According to a poll by recruiting firm Robert Walters, over two-thirds of professionals in the UAE would actively hunt for new employment in the first half of this year as business confidence and hiring activity return to pre-pandemic levels.
According to the survey, which interviewed 3,000 white-collar professionals from December 2021 to January this year, 59% of UAE workers are “extremely confident” about employment chances in their field.
According to Robert Walters, the UAE’s white-collar workforce has hung on to positions in expectation of a New Year bonus and salary raise, and will remain “market inquisitive” throughout 2022.
“Many firms made their 2022 increase decisions a few months ago before we had a clear idea of how competitive and candidate-short the market would be,” said Jason Grundy, managing director of Robert Walters Middle East and Africa.
“Companies that did not sufficiently compensate their employees at the start of this year may have put themselves at risk of losing some of their greatest assets — and, if the market continues to heat up, may find themselves in a bidding war for their own personnel.”
On the basis of the government’s fiscal and monetary policies, the UAE’s jobs market, the second-largest Arab economy, has rebounded significantly from the pandemic-induced slump.
According to a poll conducted last week by employment portal Bayt.com and market research firm YouGov, almost 76% of UAE firms want to grow their personnel in 2022.
According to Robert Walters, the biggest incentives for keeping employees inside a company are salary increases and bonuses.
According to the study, almost 72% of UAE professionals expect a salary raise in the first half of this year, with 64% of those asked stating they will leave their positions if they are not granted a raise by 2022.
After January assessments, movement in the UAE employment market is expected to peak around the end of February, according to the business.
According to the report, new recruit salaries have climbed at a quicker rate than current employee salaries during the last 18 months.
In fields like technology and health care, new workers’ salary grew by 6% to 8%, and in certain cases by up to 20%, according to Robert Walters.
“If compensation raises aren’t on the table, managers should check in with their employees to learn about their career goals and how they can help as an employer,” Mr Grundy added.
According to a second Robert Walters study of 500 UAE enterprises, over 28% of employers expected to make modifications to existing pay packages.
“The true sweet spot for firms is experts with more than five years [of] experience,” Mr Grundy said, adding that “those in industries like legal and finance are obtaining 20% to 30% pay rises when changing positions.”
“In technology, compensation increases can be as high as 50% for people with experience in software development or cyber security.”