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Companies across the UAE are predicting an average salary increase of 5% in 2014 – a figure in line with forecasts made for 2013 and 2012, which were 5.1% and 5.2% respectively, indicating economic stability and a continued confidence in the country’s business environment amongst organizations in the UAE.
These are the latest figures from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc, released as part of its annual Global Salary Increase Survey 2013.
Based on data from a robust comparative group of over 500 organizations across the Middle East, including 180 in the UAE, the report offers a unique snapshot of salary increase trends which, in turn, enables organizations to benchmark their forecasts with the market in order to remain competitive.
When looking at the distribution of salary increases, we can see that there is a clear correlation between performance and salary increases.
Figures show that a 7.2% salary increase was given for those ‘far exceeding expectations’ compared to a 0.1% salary increase for employees that ‘did not meet expectations’.