Living costs outpacing pay rises key reason for UAE job switches

MOST EMPLOYERS HAVE LIMITED RAISES TO AROUND 4%, SAYS NEW STUDY

- BY MANOJ NAIR

The cost of living - especially those related to rents and education expenses - are now the main reason why employees in the UAE are switching jobs, according to new data from placement consultancy Korn Ferry Digital.

While UAE employers have sought to compensate through salary increases, the majority of organisations have only provided hikes of around 4 per cent. However, these hikes fall short of covering the escalating costs individuals face. For instance, rents alone have surged by 15 to 20 per cent over the past two or three years, significantly impacting salaried professionals.

And you have two out of every three employees saying that rising cost of living is outpacing their salary gains, according to Korn Ferry.

Not enough