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Now that the UAE economy is going through a golden period, and companies are vying with each other to attract the best of talent, retaining staff is becoming increasingly contentious. After enduring layoffs, mandatory overtime, and the pressures of doing more for less, many good performers are all looking to pick up good offers from others. Expat salaries are on a constant upward spiral. Grappling with inflation and high costs of replacement, firms in the region are grudgingly realizing the importance of retaining talent even at the cost of handing out unexpected and out-of-turn raises.
There is also a focus on creating an environment where employees feel valued and have meaningful work to do. There is no doubt that people want to make a difference. In return, they want to be treated with dignity and respect, and exert a certain degree of control over their future. Worldwide, there is an increasing acceptance that human capital might be the best asset that a company can hold on to. In the region, as companies build strategies for Expo 2020, they are increasingly understanding the value of employees within the organization in order to ensure a certain degree of profitability and sustainability.
Leadership is vital to engaging people and delivering results. Leaders need to communicate clear directions and priorities, let people know what's expected, and regularly share how they are conforming to their job description.
People enjoy working on winning projects. When employees get to perform meaningful work, they use a variety of skills, solve problems, and find new and better ways to get things done. They know that their contributions make a difference for the customers, the team and the organization.
Companies committed to professional development offer training benefits to staff. Employees need to learn and grow, and leaders should be actively involved in developing their people to the best of their potential.
• Companies are vying with each other to attract the best talent
• They have also realized the importance of retaining top talent
• Those committed to professional growth offer training benefits
Source: Debasree Banerjee, Special to Jobs & Careers
The writer is Corporate Communications Manager, Blue Ocean Academy, Dubai