More than the average for the Persian Gulf. The report tracks wage growth in Saudi Arabia.

The first annual report of the countries of the Gulf Cooperation Council for 2022 showed that in 2033, 88.1% of Saudi enterprises provided employees with an annual increase, while the average for the Gulf countries was 84.6%.

The results of the report showed that Saudi Arabia was the highest country in the Gulf Cooperation Council for the provision of compensation and benefits, and was also the largest investment in technology systems during the past 2022, and Saudi Arabia’s facilities were the highest in terms of increase in the Gulf countries. which ranged from 6% to 10%, and were more than 1 ft. Annual bonuses for their employees at 83.1%, much higher than the GCC average of 62.7%.

The results of the report showed that 86.4% of Saudi establishments will either promote or reward their employees in the current 2023, which is the highest among the Gulf countries, as 52.5% of Saudi establishments intend to simultaneously provide allowances and bonuses. to their employees.

55.9% of Saudi businesses plan to upgrade and change job grades and pay scales, although Saudi Arabia recorded the lowest inflation rate of 2.2% compared to the rest of the GCC.

In terms of in-kind benefits, Saudi institutions were the second largest after the UAE at 93.2%, and most of these benefits were based on health insurance and flexible working hours. Labor law makes up 27.3%, despite the fact that it was not initially presented as an advantage.

The report released by Procapita Management Consulting is based on the results of its annual survey of business executives and HR professionals in various sectors in the GCC countries.

Source: earlier