Employers in the UAE are set to go on a hiring spree in 2022 and raise salaries by an average 4 per cent as demand for jobs pick up amid the UAE's post-coronavirus economic recovery, a report by Mercer found.
Attracting and retaining employees will also require an increased focus on flexible working policies such as hybrid or remote working, Mercer said in its 2021 Total Remuneration Survey on Tuesday.
Mercer polled 599 UAE companies across a range of industries, including manufacturing, retail and wholesale, technology, chemicals, consumer goods, life sciences and energy.
“Signs of growth abound and are evident in the increased hiring activity that we have seen in 2021 and the positive forecast for 2022,” said Andrew El Zein, a career department associate for the Mena region at Mercer.
“Employers are prioritising hires for in-demand skill sets that will support future business growth. However, the talent pool is still developing, causing somewhat of a talent war.”
Since the Covid-19 pandemic began in March last year, the UAE has spent billions of dirhams in economic stimulus measures to support businesses.
Business activity in the non-oil private sectors of the Arab world’s second-biggest economy continued to improve in October, boosted by the easing of Covid-19 restrictions, a rise in tourism and increased spending amid the economic recovery.
The UAE's headline PMI reading climbed to 55.7 in October, from 53.3 in September, underpinning a marked increase in new business during the month, driven by rising spending amid the opening of Expo 2020 Dubai.
A reading above 50 indicates economic expansion while anything below points to a contraction.
The findings from the Mercer survey suggest an overall salary increase of 4 per cent in 2022.
In 2020, 14 per cent of companies froze salaries, while this dropped to 10 per cent in 2021, the Mercer study found. For 2022, Mercer expects only 5 per cent of companies in the UAE to freeze salaries.
“To attract and retain top talent, employers must look to maintain pace with marketwide salary growth and benefits,” Mr El Zein said.
To attract and retain top talent, employers must look to maintain pace with market-wide salary growth and benefits
Andrew El Zein,
career department associate for the Mena region at Mercer
“Optimism is strong when looking at 2022, with many UAE companies forecasting a higher wage increase in order to attract and retain top talent, particularly in competitive fields.”
The technology and energy sectors are lagging behind slightly on salary increases of 3.5 per cent and 3.4 per cent, respectively, the survey found.
However, industries expected to outpace growth include life sciences and consumer goods, at 4 per cent, as a result of the “robust performance of the sectors during the pandemic”, Mercer said.
“This year’s Total Remuneration Survey shows positive sentiment towards hiring trends and salary increases, although not quite at pre-pandemic levels,” said Ted Raffoul, career products leader for the Mena region at Mercer.
“Companies must focus on continuing to provide flexible working models to employees in order maintain a strong proposition as an employer.”
However, the increased competition for employees with in-demand skills has forced employers to readdress their compensation and benefits strategies to attract and retain staff, the survey said.
“Companies are increasing their focus on long-term incentive plans, particularly for executives and those with experience in specialised fields. A key benefit that employees are seeking is that of flexible working, which has been in demand globally,” it said.
On Monday, a survey by professional network service LinkedIn found that remote job postings have more than doubled in the UAE as companies adapt to changing preferences in the workforce caused by the pandemic.
The biggest concern for business leaders is that employees working from home may feel it is harder to climb the career ladder, the LinkedIn survey found.
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UAE salary guide 2021
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Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer)
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Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana
Stars: 3
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Federer's 11 Wimbledon finals
2003 Beat Mark Philippoussis
2004 Beat Andy Roddick
2005 Beat Andy Roddick
2006 Beat Rafael Nadal
2007 Beat Rafael Nadal
2008 Lost to Rafael Nadal
2009 Beat Andy Roddick
2012 Beat Andy Murray
2014 Lost to Novak Djokovic
2015 Lost to Novak Djokovic
2017 Beat Marin Cilic
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The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
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50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
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WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Chris Jericho
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v tba
The specs
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US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
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- Shortened leave to remain - refugees will receive 30 months instead of five years
- A longer path to settlement with no indefinite settled status until a refugee has spent 20 years in Britain
- To encourage refugees to integrate the government will encourage them to out of the core protection route wherever possible.
- Under core protection there will be no automatic right to family reunion
- Refugees will have a reduced right to public funds
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
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