UAE Job Market– The stark difference between an employee’s expectations and their current pay may lead to the Great Resignation
Recruitment firm Robert Walters says that movement in the job market will peak at the end of this month, as the UAE’s ‘Great Resignation’ is yet to come.
The survey of 3,000 white-collar workers found that almost three-quarters of professionals (72%) expected a pay rise at the beginning of this year. However, a Robert Walters poll of 500 UAE-based companies reveals that less than a third of employers (28%) had planned to make any changes to existing remuneration packages.
The stark difference between an employee’s expectations and their current pay is dubbed the Great Pay Divide. This could lead to the Great Resignation taking place all through March.
Two-thirds of professionals have stated that they will actively be seeking work in the first half of this year. More than half of those surveyed are ‘very confident’ of job opportunities in their sector.
Jason Grundy, Managing Director of Robert Walters Middle East & Africa, says, “If pay increases are not on the agenda, then managers must check in with their team to get an idea of career plans and how they as an employer can assist.”
According to the Robert Walters 2022 Salary Guide, most white-collar professionals have held on to their jobs, waiting for the new year appraisals to kick in.
Off late, professionals with 15-20 years of experience have witnessed starter salaries grow faster than theirs as the survey says that wages for new hires are increasing by 6-8 percent in the last 18 months.
Hopping jobs in ‘hero’ industries like tech and healthcare can boost one’s salary by up to 20 percent!
“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 added.
Source: Khaleej Times