With the year 2017 forecast to be a period of job hopping in the UAE and across the Gulf, businesses have been encouraged to find ways to retain talent and foster staff loyalty.
Loyalty is one of the key ingredients to the success of a company. Employees who display a high level of commitment to their organisation don’t just stick around for a very long time, they tend to work hard and are more efficient.
And when it comes to loyalty, there appears to be just one biggest motivator of all – money.
In a new study conducted recently, nearly half of workers in the UAE consider the size of their monthly paycheck, as well as the compensation and benefits packages, as the biggest factor influencing staff loyalty.
About a third are specific about salary as the biggest motivator, followed by compensation and benefits, direct managers, top management and team members.
Online job portal Bayt.com, which conducted the study from November 4, 2016 to December 10, 2016, also said that office environments are also an important “loyalty factor” for many of UAE employees.
In order to increase staff loyalty, companies should also invest in the career growth of their employees, with nearly four in ten respondents (38.2 per cent) in the region citing lack of promotion and career development as the biggest factor that can damage loyalty.
Low salaries (28.2 per cent), as well as unfair division of work and responsibilities (22.1 per cent) and biased or subjective feedback (11.6 per cent) can also damage staff loyalty.
“Employers should be well aware that granting opportunities for growth and advancement and truly listening to what matters to the employee are among the best ways to win their loyalty and support,” said Suhail Masri, vice president of employer solutions at Bayt.com.
“We are not simply talking about retention here. Employee loyalty is parallel to dedication, trustworthiness and positive work ethics. Targeting loyalty plays a central role in furthering the success strategy of an organisation or company, regardless of size and activity sector,” she added.
The results of the survey were based on a total of 8,223 workers, employers and human resources (HR) professionals from the UAE, Algeria, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Tunisia, Qatar, Saudi Arabia and Yemen, among others.