021, with the advising, HR, manufacturing, technology, strategy, and public sectors among those that saw increases of up to 10%.
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In the UAE, 43% of firms plan to raise pay in 2022, with 35% raising salaries by 0-5 percent, 4% increasing salaries by 6-9 percent, and 5% increasing salaries by 10% or more.
Around 37% of area businesses reported they have no plans to raise staff compensation next year. Surprisingly, 19% of respondents claimed they will cut pay by up to 10% in 2022.
