(MENAFN- Cachoeira) Amman, Jordan, December 2021 – Mercer’s 2021 Total Remuneration Survey (TRS) demonstrates the need for companies to readress their compensation and benefits strategies to attract and retain talent amid an increasingly competitive talent landscape, spurred by cautious optimism in of GDP growth for 2021 and 2022, signalling a post-COVID-19 pandemic rebound.
The 2021 Mercer Jordan TRS examined 139 companies and showed that the majority of employers intend to increase their headcount in 2022, with particularly strong demand for talent in the areas of e-commerce, marketing and sales.
As Jordan has increasingly established itself as the country of choice for international technology & e-commerce companies to establish back-end offices due to its established talent pool, the Survey shows signs of increased hiring activity in key skillsets that support such businesses where the pay for which is above market average. Moreover, due to the talent pool and cost of employing in Jordan, there are increasing new entrants to the markets, including Amazon which currently hires 1,220 people in the country with intentions to double the number in 2022. Amazon’s office establishment is a strong and positive indicator for the technology industries’ maturity level in Jordan, where many other technology companies have operations or were established in Jordan such as Autodesk, Mawdoo3,Tamatem, Jawaker, Little Thinking Minds, POSRocket, Revton and many others.
The TRS showed that skills within e-commerce, sales, marketing & product management are also increasingly in demand with salaries also outpacing the market. The compensation and benefits packages provided by employers are increasingly shifting to include short-term incentive programmes, such as sales target driven bonuses and performance bonus (for non-sales jobs) which is comes under the umbrella of linking pay to performance and aligning individual and company objectives.
Commenting on the findings of the survey, Mohammad AlQattan, Consultant at Mercer said: “Jordan has a rich talent pool, which is attracting more and more regional entities to establish support function and back-office requirements in the country. The increased intention to hire is bolstered by positive signs for a post-pandemic rebound across the region, particularly in key sectors that proved resilient during the pandemic such as Technology/ e-commerce, Life Sciences & Consumer Goods . Looking towards 2022, we see continued signs of optimism with positive salary markers and companies reporting the intention to continue to increase headcount.”
As for the annual salary increase across all industries for 2021 is on average 4% with Life Sciences leading the sector-specific increase at 4.8%. Industries including high-tech and consumer goods are expect to maintain pace with the average increase of 4% as a result of resilient performances, even during the pandemic.
When looking to 2022, there are clear signs of economic optimism with TRS respondents suggesting that we see an annual increase aligned to pre-pandemic levels with all industries expected to average a 4.5% forecasted increase. For 2022, the Life Sciences industry is expected to outpace the market with a 4.8% forecasted increase whereas High-Tech (Technology, E-commerce & Telecom) with a 4.4% forecasted increase, and consumer goods at the 4% forecasted increase.
Across the globe, we have seen employers swiftly adopt remote or hybrid working schedules to combat the COVID-19 pandemic, and many are continuing to offer this as we move into the post-pandemic recovery phase and Jordan is no different. Many employers are continuing to offer flexible terms with minimum days in office per week in order to incentivize staff.
MENAFN06122021005063011561ID1103313260
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.