UAE employers need to boost salaries to retain audit and HR staff



Employers in the UAE will need to increase the pay packages they offer for accountancy, HR and other managerial staff as the global economy picks up, according to recruitment firm Robert Half.

It said that as markets in the United States, Europe and the United Kingdom return to pre-recessionary levels of employment, UAE companies “are having to compete on an international scale” to attract top candidates as the perceived benefits of relocating to the country have weakened.

A decline in all-inclusive relocation incentives, combined with higher living costs, means that businesses are having to increase pay to attract staff, as well as investing more in developing and training existing staff.

Finance professionals, specifically, are in short supply, with 93 per cent of the chief financial officers surveyed for the Robert Half 2016 Salary Guide stating that they are finding it difficult to attract skilled, professional employees.

About 48 per cent of CFOs said the greatest difficulty was in finding people to fill niche roles in disciplines such as auditing, compliance and in private equity and asset management.

Salaries for audit staff are likely to rise across the board, with compliance managers expected to achieve a 5.5 per cent increase in wages to US$134,500 to $189,500, while internal auditors should get a pay increase of an average of 8.9 per cent to $65,250 to $81,750 next year.

HR staff will benefit from the increased focus on staff development and retention, with learning and development managers likely to receive pay increases of 7.6 per cent to $80,500 to $110,750, while the average salary for an HR director is set to climb by 4 per cent to between $171,000 and $265,250.

Gareth El Mettouri, an associate director for Robert Half UAE, said: “As the region continues to compete for skilled professionals both locally and internationally, ensuring star performers are receiving competitive remuneration helps businesses remain attractive to both existing staff as well as potential new recruits.”

Despite concerns about the impact of the oil price on the region’s economy, the trade credit insurance specialist Coface said at its Country Risks conference in Dubai that growth in the UAE is likely to remain steady in the near term.

It is forecasting GDP growth of 3.1 per cent for 2015, with the chief economist Julien Marcilly stating that the UAE has “greater fiscal buffers” than many of its neighbours to withstand declining hydrocarbon revenues.

“The UAE’s economy is one of the most diversified among the GCC countries. Hydrocarbon revenues account only for 25 per cent of GDP and 20 per cent of total export revenues,” he said.

mfahy@thenational.ae

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
If you go
Where to stay: Courtyard by Marriott Titusville Kennedy Space Centre has unparalleled views of the Indian River. Alligators can be spotted from hotel room balconies, as can several rocket launch sites. The hotel also boasts cool space-themed decor.

When to go: Florida is best experienced during the winter months, from November to May, before the humidity kicks in.

How to get there: Emirates currently flies from Dubai to Orlando five times a week.
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German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
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Source: Federal Office for the Protection of the Constitution

Other workplace saving schemes
  • The UAE government announced a retirement savings plan for private and free zone sector employees in 2023.
  • Dubai’s savings retirement scheme for foreign employees working in the emirate’s government and public sector came into effect in 2022.
  • National Bonds unveiled a Golden Pension Scheme in 2022 to help private-sector foreign employees with their financial planning.
  • In April 2021, Hayah Insurance unveiled a workplace savings plan to help UAE employees save for their retirement.
  • Lunate, an Abu Dhabi-based investment manager, has launched a fund that will allow UAE private companies to offer employees investment returns on end-of-service benefits.
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Wednesday: West Indies v Scotland
Thursday: UAE v Zimbabwe
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Sunday: Final

Water waste

In the UAE’s arid climate, small shrubs, bushes and flower beds usually require about six litres of water per square metre, daily. That increases to 12 litres per square metre a day for small trees, and 300 litres for palm trees.

Horticulturists suggest the best time for watering is before 8am or after 6pm, when water won't be dried up by the sun.

A global report published by the Water Resources Institute in August, ranked the UAE 10th out of 164 nations where water supplies are most stretched.

The Emirates is the world’s third largest per capita water consumer after the US and Canada.

Indoor cricket in a nutshell

Indoor Cricket World Cup - Sep 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side

8 There are eight players per team

There have been nine Indoor Cricket World Cups for men. Australia have won every one.

5 Five runs are deducted from the score when a wickets falls

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Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs

B Side nets, between the striker and halfway down the pitch: 1 run

Side nets between halfway and the bowlers end: 2 runs

Back net: 4 runs on the bounce, 6 runs on the full

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Directors: Avinash Arun, Prosit Roy 

Stars: Jaideep Ahlawat, Ishwak Singh, Lc Sekhose, Merenla Imsong

Rating: 4.5/5