Employers in the UAE plan to increase salaries by an average of 4.4 per cent in 2023 and are considering benefits such as retention bonuses in an effort to retain employees and attract talent amid a tight labour market, according to a report by global advisory company WTW.
Companies are currently revising budgets for salary increases next year, with 35 per cent of those surveyed citing a higher wage budget than previously projected and 38 per cent saying they are reviewing salaries more often now.
Compensation packages are also under review, with companies planning to offer benefits including one-off cash payments such as a retention bonus or lump-sum payment, a higher base salary increase for all employees or more frequent salary increase adjustments, it added.
The WTW report surveyed 382 UAE businesses and received 22,570 responses from companies across 168 countries.
“Employers are having to pay more than they anticipated to cover inflation and stay attractive to existing and potential staff,” said Laurent Leclere, director of reward data intelligence at WTW UAE.
“The challenging economic climate and the rise of new ways of working are forcing organisations to keep a close eye on pay budgets. Those that don’t will find themselves uncompetitive — their staff will head for the door and at the same time they will struggle to replace them.”
Globally, about 96 per cent of companies increased salaries this year compared with 63 per cent in 2020, while overall budgets have increased significantly over previous years, according to the research.
Amid the global “Great Resignation” trend, attracting and retaining talent has become a key focus for employers as staff demand flexible working models and enhanced benefits after the Covid-19 pandemic disrupted traditional work patterns.
About 49 per cent of companies in the UAE are budgeting for higher salaries during their annual pay reviews this year, according to a June report by professional services company Aon.
The actual and budgeted amount for regular pay increases for a majority of companies in the Emirates ranges from 2 per cent to 6 per cent, the report found.
Meanwhile, 64 per cent of UAE companies said they are allocating bigger budgets for pay rises to address a tighter labour market, while 59 per cent reported rising costs and 44 per cent said employees had higher pay expectations, according to the WTW research.
The proportion of UAE companies seeking to attract key talent has risen to 92 per cent this year, up from 64 per cent in 2021, while those that want to retain existing staff jumped to 90 per cent, from 55 per cent over the same period.
“The tough labour market, especially around certain key skills, means that organisations need to be much more creative to address attraction and retention challenges,” Mr Leclere said.
“It isn’t all about pay.”
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UAE Salary Guide 2022 — in pictures
Technology and engineering skills are the most sought after among employers, with 77 per cent of companies in the UAE seeking to fill IT roles, while 71 per cent want to retain existing IT staff.
For engineering roles, 54 per cent of companies are looking to recruit and 48 per cent want to retain staff, WTW research found.
About 69 per cent of UAE employers have increased workplace flexibility to improve their attractiveness to new staff; 60 per cent have put more emphasis on diversity and inclusion; while 41 per cent offer financial incentives such as starting bonuses, the report said.
Meanwhile, 57 per cent of companies plan to retain existing talent by broadening their focus on diversity and inclusion; 51 per cent are increasing remote working options; and 36 per cent are changing pay structures such as base salary and bonuses, according to the research.
ENGLAND SQUAD
Eoin Morgan (captain), Moeen Ali, Jonny Bairstow, Sam Billings, Jos Buttler, Tom Curran, Alex Hales, Liam Plunkett, Adil Rashid, Joe Root, Jason Roy, Ben Stokes, David Willey, Chris Woakes, Mark Wood
Dates for the diary
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
- September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
- October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
- October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
- November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
- December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
- February 2, 2018 Bodytree will host its 4th annual yoga market.
MATCH INFO
Liverpool 0
Stoke City 0
Man of the Match: Erik Pieters (Stoke)
The specs
Engine: 1.6-litre 4-cyl turbo
Power: 217hp at 5,750rpm
Torque: 300Nm at 1,900rpm
Transmission: eight-speed auto
Price: from Dh130,000
On sale: now
Specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%201.5-litre%20turbo%204-cylinder%20%2F%202.0%20turbo%204-cylinder%20(S3)%0D%3Cbr%3E%3Cstrong%3EPower%3A%3C%2Fstrong%3E%20148bhp%20%2F%20328bhp%20(S3)%0D%3Cbr%3E%3Cstrong%3ETorque%3A%3C%2Fstrong%3E%20250Nm%20%2F%20420Nm%20(S3)%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20December%0D%3Cbr%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20TBA%0D%3C%2Fp%3E%0A
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.
LA LIGA: Sporting Gijon, 13 points in 1997-98.
BUNDESLIGA: Tasmania Berlin, 10 points in 1965-66
Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Museum of the Future in numbers
- 78 metres is the height of the museum
- 30,000 square metres is its total area
- 17,000 square metres is the length of the stainless steel facade
- 14 kilometres is the length of LED lights used on the facade
- 1,024 individual pieces make up the exterior
- 7 floors in all, with one for administrative offices
- 2,400 diagonally intersecting steel members frame the torus shape
- 100 species of trees and plants dot the gardens
- Dh145 is the price of a ticket
MATCH INFO
Juventus 1 (Dybala 45')
Lazio 3 (Alberto 16', Lulic 73', Cataldi 90 4')
Red card: Rodrigo Bentancur (Juventus)
Countries offering golden visas
UK
Innovator Founder Visa is aimed at those who can demonstrate relevant experience in business and sufficient investment funds to set up and scale up a new business in the UK. It offers permanent residence after three years.
Germany
Investing or establishing a business in Germany offers you a residence permit, which eventually leads to citizenship. The investment must meet an economic need and you have to have lived in Germany for five years to become a citizen.
Italy
The scheme is designed for foreign investors committed to making a significant contribution to the economy. Requires a minimum investment of €250,000 which can rise to €2 million.
Switzerland
Residence Programme offers residence to applicants and their families through economic contributions. The applicant must agree to pay an annual lump sum in tax.
Canada
Start-Up Visa Programme allows foreign entrepreneurs the opportunity to create a business in Canada and apply for permanent residence.
