Multinationals seen as having highest retention rates
Dubai, UAE, 24February 2013:‘Employee Retentionin the MENA Workplace', a poll recently conducted by Bayt.com -- the region's number one job site -- has revealed that the majority of employees stay no longerthan five years in a job before moving on, while more than half claim they would liketo leave their jobs immediately.
A whopping 75.9% of the poll's respondents believe that the turnover rate in their companies is ‘very high' or ‘moderately high'. 60.2%state that retention today is lower than in previous generations.
Most respondents claim that the average amount of time they have spent in a job is no more than five years: 27.7% have stayed between twotofive years, 20.5% have stayed for no more than two years, while22.2% have stayedfor an average of less than one year in a given job.When asked, 54.7% state that they want to leave their job immediately, with only 16.4% intending to stay in their current job until retirement – though 36.8% of respondents have high hopes for career longevity and say that they never want to retire.
Sales and Marketing is considered to be the department with the highest turnover by 43.9% of poll respondents, while 43.5% believe that fresh graduates and entry level professionals are considered to be the easiest to retain. 32.5% of polled professionals indicate they found their last job online.
In terms of the driving forces behind changing jobs, fear of being fired is one of the biggest issues, according to 44.7% of respondents. Not being paid enough is also a main motivator for resigning, with 45.2% of respondents indicating this insecurity is their primary reason for changing jobs. Only 5.7% stated that they left their last job due to being made redundant or being fired.
“With the results of our poll showing that retention levels are now lower than beforecompanies looking to hold onto their employees should consider introducing more creative and sophisticated compensation and benefits structures to encourage them to stay.Simply providing regular positive reinforcement and recognition for a job well done would also seem to be a key motivator as would clear and transparent career progression guidelines and regular career development counseling and coaching conversations,” said Suhail Masri, VP of Sales, Bayt.com. “Professionals today are able to tap into thousands of jobs instantaneously through leading dedicated regional jobsites such as Bayt.com and can apply to any and all jobs they are qualified for and interested in quickly easily and at no cost. Moreover, through dedicated professionals social platforms such as Bayt.com's Public Profiles platform, professionals are on the radar screen of top employers around the clock and in real-time and can be approached directly by employers with both advertised and unadvertised jobs seeking to fill key and senior positions. Companies are very cognizant that with leading jobsites such as Bayt.com shattering many ofthe main traditional barriers to career mobility and recruitment for professionals and employers respectively, the pressure is on them to provide a work environment and compensation and benefits apparatus that encourages maximum job satisfaction and healthy employee retention.”
Providing a more competitive salary is considered the most important factor in employee retention by 26.6% of respondents, followed by performance recognition (17.7%) and good manager-employee relationships (17.6%). Nine out of 10 (86.1%) also state that having higher levels of job security will improve retention rates.
Countries in the GCC are considered to have higher retention levels than the rest of the region (78.8% as compared to 3.6% for the Levant and 7.3% for North African countries; 10.3% believe retention is higher in ‘other' regions).Half of the respondents (49.4%) say that multinationals have the best employee retention levels followed by government entities (37.4%), large local companies (9.5%) and small local companies (3.7%).
“At Bayt.com, we endeavor to provide jobseekers and employers with up-to-the-minute information on the MENA region's job scene, so that they can make informed decisions regarding their career or potential hires” added Suhail Masri
Data for the Bayt.com ‘Employee Retention in the MENA Workplace' poll was collected online from January 15 – February 14 2013, with 11,120 respondents from UAE, KSA, Kuwait, Qatar, Oman, Bahrain, Lebanon, Syria, Jordan, Algeria, Egypt, Morocco, and Tunisia.