UAE employees to get inflation-busting pay boost
Private sector companies in the UAE are expected to increase employees’ salaries above the inflation level next year, although the negative impact of low oil revenues is being felt across the region.
Pay adjustments in the UAE are predicted to reach 5 per cent in 2016, much higher than the forecast 2.7 per cent inflation rate, giving employees “real increases” in their incomes, according to the Towers Watson’s latest salary budget planning study.
Those working in the financial and professional services, as well as in energy and natural resources industries, have more reasons to be upbeat , with their salary adjustments forecast to be higher than what they got this year.
Across-the-board salary adjustments, however, are less likely to happen, because most companies intend to allocate the chunk of their salary increase budget to high performers, and only a few have plans to grant a uniform pay rise.
Private sector companies in the UAE are expected to increase employees’ salaries above the inflation level next year, although the negative impact of low oil revenues is being felt across the region.
Pay adjustments in the UAE are predicted to reach 5 per cent in 2016, much higher than the forecast 2.7 per cent inflation rate, giving employees “real increases” in their incomes, according to the Towers Watson’s latest salary budget planning study.
Those working in the financial and professional services, as well as in energy and natural resources industries, have more reasons to be upbeat , with their salary adjustments forecast to be higher than what they got this year.
Across-the-board salary adjustments, however, are less likely to happen, because most companies intend to allocate the chunk of their salary increase budget to high performers, and only a few have plans to grant a uniform pay rise.