Mercer International expects wages in the UAE to rise faster than the inflation rate in 2024. It is expected to grow Wages in the Emirates Faster than the cost of living in 2024.
Mercer, a global human capital consulting firm, expects an average wage increase of 4.1%, which exceeds the inflation rate of 2.3%.
Wage increases in the UAE
A survey conducted by…Mercer Middle East For the total wages in the Emirates for the current year, there will be an increase in the salaries of employees in energy companies by 4.3% in 2024.
Employees at consumer goods companies are expected to receive a pay increase of 4.1% on average, while life sciences and technology companies plan to increase salaries by about 4%.
This is in line with other forecasts, as GCC human resources consultancy Copper Fitch expects salaries to jump 4.5% year-on-year this year, as the non-oil sector continues to strengthen and OPEC+ oil production increases.
Recruitment plans in UAE companies
Mercer data also shows that 16.3% of UAE companies intend to grow their workforce, while 7.8% of them plan to reduce their workforce in 2024.
It expects about 3.8% of Companies in the Emirates An increase in the turnover rate of its employees in 2024, while 11.4% of them expect to retain their employees.
Andrew Al Zein, Mercer’s director of careers for the Middle East and North Africa, said that UAE companies face intense competition to attract skilled workers locally and regionally.
