If you received a pay hike last year, you are among the lucky few.
According to a new survey by the recruitment firm Hays, nearly 60 per cent of employees in the GCC didn’t get a salary increase in 2019, as employers became more selective with their handouts.
Around four in ten people did get a hike of up to 5 per cent, which is slightly lower than the 5 to 10 per cent increase seen in the previous year.
Individual performance and a new job with a new company were the top factors driving pay rises.
The report found the most significant pay increases (those over 15 per cent) were awarded to professionals within the accounting & finance, and technology sectors.
At the other end of the spectrum, there were half as many pay cuts experienced in 2019 than in 2018.
Hays surveyed more than 6,800 employers and employees across the Gulf region asking questions about salaries and employment experiences in 2019, as well as their expectations for 2020.
In line with directives from His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai and Chairman of the Dubai Media Council, to strengthen Dubai’s position as a global hub for media innovation, the Dubai Media Council met with TikTok to explore new partnership opportunities focused on media advancement and knowledge exchange.
The UAE Ministry of Human Resources and Emiratisation (MoHRE) has called on private sector companies with 20 to 49 employees to expedite the hiring of at least one Emirati by the end of 2024.
The UAE's economic growth is projected to lead the GCC in 2025, primarily driven by the non-oil sector, according to the Director of the Middle East and Central Asia Department at the IMF, Dr. Jihad Azour.
The final bidding process for the privatisation of Pakistan International Airlines attracted just one bid of 10 billion Pakistani rupees ($36 million) for a 60% stake in the national flag carrier, the Privatisation Ministry said on Thursday.