Dubai: Employees in the UAE will receive modest or no increases in their salaries and bonus payouts next year as companies are getting cautious about spending more money on staff wages amid the economic slowdown.
According to a report released on Tuesday, around 15 to 20 per cent of companies in the Gulf Cooperation Council (GCC) region are likely to impose a freeze on wage adjustments, while workers in the UAE are set to receive the lowest increase in real earnings.
A forecast issued by Korn Ferry, an organizational advisory firm, however, showed that workers around the world will see real income growing faster at 2.5 per cent, the highest in three years.
Growth in real earnings in GCC countries will average 2.3 per cent. The highest will be in Oman, at 3.1 per cent, followed by Qatar (2.9 per cent), Bahrain (2.7 per cent), Saudi Arabia (2.6 per cent) and Kuwait (1.6 per cent)… see more