Two-thirds of professionals in the UAE responding to a survey that they will actively be seeking work in the first half (H1) of this year, said Robert Walters Group, a leading provider of recruitment consultancy, in a new report.
Fifty-nine per cent of professionals were ‘very confident’ about job opportunities in their sector following optimistic news from the UAE Central Bank that the economy will grow by 4.2% this year, according to the findings in the Robert Walters 2022 Salary Guide.
However, a large majority of white-collar workers in the UAE have in fact held on to their jobs in anticipation of their New Year bonus & pay rise and will continue to be market curious throughout 2022, the report said.
Movement in the market will peak at the end of February, following January appraisals, where some workers will feel that they have not been duly rewarded for their loyalty and hard work during the pandemic, it added.
The survey - of 3,000 white-collar workers - found that almost three-quarters of professionals (72%) were expecting a pay rise at the beginning of this year, whereas a Robert Walters poll of 500 UAE companies reveals that less than a third of employers (28%) had planned to make any changes to existing remuneration packages.
Many existing employees have had to sit back in the past 18 months and watch new starter salaries rise at a faster rate than their own pay – with the wage for new hires increasing by 6-8%, and as high as 15-20% for ‘hero’ industries such as tech or healthcare.
The distinct difference between employees’ expectations compared to what their current employer is willing to pay – dubbed The Great Pay Divide – could result in job movement peaking this month and carrying on into March.
Jason Grundy – Managing Director of Robert Walters Middle East & Africa said: “Many companies decided on their 2022 raises a few months ago before we had a clear picture of how competitive and candidate short the market was going to be.”
“Any companies who did not adequately reward their staff at the beginning of this year have potentially put themselves at risk of losing some of their best assets – and consequently will find themselves in a bidding war for their own employees as the market continues to heat up.
“If pay increases are not on the agenda then it is crucial that managers check-in with their team to get an idea of career plans and how they as an employer can assist,” Grundy added.
In spite of the rise in flexible & hybrid working, salary increases and bonuses remain the main motivators for retaining employees within a business. In fact, two-thirds (64%) of professionals have stated that they would leave their job if they are not offered a pay rise in 2022.
“The real sweet spot for companies is professionals with 5+ years experience, wherein some sectors such as legal and finance professionals are achieving 20-30% pay increases when moving roles. In technology, the pay rises are even higher, sometimes up to 50% for those with software development or cyber security experience,” Grundy concluded. – TradeArabia News Service
Most professionals in UAE ‘looking to move job in H1’
Jason Grundy
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