Survey reveals many companies in the region plan pay rises of 5% to 15%
By Cleofe Maceda, Senior Reporter
Published: 00:00 March 10, 2012
The first quarter of the year is almost over, and if you haven't heard about your annual bonus or job promotion, don't feel let down just yet because there may be something else to look forward to this year.
According to a recruitment platform, many companies in the Gulf Cooperation Council (GCC) are actually planning to give out across-the-board pay increases of between five and 15 per cent this year.
Those planning the increments are in various industries including oil and gas, construction and engineering, automotive and business process outsourcing.
The latest Hiring Outlook Survey by Naukrigulf.com, which surveyed the human resources heads of 60 companies in the Gulf, showed that nearly half (49 per cent) of the employers will grant five to ten per cent salary adjustments in 2012.
About 20 per cent confirmed plans to grant increments ranging between ten and 15 per cent. A small portion, 13 per cent, said they will increase their staff wages by less than five per cent.
A little over half of the companies surveyed are from the UAE, while the rest of the respondents are from Saudi Arabia (21.43 per cent) and other GCC states (23.21 per cent).
According to Naukrigulf, the planned wage adjustments are a strong indication of the general positive sentiment among employers in the region.
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