"Employee retention is the key to success"- How to do it?
The UAE is a lucrative market for businesses and potential candidates looking for a job. The country has plenty to offer due to its buoyant economy and strong GDP growth. People are flooding in numbers to tap the opportunities. As the market is getting competitive day by day, employers are burdened with the need to achieve business sustainability, and for this, they have the responsibility to retain good employees.
Employees are one of the main assets to a business without whom a business cannot operate successfully. According to a MetLife study, the country showed a strong relation between employee benefits and staff engagement, revealing the most important factor - employee retention. 44% of employers’ fear that the employees would join another organisation within the next year.
Good salary and benefits help in attracting an employee, but they are not sufficient to retain them. There must be something else to it? What will entice employees to join different organizations and what may influence them to remain in the present organisation? A good company should be capable of providing a good working environment. The HR should focus on using contests and incentives to keep employees motivated; this increases the level of excitement. Providing small perks like muffins on a weekday or work from home would help. An employee should be given a chance to develop his/her skills for career progression like providing training opportunities. The management should host regular meetings where an employee can express ideas and overcome fear. Last but not the least, employees want to be respected and appreciated for their efforts.