Saudi salaries forecast to increase as economy recovers from pandemic

Saudi salaries forecast to increase as economy recovers from pandemic

The 2021 Saudi Arabia Salary & Employment report released on Monday was based on a survey of about 600 Saudi employers and employees in late 2020. Despite the coronavirus (COVID-19) pandemic's negative impact on salaries last year, 39 percent of surveyed employees said they received a pay increase, while only 9 percent said their salary was reduced, compared with 4 percent in 2019. The report forecast that most salaries will remain the same, but Saudi employees were more optimistic, with 56 percent of respondents saying they expect an increase, 41 anticipating no change and just 3 percent believing they will get a pay cut. The survey found that 53 percent of employers anticipate they will award pay raises to staff, with most increasing earnings by up to 5 percent. Chris Greaves, managing director of Hays in the Middle East, said that salary offerings have always been fundamental to attracting workers to the Kingdom. He said that there was likely to be more movement of employees in the labor market this year, due to the upcoming Iqama reforms, which allow expat employees working in private sector to freely change jobs without the employer's consent. As a result, more expats will be