A new study showed that the automotive and trade business has set the record of witnessing the steep rise in the salaries this year.
Wages all over the UAE grew by 4% this year so far, but it is a bit less than what was expected. The expected percentage was 5. This information was showed in the recent survey held by the Hay group. This outcome was driven by a poll which demonstrated 693 firms and 434 workers.
The expenditure of the workers grew by only 1%, although the rise in the salaries was noticeable. The research is credited for this rise. The remarkable reduction of petrol prices and an increase in the rents prompted inflation to grow by another 3%.
In the meantime, the salaries of senior authorities increased by 3% to 8% this year. Now this level will face some serious talent competition.
The growths of the wages of the automotive and the trade field stands out from the other fields. In the automotive field the rise was 6.4% and in the latter, the growth was 6.6%.
Harish Bhatia, the area manager of Hay group said that these two sectors generally have a lower pay rate than others. A typical earning in such fields are 15% to 18% less than the other fields’ pay grade.
He adds that the other fields are catching up as search for talent has increased in organizations in thick-paying fields, for instance, the petrol and fuel of economic services caused more strict rises for the unstable financial situation of the world. The wages in the Emirate are still to be effected from the eruptive petrol markets and prolonging world rise. Firms are retailing with attention, and we doubt a stricter attitude to both normal expenditures and investment projects in both governmental firms and private organizations in the coming future.
Around 90% of the factories paid bonuses in 2015, which is generally high by world standards and could be explained as a good sign for the nation’s finance.
The drop in the crude costs and a prolonging attitude are responsible for the prediction of rising wages, and the Emirate continues to remain hopeful. Although there is a probability of and finance slump.
A recent research of HRPC (human resources professionals by consultancy) conducted by R. Half pointed out that half of the survey expected to experience a rise of at least 5% in wages within the second half of 2015.
The specialists have cautioned that an abrupt drop in the oil cost could moist the chance of larger balance cheques.