UAE salaries likely to rise by 4.4% in 2023

 


Employers in the UAE plan to increase salaries by an average of 4.4 per cent in 2023 and are considering benefits such as retention bonuses in an effort to retain employees and attract talent amid a tight labour market, according to a report by global advisory company WTW.

Companies are currently revising budgets for salary increases next year, with 35 per cent of those surveyed citing a higher wage budget than previously projected and 38 per cent saying they are reviewing salaries more often now.

Compensation packages are also under review, with companies planning to offer benefits including one-off cash payments such as a retention bonus or lump-sum payment, a higher base salary increase for all employees or more frequent salary increase adjustments, it added.


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