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One important aspect of every organization is attracting and retaining top talent, especially in the UAE’s dynamic business market. The UAE has a diverse pool of talents significantly contributing to the growth and success of business organizations. Besides offering competitive salary packages, employers are in the quest to bring a talented workforce that goes beyond monetary compensation. Therefore, it is fundamental to implement key strategies for employee retention that come with unique opportunities and challenges.
According to an article published by Gulf Business, LinkedIn data reveals that 62% of UAE professionals would seek new opportunities that better correspond with their requirements and values in 2024.
In this blog, we will explore the factors affecting talent availability and highlight the strategies and considerations essential for fostering a thriving workforce.
What is Talent Attraction and Retention?
Talent attraction and retention in an organization are two different concepts. The former encloses the process of identifying and attracting potential candidates who can significantly contribute to the organization’s success, while the latter refers to the practices that organizations implement to retain their skilled workforce over the long term.
It involves various stages, from recruitment and onboarding to career development and employee engagement initiatives. The companies in the UAE are not only involved in creating a positive work atmosphere but also make their employees decide to choose and stay within.
Since employees are the brand ambassadors of the organization, employee engagement helps in long-term commitment and satisfaction. In the UAE, where the business environment is dynamic and diverse, it requires a nuanced approach to attracting and retaining skilled professionals.
The Importance of Talent Attraction and Retention
By attracting top talent, organizations ensure that they have the expertise to innovate, adapt to market changes, and deliver exceptional business outcomes. Retaining top talent helps in reducing turnover and enhances operational efficiency and financial stability. Moreover, a stable and experienced workforce promotes long-term business relationships and strengthens the UAE’s reputation as a hub for business investments. There are several reasons to attract and retain the talented workforce in the UAE. Here are some:
1. Competitive Advantage
Having a talented workforce provides a substantial competitive edge. Skilled professionals have the ability to contribute to innovation, productivity, and outperform their competitors. They create a snowball effect with other employees in reinforcing the organization’s efficiency and productivity. Companies with a strong workforce are better positioned to stay ahead of the business trends.
2. Cost Savings
High turnover rates can come at a high cost for organizations. Recruiting and onboarding new employees incur expenses associated with hiring and training them. The productivity lost during this transition period can impact the bottom line of the organizations. The best way to implement cost savings is to retain talent which allows companies to allocate resources more effectively towards growth and development.
3. Organizational Stability
A stable workforce reduces disruptions and maintains continuity in business operations. Often, they bring valuable insights that contribute to the organization’s long-term success and enhance employee morale. In a region known for economic diversification, stable organizations can mitigate risks and strengthen the company’s reputation in the UAE landscape.
4. Enhanced Reputation
A positive reputation as a top-rated organization distinguishes itself in the UAE business market. Organizations known for their positive work environments and employee-centric policies are more likely to attract talented professionals seeking career growth and job satisfaction. It also enhances credibility in regulatory compliance, paving the way for a smoother place to work and thrive.
5. Innovation and Growth
The UAE has a vibrant ecosystem that gathers diverse expertise and fresh perspectives together. Talented professionals build a culture of creativity and drive continuous improvement within the organization. Having a strong team of experts attracts more investment opportunities, which speeds up business growth and brings new challenges to the table.
Characteristics of a Top Talent
A talented workforce has a unique set of capabilities and qualities that drive organizational success. These characteristics may include:
- Self-driven: These individuals are motivated to take on challenges and exceed expectations in achieving the company’s objectives.
- Adaptability: They thrive in dynamic and changing environments, easily adjusting to new challenges.
- Leadership: Top talents inspire and influence their peers and nurture collaboration and initiatives.
- Problem-solving skills: A skilled person analyzes issues systematically and implements effective solutions.
- Continuous learner: They exhibit a willingness to expand their skills and grow professionally.
Factors Affecting UAE’s Talent Availability
Many companies in the UAE face challenges in retaining their top performers. Several factors that contribute to the UAE’s talent availability are as follows:
1. Lack of Career Development
Employees in the UAE are constantly acquiring knowledge and growing throughout their careers. They are more likely to leave organizations where they feel their career growth is stagnant. If a company does not provide clear pathways for career development, talented individuals may seek opportunities elsewhere to pursue their professional aspirations.
