More than half of the Gulf's workers did not receive a pay rise last year.
Wages are expected to increase by an average of 6.3 per cent in the UAE this year, a new survey forecasts.
Just 45 per cent of the 32,000 people surveyed by GulfTalent.com said they received pay rises last year. Workers in Qatar and Saudi Arabia had the highest average salary increases, at 6.8 per cent and 6.7 per cent, respectively. The UAE and Bahrain had the lowest average increases, at 6.4 per cent and 5.7 per cent, respectively.
Recruitment companies say that while the wave of lay-offs that hit the region in the aftermath of the global financial crisis had slowed, companies were still restructuring and holding back on spending more on staff.
"Generally, things are still slow," said Charles Willson, a partner at the executive recruiter Willson McArthur in Dubai. "People aren't getting raises, except for in specific markets such as banking."
Mr Willson said that was primarily due to bumper earnings in the fourth quarter last year at lenders such as National Bank of Abu Dhabi, where profits rose by 71 per cent compared with the same quarter in 2009.
"Bankers are getting pay rises," he said. "Beyond that, the situation is that there are still too many companies out there, ad agencies, construction companies, everything. Once we see more consolidation, then wages will pick up."
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Editor's Pick - Egypt's loss is Dubai's tourism gain
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The survey found that while 61 per cent of the 1,400 companies interviewed in the survey expected to hire this year, 9 per cent said they would lay off staff.
GulfTalent.com said the pay increases across the region last year broadly tracked inflation but were just a fraction of the double-digit rises seen during the peak of the economic boom in 2008.
The retail sector saw the greatest increase in the Gulf, at an average of 6.4 per cent, while education saw the lowest at 3.8 per cent. Employees in the human resources (HR) departments of companies had the biggest raises at 7.1 per cent, while lawyers had the lowest at 4.3 per cent.
"Many executives told GulfTalent.com that with their companies increasingly focused on performance, the HR function had assumed a much greater significance," the survey said.
As Asian professionals saw more job opportunities in their home countries, they were able to negotiate the largest pay rises, at an average of 6.1 per cent. Westerners, whose home countries are still mired in downturns, saw an average increase of just 3.2 per cent.
And as more Chinese companies enter the Gulf to take part in major infrastructure and construction projects, there is greater demand for labour from China. GulfTalent.com said there was a "small but fast-rising Chinese presence".
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Qatar was a clear winner in the region's labour market, with "fast-rising salaries, falling costs of living, growing employment opportunities and an improving international brand" after the country's selection to be host of the 2022 Fifa World Cup.
In an analysis of vacancies advertised by employers and recruitment agencies on its website, GulfTalent.com said job opportunities in Qatar had grown to 16 per cent of all Gulf job vacancies last year from 8 per cent in 2008.
The UAE remained the most attractive place to work, however. About 72 per cent of residents prefer to remain in the UAE rather than relocate elsewhere in the region.
About 5 per cent of people living in Dubai commute to work in Abu Dhabi now, a fivefold increase on 2008.
bhope@thenational.ae
MATCH INFO
Rugby World Cup (all times UAE)
Third-place play-off: New Zealand v Wales, Friday, 1pm
Final: England v South Africa, Saturday, 1pm
'Moonshot'
Director: Chris Winterbauer
Stars: Lana Condor and Cole Sprouse
Rating: 3/5
Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
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Company%20Profile
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Nayanthara: Beyond The Fairy Tale
Starring: Nayanthara, Vignesh Shivan, Radhika Sarathkumar, Nagarjuna Akkineni
Director: Amith Krishnan
Rating: 3.5/5
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
Disclaimer
Director: Alfonso Cuaron
Stars: Cate Blanchett, Kevin Kline, Lesley Manville
Rating: 4/5
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
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
The specs
Engine: 1.5-litre turbo
Power: 181hp
Torque: 230Nm
Transmission: 6-speed automatic
Starting price: Dh79,000
On sale: Now
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY%20PROFILE
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Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Company%20Profile
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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COMPANY%20PROFILE
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UAE currency: the story behind the money in your pockets
In numbers
Number of Chinese tourists coming to UAE in 2017 was... 1.3m
Alibaba’s new ‘Tech Town’ in Dubai is worth... $600m
China’s investment in the MIddle East in 2016 was... $29.5bn
The world’s most valuable start-up in 2018, TikTok, is valued at... $75bn
Boost to the UAE economy of 5G connectivity will be... $269bn
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
The specs
Engine: 3-litre twin-turbo V6
Power: 400hp
Torque: 475Nm
Transmission: 9-speed automatic
Price: From Dh215,900
On sale: Now
The biog
Favourite book: You Are the Placebo – Making your mind matter, by Dr Joe Dispenza
Hobby: Running and watching Welsh rugby
Travel destination: Cyprus in the summer
Life goals: To be an aspirational and passionate University educator, enjoy life, be healthy and be the best dad possible.
The National Archives, Abu Dhabi
Founded over 50 years ago, the National Archives collects valuable historical material relating to the UAE, and is the oldest and richest archive relating to the Arabian Gulf.
Much of the material can be viewed on line at the Arabian Gulf Digital Archive - https://www.agda.ae/en