Over a third of employees (36%) taking part in a salary survey in Kuwait said their loyalty to their company was, fully or in large measure, linked to the salary they received. On the other hand, 34 percent of respondents in the same survey said that loyalty to their company was not linked to the salary they received.
The Middle East and North Africa Salary Survey 2021, conducted recently by Bayt.com, the Middle East’s #1 job site, in partnership with YouGov, a leading market research agency, revealed a variety of other insights on employees’ perceptions of salaries and benefits.
Apart from salary, the nature of daily responsibilities (31%), opportunities for career advancement (26%) and colleagues (24%) were found to be important drivers of loyalty. In addition, when asked about their career plans in the next twelve months, 54 percent of respondents in Kuwait said they will look for a better job in the same industry, and 21 percent said they plan to look for a better job in a different industry.
The survey in Kuwait also revealed that only 27 percent of respondents claimed that their current salary package consists of basic salary and benefits, while 54 percent said that it consists of only basic salary. A further 19 percent said it consists of basic salary, benefits, and commission. Additionally, 41 percent of respondents said that their company pays for overtime.
When it came to the preferred pay structure, over half of the respondents (54%) prefer a 100 percent fixed pay structure, while 36 percent of respondents said they preferred a partially fixed pay structure with a variable pay for commissions and incentives.
Among the various benefits employees in Kuwait receive, personal medical insurance (27%), bonus (23%) and annual air ticket (21%) were found to be the top benefits. As for end of service benefits, 63 percent of respondents said their company presently offers end of service gratuity.
In terms of quality of life, three-quarters (75%) of respondents in Kuwait believe they are better off or about the same as other people of a similar generation in their country of residence. Additionally, more than 6 in 10 respondents (62%) manage to save a portion of their personal income and 44 percent of respondents repatriate up to 50 percent of their savings back to their home country.
Among those surveyed, 30 percent of Kuwait respondents have been working in their current industry for up to six years. When it came to specific employers, 61 percent of respondents have been working with their current employer for six years or less, with 25 percent having worked for their employer for less than three years.
Ola Haddad, Director of Human Resources at Bayt.com says: “The Bayt.com Salary Survey 2021 explores current income structure and levels, salary satisfaction, perception towards cost of living and expense allocation, providing an insight to the job market and the economy. Employers need to treat compensation as an integral part of an employee’s reward and monitor major factors driving the salary expectations.”
Zafar Shah, Research Director at YouGov said: “The Salary Survey illustrates the job market from employees’ perspective, helping candidates gauge their worth in the current job market, and promoting employers’ understanding in a way that best serves the business and employees. Smart employers will invest in opportunities for career advancement as well as training and development which are the most important drivers of loyalty besides salary.”
Data for the Middle East and North Africa Salary Survey 2021 was collected online from 3 to 15 March 2021. Results are based on a sample of 2,524 respondents from the following countries: Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Syria and Tunisia, and the United Arab Emirates.
SOURCE ; TIMES KUWAIT