2. Poor Work-life Balance
Approximately 50% of UAE private sector employees struggle with work-life balance.
In today’s day and age, employees prioritize a healthy work-life balance. When the work atmosphere blurs the line between personal and professional life, it can lead to burnout and dissatisfaction among employees. Organizations that do not provide flexible work timings and appropriate leave policies risk losing their performers to companies that offer employee welfare.
3. Mismatched Cultural Fit
When the natives and non-natives work alongside each other, cultural alignment plays an important role. Employees grow in workplaces where they feel a sense of belonging and resonate with employee values. A lack of cultural fit can lead to dissatisfaction and disengagement among employees, ultimately resulting in turnover. To retain top talent, companies should cultivate a culture of inclusivity and diversity regardless of their nationality.
Strategies to Attract and Retain Top Talent in the UAE
To effectively attract and retain top talent in the UAE, there are several key strategies companies in UAE can implement:
1. Competitive Salaries and Benefits
20% Employees in the UAE private sector are dissatisfied with their salaries and benefits.
Potential applicants expect a competitive salary or package in the UAE in exchange for work. Companies present amidst the UAE’s economy can provide comprehensive packages such as bonuses, health insurance, and retirement benefits.
Sometimes, the salary expectations can be far-fetched to meet the business requirements. In that case, provide other perks such as employee engagement, performance management, and employee productivity to create the best working environment.
2. Offer Career Growth Programs
One consideration that is equally important to retaining top talent is to invest in career development programs. Employees are generally inclined to the companies where they provide structured career paths, mentorship, and training programs. It demonstrates a commitment to employee growth and progression.
With regular feedback and reviews, employees can understand the organization’s objectives and identify areas of development through these programs.
3. Build a Positive Work Culture
In the UAE, where cultural diversity is widespread, promoting a positive work culture is needed for employee satisfaction and retention. It includes open communication, transparency, and respect for diverse backgrounds.
Team-building activities or cross-department events can strengthen bonds among employees and enhance morale. Moreover, when the employee feels valued, appreciated, and respected, they are motivated to contribute the best.
4. Prioritize Employee Well-being
Nowadays, organizations are focusing on creating an environment for employee’s well-being. Investing in wellness programs, mental health support, and therapy sessions can not only increase physical health but also mental and emotional well-being.
Organizations can also promote a healthy environment by addressing the stress factors at the workplace. Moreover, promoting diversity and inclusion initiatives further enhances employee satisfaction and productivity.
5. Acknowledge and Reward
Rewards are recognition are the sole motivators of enhancing employee morale. Organizations can establish events periodically to appreciate the employees and honour their efforts. This can include public acknowledgment, written appreciation, or award programs.
Companies can also implement an internal social wall – Nexus, a product of Akrivia HCM. It is an engaging and interactive platform within the organization to keep the employees engaged. Constantly expressing gratitude will enhance the likelihood of employee retention rates.
6. Enhance Onboarding Experience
Lastly, every employee wants to feel welcomed. The best approach to making a first impression is to initiate a smooth onboarding process. As the UAE has a vibrant cultural diversity, nurturing a welcoming environment demonstrates its commitment to organizational values.
For an efficient onboarding process, Akrivia HCM acts as a single source of truth to manage the entire employee lifecycle. Implementing Akrivia HCM not only streamlines operations but also enhances the overall recruitment experience, attracting and retaining top talent effectively.
Final thoughts
In today’s changing workforce needs, attracting and retaining top talent in the UAE requires a comprehensive approach. By prioritizing strategies such as company culture, career advancement, work-life balance, and recognition, organizations can create a healthy environment where employees thrive and contribute to long-term organizational success.
Investing in talent attraction and retention not only provides a robust workforce but also positions businesses as employers of choice in the UAE’s landscape. By implementing these strategies thoughtfully and consistently, organizations in the UAE can build a talented and engaged workforce to keep them on board for a prolonged period.
