Dubai: Employee turnover has always been a problem in many companies around the world. It doesn’t just disrupts business operations and productivity, it’s also costly for the management.
While some studies have claimed that most expatriates, who represent the majority of workers in the UAE, are staying longer in the country, organisations are still having problems retaining their staff.
According to the Robert Half 2014 Middle East Salary Guide, which provides information on starting salaries and recruitment trends in the region, voluntary employee turnover continues to increase because many professionals are being enticed with “additional remuneration and perks from competing firms.”
Among the CFOs surveyed, 36 per cent said voluntary employee turnover has gone up. The majority (52 per cent) cited lack of remuneration or recognition as the reason workers leave. More than a third (33 per cent) cited concern over company performance or fear of redundancies, while 30 per cent pointed to poor work-life balance.
“Staff turnover is reportedly on the rise, with remuneration, company performance and work-life balance topping the list of reasons employees leave,” the report said. “Counter-offers are common as companies struggle to keep their most valued employees on board, a reflection of the challenges they face in recruiting new ones.”