73% UAE employees show no sign of attrition for next 5 years – Here are top takeaways
Positive sentiments prevail among the workforce in the UAE, as evidenced by the fact that over 73 per cent of employees express their intention to stay in the country for the next five years or beyond.
The 2024 UAE Salary Guide, released by Michael Page, highlights that the region's second-largest economy continues to be a highly appealing market for the majority of employees. Factors such as career prospects, safety, living conditions, salary, economic context, geographical location, and cost of living are cited as the primary reasons motivating employees to choose a more extended stay and work commitment in the UAE.
“Candidates are now looking to move and work in the country more long-term, viewing the location as an opportunity for further career development as organisations develop what they offer as a package and progression than ever before,” the global HR and recruitment consultancy said in its annual study, reported Khaleej Times.
The UAE government's recent initiatives, including the implementation of golden visas, retirement visas, freelance visas, and others, have successfully drawn in a significant number of professionals to the country.
These visa programs have proven instrumental in encouraging expatriate professionals to consider longer-term stays, driven by factors such as economic stability, promising career and business prospects, access to quality healthcare and education facilities, among other considerations.
Jon Ede, the regional director for the UAE at Michael Page, emphasised that the continued attractiveness of the UAE as a work destination plays a crucial role in both attracting and retaining top-tier candidates globally.
Approximately 74 per cent of employees in the UAE express positivity regarding the current job market, with an even higher percentage, 79 per cent, expressing optimism about the future job market.
According to the survey, 53.6 per cent of workers express satisfaction with their company culture, 44.5 per cent with their salary, and 36.4 per cent with opportunities for promotions.
Michael Page noted a shift in candidate priorities, highlighting that while work/life balance was previously a leading factor in job changes, there has been a decline in its importance compared to previous years.
Instead, salary has returned as the primary motivating factor for candidates considering role switches. This shift is deemed unsurprising, given the economic changes and the rise in the cost of living. Employees seek new opportunities for various reasons.
Notably, 80 per cent of candidates express confidence in securing a role within three months. The survey reveals that a significant majority is actively exploring new career opportunities.
Motivations include the pursuit of a better salary package, a desire for more career development, the need for increased responsibility, a quest for improved work/life balance, a desire for more recognition, and a preference for a different company culture.
Ede mentioned that recruitment in the UAE remained robust throughout 2023, primarily driven by non-oil-based sectors. He noted that organisations consistently show enthusiasm for both attracting and retaining high-quality talent, aligning with their strategic plans for 2024 and the future.