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Local firms narrow compensation gap with MNCs
DUBAI - Short term incentives are becoming a more important component of total compensation for both local and multinational companies (MNCs) in the UAE, according to the second annual Total Remuneration Survey for the UAE from Mercer Human Resource Consulting.
"While results continue to show considerable differences between compensation in local and multinational organisations, and across industries, the gap is narrowing," said Aman Merchant, chief executive officer of Paradigmz, Mercer's exclusive strategic alliance partner in the region.
"Detailed compensation information is an important tool for companies to make critical compensation decisions in increasingly competitive markets."
"The 30 per cent increase in participating companies over last year is a testament to the contribution the survey process, data and tools make to organisations committed to attracting and retaining key people."
Results from the 2004 survey were unveiled last week to senior human resource professionals and government officials at Knowledge Village, Dubai.
Data for Mercer's Total Remuneration Survey was collected from 8200 jobs, in 61 leading governmental, private and multinational organisations across the UAE.
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