UAE firms turn to performance based pay hikes
Pull up your sleeves if you want a pay hike – this is the new mantra of the corporates in the UAE.
According to a survey, the UAE corporates are turning to performance-based increments and bonuses as part of their New Year resolutions.
Regus, the global workplace solutions provider, commissioned research found that in the UAE, the top resolutions were to reduce operating overheads, add new staff, invest working capital and introduce more performance related pay - broadly consistent with the global picture.
Set against an overall bullish business outlook, high-performing staff can look forward to enhanced earnings in the New Year; but business sees no room for complacent workers as economic recovery takes hold.
Mark Dixon, Chief Executive of Regus, said: "Business attitudes for 2011 show a gritty determination to go for growth and ride the wave of global economic development, but tolerance for any kind of 'jobsworth' attitude is in freefall. Staff, especially in small-to-medium sized enterprises, will all have to make a measurable contribution to revenue growth and will, at least in part, be rewarded accordingly. The research clearly shows that performance-related pay is becoming the standard in global businesses."
He said: "This research underlines how the business community is increasingly aligning pay with measurable results. This trend is not expected to be limited to sales teams but will extend to people working in production, customer service or administrative jobs. Intelligent measures are being formulated and introduced - often related to overall company performance - to make sure that employees are suitably incentivised. So long as the measurement systems are fair, employees tend to be enthusiastic about their introduction."
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