UAE: More companies offering bonuses as ‘key tool’ to retain talent

  • Date: 23-May-2024
  • Source: Khaleej Times
  • Sector:Real Estate
  • Country:UAE
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UAE: More companies offering bonuses as ‘key tool’ to retain talent

Published: Thu 23 May 2024, 6:00 AM Last updated: Thu 23 May 2024, 8:17 AM

Several companies in the UAE are willing to shell out bonuses to attract and retain talent, according to recruitment experts in the country.

“Employers in the country and the region are increasingly using bonuses as a key tool to attract talent with some statistics suggesting up to a 35 per cent increase this year over 2022,” said Aparna Navin from Holcim Group.

The comments come a week after Emirates announced a whopping 20 weeks’ worth of bonus to its employees on the back on record-breaking results. Earlier in the year, another airline FlyDubai had also offered its workers a bonus of 22 weeks’ worth of pay.

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Some say that bonuses are becoming more common. “Bonus structures of all kinds are becoming more commonplace and not just for the C-Suite roles,” said Tiago Costa, CEO of Parisima Talent. “Companies want to retain their best talent, and bonuses and long-term incentives – such as clear career development pathways into senior roles and family support such as education allowances – are at the forefront of recruitment related discussions about benefits.”