Monday, 8 December 2014

Salaries is to be increased by 5.4% in 2015 in KSA

Every day and every year the Earth begins to grow and expand its horizons onto levels that at a time the human mind could only comprehend. In this era of development everything seems so smooth and balanced that we are here to make everything more and better. We think of ways to make sure that our lives are luxurious and easy to live without any thought of the consequences. We bring out a future in our present that can prove to be fruitful for our lives today. Everything now seems to fall right into shape. Similarly with the countries producing their annual budgets the Companies across Saudi Arabia are predicting an average salary increase of 5.4 percent in 2015 according to the latest figures from Aon Hewitt, the global talent, retirement and health solutions business of Aon plc.

However if compared to the annual salary increase of 5.2% in 2014 some workers are not happy with this estimation given by Aon Hewitt from the global talent retirement and health solutions business of Aon plc. Another important thing to take interest is the estimation stimulated by the Capital Economics department that inflation within the state has been steady and will be nearly around 3.5 to 4% which is slightly lower than the years before. The salaries are estimated about after having several meetings and holdings with the five hundred countries in the Middle East out of which seventy three are situated in Saudi Arabia. The Global Annual Salary Increase Survey of 2014 handles all such of these particular estimations.

These meetings become the basis to provide such companies as to what their budgets and annual salaries should be according to the general outcome of the state’s salaries. This way the markets and companies remain in competition which one another. Aon Hewitt mentioned that the companies HR forwards in their final estimations for salaries. We decide what and how much exactly have to be paid to the employees.

Their decision is what is put in their records which have to be in line with the estimation provided by the companies. He had also stated that this year the rates were well in line which made their job more and more easy. It has been provided that the lowest Salary increase was given in by Bahrain 4.5% followed by the United Arab Emirates at 4.8% which was pretty ironic for me to observe since I expected that United Arab Emirates will be providing their workforce with a better increase in salaries however that didn’t turn out to be the case at all.

With this my general conclusion would be to make sure that if you have any higher plans for the year of 2015 whether you may be in Saudi Arabia or any other state around the world it’s best to be on the safe side and make sure all your bills and loans are coinciding with your respective salaries. Also make sure that you ask your company’s management effectively how much salary you’ll be receiving. Saudi’s are in for a treat just make sure that you know where the lines at!
Source: Arab News

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