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More Than Half of UAE Employers Expect to Raise Salaries in 2024

A recent report from Cooper Fitch finds that more than one-fifth of employers expect to reduce pay and more than a quarter have no plans to change salaries in the coming year.

By Maggie Mancini

Salaries in the United Arab Emirates are expected to rise by 4.5% in 2024, according to a report released by Cooper Fitch. Most firms in the UAE are expecting to raise salaries throughout the year, with more than one-third expecting to raise salaries by more than 5%.  

More than one-fifth, 21%, expect to lower salaries in 2024, and more than a quarter have no plans to change salaries in the coming year. Cooper Fitch surveyed business leaders from more than 1,000 organisations to compile data in the report.  

According to the report, more than half of respondents said they raised salaries in 2023, with around 8% of organisations raising salaries by 10% to retain top talent.  

The report also finds that 59% of organisations made changes to headcount in 2023, with 26% expecting a 0% to 5% increase by the end 2024. More than half (56%) of this year’s respondents expect their teams to grow in 2024, whereas 20% are expecting to reduce their headcount.  

When asked whether they believe there is enough available talent in the UAE to meet hiring requirements in 2024, more than a quarter of respondents (27%) said there was not. Management and leadership were the most significant talent gaps identified, accounting for 16% and 14% of responses, respectively.  

Tags: EMEA January 2024, EMEA News

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