MUSCAT -- Aon Hewitt, the global human resources business of Aon plc, has revealed salary stability across the GCC for 2012. Data from the winter update of Aon Hewitt's annual Middle East Salary Increase Survey -- based on participation from almost 120 companies across the GCC -- has confirmed that the average salary increase across all sectors in the GCC in 2012 was consistent with levels predicted by participating organisations during 2011.
On average, the organisations surveyed in the GCC both predicted and subsequently reported an average increase of 5.4 per cent in salaries at the close of 2012. The winter update of the Salary Increase Survey also gives organisations an opportunity to reforecast their salary increases for 2013, having last made their estimates in the middle of 2012.
Companies surveyed in the GCC forecast an average salary increase of 5.4 per cent during 2013 -- no change from 2012, indicating an underlining stability in the market with relatively consistent rates of increase and overall growth in salaries year-on-year. Martin McGuigan, Head of Reward Consulting at Aon Hewitt Middle East, commented on the latest results: "The Aon Hewitt Middle East Salary Increase Survey provides a valuable snapshot of overall trends in salary increases in the GCC and enables organisations to benchmark their forecasts with the market in order to remain competitive."
"Across the GCC, we are seeing a growing trend towards performance-based pay, and this appears to be coming more prevalent as the market continues to mature, giving organisations a means of capping their pay budget in accordance with business performance. "Indeed, Aon Hewitt has seen an increase in demand for such information from a number of core industry verticals -- including public sector, healthcare and media -- and, as a result, we will soon be launching a series of new data surveys to give businesses better insight into salary levels within their specific sector."
The report also reveals that no GCC firms were planning a hiring freeze and that 41 per cent of organisations surveyed across the GCC are looking to increase recruitment this year compared to 2012.
Aon Hewitt has been conducting its annual landmark salary survey across the globe for 36 years; launching it in the Middle East for the first time in 2009.
The survey was conducted during 2012 in seven regional countries: Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. The survey is part of Aon Hewitt's suite of evidence-based, research-led studies including Qudurat, Best Employers Middle East (BEME), Total Compensation Measurement (TCM) and People Risk Index (PRI).
© Oman Daily Observer 2013
