A study announced by Cooper Fitch revealed that salaries in the United Arab Emirates will rise during 2022, with a return to almost full bonus.
Cooper Fitch said, in a study entitled "The UAE Salary Guide 2022", that the UAE has sufficient flexibility and was able to overcome the challenges that occurred in 2020.
The study stated that 2022 is the year of continuous growth, and the Dubai Expo will have a continuous impact during the next year, as its activities will continue during the first quarter of the year. The study suggested that the launch of the FIFA World Cup in Qatar would contribute to achieving significant growth for the UAE, given that Dubai is a major hub for tourism and business transit. He explained 30% of the institutions surveyed across the Emirates confirmed that they made reductions in the number of their employees in 2021.
52% of the participants reported that they did not make any changes to the number of their employees this year, while 18% implemented increases in the number of employees. The study expected that 23% of organizations will reduce the number of their employees in 2022, while 59% will increase the number of their employees by up to 10% or more. These results, which have come with the participation of more than 600 institutions across the Emirates, reflect the constantly changing skills requirements in the UAE.
Regarding reward programs, 63% of the institutions participating in the survey stated that they paid rewards within their organization during 2021. The data showed a significant increase in bonus payments from 2020 with a 19% increase from last year, 44% of study respondents said.
And whether companies plan to pay bonus programs for 2022, 74% said they will pay bonuses, as 46% will pay a bonus in the amount of one to two months of the value of the total salary. 21% indicated that they will pay a bonus of 3 to 5 months during the current year 2022, and only 26% of those who responded said that they will not pay bonuses next year. The study confirmed that 2022 is a return to almost full reward, with exceptions for distressed organizations.