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21 April 2024

50% of GCC employees to get single-digit hikes

By Shuchita Kapur

Breaking away from the previous optimistic surveys released by recruitment companies and consultants, a new release by Naukri Gulf, an online job portal, states that only 50 per cent of the recruiters in the region may be looking at giving away single digit pay hikes to their employees.

The survey reveals that most recruiters in the region are still cautious when it comes to human resources and expenses related with it. Due to the uncertain global economic scenario, many employers have revealed only a minor improvement in hiring sentiment when compared to July 2012 but still lower than what it was in the beginning of 2012.

The findings state that exactly half (50 per cent) of employers have predicted a single digit hike in salaries in 2013. On the other hand, 17 per cent recruiters have said that there will be no increments given out in their organisation.

On the hiring front, 68 per cent of the respondents believe that new jobs will be created this year. This is marginally better than July of last year when 64 per cent echoed the same sentiment.

Of the optimistic ones, 48 per cent believe that jobs will be available for those with 4 to 8 years of work experience whereas 40 per cent said that it will be for executives with 1-3 years of experience levels. What is worrisome is that 14 per cent of employers still believe a repeat of the dull days anticipating no hiring in the coming months and worse still 5 per cent have predicted that layoffs may happen in their organisation.

Riding on the wave of new project announcements, construction and retail is the most optimistic sector when it comes to job creation this year.