The NBK announced during it’s 57 years anniversary party today that the annual salary raises was increased to 5% from 2%.
Wishful thinking: Let’s hope the rest of the private sector follow suit and increase their (supposed) annual raises.
Lets hope that things start improving for all companies in the private sector..
mako 3ala el b3eeer 9eg ena b3eeeeer
I read once that if you don’t raise your employees’ salaries at least in line with inflation it’s as if you’re penalizing them. There’s such a thing as the time value of money and if my KD 100 on January of this year can’t buy me as much as my KD 100 at the end of this year it doesn’t seem fair that my pay doesn’t rise. Now the CBK governor said that the inflation rate will be less the 5% in the last few months of this year. This means that NBK is more or less giving their employees just the amount covered by inflation. In other words, it’s not a pay raise, it’s just FAIR give or take a few percentage points.
Having said that, in these circumstances you’re lucky even if you get a 1% raise.
When I worked at NBK I got 5% annual increase in my salary, its not new thing.. I think what they meant is that ALL employees regardless of their KPIs will get 5% this year in celebration of NBK’s 57th 😉
On the other, they have already fired hundred of employees. So they have already saved enough money to make even higher raises 🙂