GCC corporations expect rise in revenues and staff

Corporations in the GCC are forecasting a growth in revenues and an increase in staff in 2010, in spite of growing financial concerns in the region, according to a study by Mercer.

The HR consultancy’s survey found that 65.4 percent of the companies surveyed expect to either meet or top their revenue targets for 2009, and 70 percent forecast higher returns next year.

Furthermore, 56.4 percent of respondents claim they will increase their staff in 2010, with 20 percent claiming they will boost their workforce by one-fifth. Almost half say they will increase salaries in 2010.

The study notes that 40 percent of the companies surveyed were forced to reduce their staff by almost 10 percent.