GCC construction can look forward to workforce stability in 2018
The fact that the results of Construction Week’s 2017 Salary Survey so closely echo those collected last year suggests that our industry can look forward to a period of relative stability
The results of Construction Week’s 2017 Salary Survey are in, and they make for interesting – if somewhat familiar – reading. While there are several notable differences between this year’s findings and those compiled as part of the 2016 iteration, the overall theme is one of consistency.
Every year, Construction Week invites the GCC’s construction community to complete a brief questionnaire in a bid to find out how their wages compare with those of their peers. The survey also gauges factors such as salary-related expectations, the prevalence of disruptions to pay, the most common benefits, and average working hours.
The results provide a valuable barometer for the sector, allowing regional construction professionals to find out whether they’re being treated fairly by their employers, both in terms of working conditions and remuneration. The survey also enables Construction Week’s editorial team to track industry trends from year to year.
If you’re looking for in-depth analysis of this year’s results, check out our in-depth statistical analysis. For the purposes of this article, however, I’m going to run through some of the main highlights. Let’s begin with the most interesting year-on-year differences.
Certainly, one of the most encouraging trends revealed by Construction Week’s 2017 Salary Survey is the rise in overall job satisfaction, which has increased by approximately 10% since last year. When asked to rate how satisfied they were with their employers – with one being the lowest and 10 being the highest rating – the 2016 cohort registered an average score of six. In comparison, the average score submitted by this year’s respondents was a touch above seven out of 10.
Year on year, the proportion of participants intending to move jobs during the next 12 months remained the same at 52%. However, a larger percentage of the 2017 cohort expects to stay in the GCC after changing roles. In fact, 86% of this year’s respondents believe they’ll remain in the region, compared to 83% in 2016.
By and large, the statistics that represent cause for concern, such as the persistence of salary disruption and wage stagnation, have remained stable since 2016. While this should not necessarily be presented as good news (these problems still exist), one could find solace in the fact that the situation does not appear to have worsened during the past year.
That the findings of Construction Week’s 2017 Salary Survey so closely echo those collected last year suggests that regional employers can look forward to a year of relative stability. And in truth, this is exactly what is needed in a challenging market: a committed and reliable workforce.