Forgot your password?



Back to login

Most GCC employees to face pay rise upset in 2015
February 18, 2015, 9:05 am
Share/Bookmark

Many GCC employees may be disappointed with the level of pay rises awarded in 2015 as staff expectations are not generally matched by employers, according to a new survey.

According to The Hays GCC 2015 Salary & Employment Report, the majority of businesses expect to increase salaries by a maximum of 5 percent but staff believe their monthly salaries will jump by over 10 percent this year.

The difference in expectations between employers and their workforce could motivate employees to look elsewhere for opportunities, Hay Group said.

The report surveyed over 2,000 working professionals and more than 200 hiring managers in the GCC, and found that 79 percent of employees are expecting their salaries to increase by a minimum of 5 percent, a fact which is only mirrored by 35 percent of employers.

"This difference between employee and employer salary expectations coupled with the increased number of vacancies we've seen, will create a market driven by job seekers" said Chris Greaves, managing director of Hays UAE.

"As the economy in the Middle East continues to strengthen, professionals are more confident about changing jobs in order to realise their salary expectations. In 2015 this means that businesses are at real risk of losing key staff members".

The report found that 78 percent of surveyed employees will consider looking for a new role in 2015, and with high salary being the main motivator to accepting a job offer, companies will soon need to address salary expectations of their workforce.

It also found the recruitment market in the GCC to be optimistic. Seventy-six percent of surveyed hiring managers said they expect to increase the headcount of their organisation in 2015.

But with the emerging struggle between salary expectations, employers' positive outlook could be disrupted, Hay said.

"A larger salary shouldn't be the primary driving factor in seeking new employment but there's no doubt that it plays a part in securing the interest of a new hire" said Greaves when offering advice to employers.

"The message in here is that employers need to be particularly mindful of the financial welfare and career development of their key staff in 2015 or risk losing them."

Share your views
CAPTCHA
 

"It is hard to fail, but it is worse never to have tried to succeed."

"Envy comes from wanting something that isn't yours. But grief comes from losing something you've already had."

Photo Gallery