(MENAFN- Tiger Recruitment ) • 69% of workers in the region expect a pay rise in 2023
• 37% are prepared to change jobs for the pay cheque they want
• Only 22% are inclined to stay in their current role for job security
Dubai, 14 February 2023 – Close to seven in ten (69%) employees in MENA are confident of a pay rise in 2023, even if it means moving jobs, according to Tiger Recruitment research. Despite global headwinds and rising inflation, MENA workers are more likely to look for a new job with better pay in 2023 than negotiate a raise with their current employer.
After a year of stagnant pay, 37% of workers in the region say they are ready to leave their job to secure the pay cheque they want, despite a fifth fearing their search might take longer than usual. Fewer (22%) feel inclined to stay in their role for security, while only 16% plan to negotiate a pay rise with their current employer.
Tiger’s data suggests this reluctance to ask for a raise could be because almost half (42%) of MENA workers already broached the subject with their boss in the past year, yet only 28% achieved a rise. Most workers say they last had a pay rise one to two years ago. Fifteen percent say it has been five years or more since their salary went up.
Commenting on the findings, Zahra Clark, Head of MENA for Tiger Recruitment, said, “The results of Tiger Recruitment’s research highlight a worrying trend in the MENA region. People’s earnings often fall short of their expectations. Employers will try to justify not increasing pay by highlighting the benefits they offer. However, we know that for jobseekers and employees, salary reigns supreme.”
Thirty-nine percent of MENA employees surveyed by Tiger say that salary was the number one factor that attracted them to their current job. And it will be even more decisive in the future, with three-quarters (73%) of respondents citing pay as a top priority in their next role.
Outlining the significance of the research for employers, Tiger’s Zahra Clark said, “Everything costs more these days – food, fuel, rent – and workers are feeling the pinch. People want and need to earn more and are motivated to move jobs if that’s what it takes. Our research findings are a wake-up call for employers. If companies are serious about retaining top talent, they must offer a fair and competitive compensation package that reflects their worth. If employers continue to bury their head in the sand over pay, they’ll struggle to keep the people they need.”
To help employers benchmark their current compensation package, Tiger Recruitment has published its 2023 Salary and Benefits Review, which is based on a survey of around 400 workers in MENA, its in-house data, and market experience. The annual publication can be ordered from the company website.
MENAFN14022023004919011359ID1105571955
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.