Companies are being forced to get creative to retain staff who are considering making a move, thanks to the “Great Resignation".
The term, coined by Anthony Klotz, a psychologist and professor at Texas A&M University, refers to the global trend of employees rethinking their career options since the onset of the Covid-19 pandemic, with many re-evaluating their careers due to the flexibility their new situations offered.
A survey by recruitment firm Robert Walters found that two thirds of professionals are looking to move jobs in the first half of the year.
It also said a significant number held on to their jobs in anticipation of a bonus and pay rise in 2022.
Staff have had a taste of better work-life balances and are reconsidering what they will accept in their careers
Vijay Gandhi,
Korn Ferry
“Any companies who did not adequately reward their staff at the beginning of this year have potentially put themselves at risk of losing some of their best assets,” said Jason Grundy, managing director of Robert Walters Middle East and Africa — the group behind the study.
“They consequently will find themselves in a bidding war for their own employees as the market continues to heat up.
“If pay increases are not on the agenda, then it is crucial that managers check in with their team to get an idea of career plans and how they as an employer can assist.”
Employment experts told The National that firms were having to think outside of the box to keep hold of staff tempted to change employers or take an extended break from the workplace.
A Dubai-based recruitment expert said companies were scrambling to retain staff as the market begins to recover from the pandemic, with firms actively recruiting again.
“We’ve seen a rise in the number of people getting pay rises in recent months,” said David Mackenzie, group managing director of recruitment agency Mackenzie Jones.
“Companies are realising they’ve got to keep their talent.”
He warned it was not enough to give pay rises to employees considering moving elsewhere.
“It might keep them in the short term but they are likely to leave after six months,” he said.
“Money is not the reason staff ultimately stay at a company.
“It’s the atmosphere, environment and culture of the workplace that matters most when trying to keep people happy.”
Companies in the UAE have had to look at alternatives to ramping up salary packages, he said.
“They are thinking about how to keep good talent and incentivise them,” said Mr Mackenzie.
“Offering pay reviews and learning support are some of the ways they have been trying to retain staff.
“In some cases, they have even offered free parking spaces to try to persuade employees not to move on.”
Firms have also offered staff loyalty bonuses, with higher payments for each year they stay, he added.
“There are a lot of jobs out there right now and there are not enough candidates,” said Mr Mackenzie.
The issue is a global one, with reports from all over the world on how firms are struggling to both retain and attract staff during the Great Resignation.
The number of workers quitting their jobs in the US exceeded pre-pandemic levels for eight consecutive months, consumer data company Statista found.
A German insurance technology firm, Deutsche Familienversicherung, was offering €500 to anyone it interviewed, with the number doubling for those who were asked back for a second interview.
And anyone who completes six-month probation with the firm will receive a payment of €5,000.
UAE Salary Guide
One emerging trend is people in the UAE applying for jobs to force their employers to match any offer, said Vijay Gandhi, a director with HR and recruitment firm Korn Ferry.
“There has been a rise in the number of people going for interviews, being successful and then pulling out at the last minute when their current employer matches the salary offer,” Mr Gandhi said.
“We are seeing increasingly that job offers are being used as bargaining power with an employer.”
He said the jobs market was opening up after firms had tightened their belts during the pandemic, which, coupled with staff working from home, empowered employees to reconsider their positions.
“Staff have had a taste of better work-life balances and are reconsidering what they will accept in their careers,” said Mr Gandhi, who added that being forced to work longer hours “is no longer tolerated by the likes of Gen X and millennials".
About 56 per cent of employees in the UAE expect to change jobs in 2022, the results of a recent survey by recruitment firm Hays showed.
This was up from last year, when 48 per cent had the same aspiration, but down from 2019, before the pandemic hit, when 60 per cent planned to leave their companies.
The firm’s managing director in the Gulf said the Great Resignation would not hit this region as hard but employers could not rest on their laurels.
“Retaining top performers is and always has been a challenge for employers the world over,” said Sarah Dixon, managing director of Hays Gulf region.
“In the UAE, attraction and retention of staff used to be all about salaries and financial compensation.
“While salary is still very important, employees have become more intent on non-financial benefits and the overall company culture than previous years.”
Companies more relaxed about replacing staff because it was common for hundreds, even thousands, to apply for vacancies in the UAE is a risky strategy, she added.
“It is true that the UAE is a very candidate-heavy market relative to the rest of world, however staff turnover is always a worry to employers, regardless of how many jobs seekers there are in the local market,” Ms Dixon said.
“Staff turnover is costly both in time and money, with training and upskilling new employees, but it also has negative impacts on a company’s reputation and culture.
