Team Blitz India
Nearly 80 per cent of employers in the UAE plan to increase employees’ salaries in 2024, reflecting a buoyant job market, competitive talent landscape, and an overall optimistic economic outlook of the regional economy, according to a new survey.
The survey released by Hays Middle East on February 21, found that nearly 7 out of 10 – 69 per cent – of employers in the UAE plan to increase their headcount in 2024 as a majority – 58 per cent – of them feel optimistic about the UAE economic outlook for this year.
Interestingly, nearly half – 49 per cent – of companies in the UAE offer no remote or hybrid options to their employees, according to Hays GCC Salary Guide 2024. In the past two years, the UAE market saw a massive increase in new job creation as the economy expanded at an exponential pace after the pandemic. However, there was a strong inflow of foreign workers as well into the UAE, which helped to meet the needs of employers looking to expand their workforce.
Oliver Kowalski, managing director, Hays Middle East, said, “67 per cent of employers GCC wanting to grow their organisation’s headcount this year shows that there is still great demand for qualified personnel.
“Employee expectations are also clear, they want to be adequately remunerated, which is why 75 per cent expect salary increases in 2024. The labour market is showing signs of great dynamism, with 31 per cent of skilled workers actively preparing to change organisations this year,” he said.
More than 2,300 professionals and employers from the UAE and Saudi Arabia region took part in the survey. “2024 is shaping up to be another exciting year! The transformation of the economy is continuing at pace, as is the pursuit of the government’s long-term goals,” said Kowalski.
