As the UAE job market progresses with an increase in job openings this year, reports also suggest an increase in the salary. The MENA Salary Survey 2017 released by Bayt in collaboration with YouGov, a leading market research agency, has revealed that 44% of workers believe that salaries are set to increase this year, 24% thought their salary would stay the same and 32% of those surveyed have a pessimistic outlook.
According to the respondents, the factors contributing to the increase in their salary include increased profitability or good performance (33%), inflation (32%) and economic growth (28%) in the UAE.
In terms of salary packages, data reveals that the majority of employees receive a basic salary and benefits, as the following figures shown in the chart below.
The majority of surveyed workers (58%) have a salary composition of Basic Salary plus benefits. Medical insurance (52%) is the top benefit provided by employers followed by an annual leave ticket (37%) and transport allowance (30%).
The survey also pondered upon the important factors driving the loyalty of employees in the region. According to Bayt survey, “Besides salary, the line manager (33%), career advancement (33%), nature of daily responsibilities (32%), training & development opportunities (32%), fun office environment (32%) and colleagues (31%) all emerged as important drivers of employee loyalty.”
The survey further goes on to find out the extent to which loyalty to the company is linked to the salaries. Half of the surveyed respondents (50%) in the region indicated a link between their loyalty and salary at least to some extent whereas a 39% claim that their loyalty is not linked to the salary they receive. The remaining 11% don’t know or can’t say.
The survey found that 15% of the workers in UAE are looking for a job in another country. The rest of the workers (85%) have some good opportunities to look forward to in the UAE with an upward trajectory to be seen in the job market. A quick look at the LinkedIn job site shows the vast number of job openings in the region. According to Bayt’s Middle East Job Index report, the recruitment activity in the UAE is starting to pick up with plenty of job opportunities seen in the first quarter of 2017. There has been a 3% increase in job postings from end of 2016 to March 2017, as per the report.
Exciting times coming up in the Middle East!