“It is not easy to replace reliable, capable members of staff and employee retention is a significant focus for employers in the region.”
HR consultant Claire Donnelly said firms would have to worry less about staff jumping ship if they made more effort to ensure they felt included.
“People get more engaged when they understand how they fit into a company and how their role affects the overall performance,” said Ms Donnelly.
“If everyone’s on board with the same goals and values it is a big help, people want to feel more than just a resource.”
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ETFs explained
Exhchange traded funds are bought and sold like shares, but operate as index-tracking funds, passively following their chosen indices, such as the S&P 500, FTSE 100 and the FTSE All World, plus a vast range of smaller exchanges and commodities, such as gold, silver, copper sugar, coffee and oil.
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Election pledges on migration
CDU: "Now is the time to control the German borders and enforce strict border rejections"
SPD: "Border closures and blanket rejections at internal borders contradict the spirit of a common area of freedom"
The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
The Freedom Artist
By Ben Okri (Head of Zeus)
What is a Ponzi scheme?
A fraudulent investment operation where the scammer provides fake reports and generates returns for old investors through money paid by new investors, rather than through ligitimate business activities.
Company profile
Name: Dukkantek
Started: January 2021
Founders: Sanad Yaghi, Ali Al Sayegh and Shadi Joulani
Based: UAE
Number of employees: 140
Sector: B2B Vertical SaaS(software as a service)
Investment: $5.2 million
Funding stage: Seed round
Investors: Global Founders Capital, Colle Capital Partners, Wamda Capital, Plug and Play, Comma Capital, Nowais Capital, Annex Investments and AMK Investment Office
MATCH INFO
Tottenham Hotspur 3 (Son 1', Kane 8' & 16') West Ham United 3 (Balbuena 82', Sanchez og 85', Lanzini 90' 4)
Man of the match Harry Kane
The specs: 2018 Jeep Grand Cherokee Trackhawk
Price, base: Dh399,999
Engine: Supercharged 6.2-litre V8
Gearbox: Eight-speed automatic
Power: 707hp @ 6,000rpm
Torque: 875Nm @ 4,800rpm
Fuel economy, combined: 16.8L / 100km (estimate)
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
Results
Stage 7:
1. Caleb Ewan (AUS) Lotto Soudal - 3:18:29
2. Sam Bennett (IRL) Deceuninck-QuickStep - same time
3. Phil Bauhaus (GER) Bahrain Victorious
4. Michael Morkov (DEN) Deceuninck-QuickStep
5. Cees Bol (NED) Team DSM
General Classification:
1. Tadej Pogacar (SLO) UAE Team Emirates - 24:00:28
2. Adam Yates (GBR) Ineos Grenadiers - 0:00:35
3. Joao Almeida (POR) Deceuninck-QuickStep - 0:01:02
4. Chris Harper (AUS) Jumbo-Visma - 0:01:42
5. Neilson Powless (USA) EF Education-Nippo - 0:01:45
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
10 tips for entry-level job seekers
- Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
- Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
- Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
- For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
- Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
- Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
- Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
- Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
- Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
- Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.
Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz
HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Credit Score explained
What is a credit score?
In the UAE your credit score is a number generated by the Al Etihad Credit Bureau (AECB), which represents your credit worthiness – in other words, your risk of defaulting on any debt repayments. In this country, the number is between 300 and 900. A low score indicates a higher risk of default, while a high score indicates you are a lower risk.
Why is it important?
Financial institutions will use it to decide whether or not you are a credit risk. Those with better scores may also receive preferential interest rates or terms on products such as loans, credit cards and mortgages.
How is it calculated?
The AECB collects information on your payment behaviour from banks as well as utilitiy and telecoms providers.
How can I improve my score?
By paying your bills on time and not missing any repayments, particularly your loan, credit card and mortgage payments. It is also wise to limit the number of credit card and loan applications you make and to reduce your outstanding balances.
How do I know if my score is low or high?
By checking it. Visit one of AECB’s Customer Happiness Centres with an original and valid Emirates ID, passport copy and valid email address. Liv. customers can also access the score directly from the banking app.
How much does it cost?
A credit report costs Dh100 while a report with the score included costs Dh150. Those only wanting the credit score pay Dh60. VAT is payable on top.
White hydrogen: Naturally occurring hydrogen
Chromite: Hard, metallic mineral containing iron oxide and chromium oxide
Ultramafic rocks: Dark-coloured rocks rich in magnesium or iron with very low silica content
Ophiolite: A section of the earth’s crust, which is oceanic in nature that has since been uplifted and exposed on land
Olivine: A commonly occurring magnesium iron silicate mineral that derives its name for its olive-green yellow-green colour
