Retention of employees will be the biggest challenge for human resources managers in the Arabian Gulf region over the next 12 months, according to a report by recruitment agency Hays, as a more subdued economic climate and an influx of newer businesses chips away at employees’ loyalty.
Nearly 60 per cent of HR leaders surveyed by Hays said talent management and retention will be the main area of focus in the next two years.
“The relatively relaxed entry and employment conditions of the region mean that the labour market has always been transient in nature, with higher attrition levels compared to other geographies,” said Chris Greaves, managing director for Hays Gulf Region.
“We see many expat job-seekers migrating to the region for part of their career, in light of the tax-free salaries and to save money, before moving back to their home countries. In addition to this, local employment laws allow labour to move relatively freely between employer and therefore many individuals will work for more than one organisation during their time in the GCC.”
About 57 per cent of working professionals in the region are looking to switch employers during 2017, according to a Hays survey published earlier this year.
“The challenging economic climate of the past two years in response to weak energy prices, coupled with the continuous influx of new business ventures has amounted to a more competitive landscape for organisations,” said Mr Greaves. “As a result, reducing staff turnover and retaining of top talent is of much greater significance to employers than previous years.”
A total of 543 hospitality projects worth Dh262.77 billion ($71.6 billion) are currently under way across the UAE, thus reflecting the vibrancy of the leisure, tourism and the entertainment sectors,
Abu Dhabi’s US$7 billion Khalifa Port is on track to complete marine works by the second quarter of next year in an expansion project to accommodate a new terminal that will be managed by China’s Cos
The Central Bank of the UAE has stepped up action against banks following complaints of mis-selling on consumer and investment products, a senior executive at the institution said on Tuesday, Nari
Leasing and hire purchase firms are showing signs of stability and overall asset growth is expected to be around 5 per cent this year, a top-level official from a non-banking finance company said.
Times of Oman
The National Business Centre (NBC), which is part of the Public Establishment for Industrial Estates (PEIE), hosted on Tuesday an edition of its Reyooq initiative, highlighting the significance of in
Oman Daily Observer