Salary, Compensation and Benefit Surveys
Salary Surveys with Top Headhunters in Dubai
What are Salary Surveys?
Compensation Surveys are tools used to determine the median or average compensation paid to employees in one or more jobs. Compensation data, collected from several employers, is analyzed to develop an understanding of the amount of compensation paid. Surveys may focus on one or more job titles, employees residing in countries in the middle east, employer size, and or industries.
Survey data is often time-sensitive and may become out-of-date quickly. Because of the time-sensitive information, surveys are often identified by the year or quarter in which the data was collected.
The purpose of compensation surveys provides a means for comparison of salaries at the company in comparison with an external source like market salary, competition salary, industry salary, etc.
Why are salary surveys important in Dubai?
Compensation surveys ensure that a company does not overpay their employees that would damage their profitability while at the same time it ensures that employees are not underpaid for fear of losing them to competition or other employers
Genesis Executive Search, a top headhunting company in Dubai, has over decades of expertise in undertaking salary surveys in UAE. Our methodology to carry out the survey at a very specific time ensures very accurate results. We do not rely on salary data available from sources including our own database, but we carry out the salary survey assignment on date of the requirement adhering to the below methodology
Our compensation and benefits survey process commences with the below
Our recruitment consultant understands the client's business, candidate profile, the required job description, and candidate culture to get an understanding of the profile to target. It is important since the salary comparison of an Indian with 5 years UAE experience will be very different from an American with 3 years of Bahrain experience.
A candidate's profile may vary depending on qualification, skill set, culture, years of work experience, company, and industry. This understanding is extremely important to find the closest competitors, businesses, and final candidates. Language and regional expertise make a 30%-60% difference to the final report if not carefully evaluated.
Once target companies are identified, our resource consultant then gathers 13-15 different parameters on which the comparison will be made and proceeds with speaking, meeting, and verifying details. The final survey result may be shared with the target candidate.
All the data is collated and tabulated in a project report. Each report contains 3 targeted companies, each with a profile very similar and closest to the client requirement. The report contains basic salary, housing allowance, travel allowance, a company maintained car, commissions, bonus, working hours, medical insurance, Annual tickets, reimbursements, phone and call allowance, laptop, any fixed cash allowance, family visa expenses, appraisal.
The report is finally presented to the client with a brief explanation of each parameter in line with local laws and regulations.
Salary and Compensation Parameters
The different compensation parameters for structured profile analysis and Review and as per UAE law are
House Rent Allowance
Annual Return Airfare
Variable Expenses depending on the structure and company policy
Vehicle and its maintenance
Education Allowance for children
Recreation Allowance (Gym membership etc)
Commissions (monthly/quarterly or yearly)
Bonus (ProjectWise or annual)