Despite the slump in oil prices, salaries in the United Arab Emirates and other countries in the Middle East are expected to rise, a report said Thursday.
A report on Arab News said that compensation and rewards experts forecast UAE pay hikes could be at 4.6 percent, and salary increases in other countries in the region could even beat UAE's.
Citing latest research on compensation and rewards, the Arab News report said that experts see higher salary as a driver in employee performance. Thus employers have now trained their focus on rewarding workers as a factor in an organization's success.
The report quoted Laurent Leclère, senior consultant and data services lead for the Middle East at Willis Towers Watson, as saying that "effective use of the company’s salary budget should be high on reward professionals’ agenda."
Willis Towers Watson’s General Industry Compensation Survey Report noted that a 4.6 per cent salary increase is also expected in Bahrain, adding that Lebanon will most likely enjoy the highest growth at 5.4 per cent, followed by Saudi Arabia and Kuwait (5 per cent) and Qatar (4.8 per cent), the report said. — LBG, GMA News