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Most workers in the UAE and Saudi Arabia are looking at leaving their current jobs in the next several months, according to a new survey commissioned by Zurich International Life in the Middle East.
The survey, which included 2,507 respondents in the two Gulf states, found that 74% of employees in the UAE and 78% in Saudi Arabia are considering changing jobs in the next 12 to 18 months.
Zurich said the findings of the study highlight the need for companies to pay closer attention to the benefits they offer to their staff, to ensure their top talent don’t leave, especially in a competitive market.
The most active in exploring new job opportunities are women and younger workers in the age group of 25-34.
Among those polled, 84% said they would willingly change jobs for a new role with the same pay but better employee benefits.
“Employers must thus adapt to changing needs by introducing employee benefits that address critical goals valued most by employees,” Zurich said.
Talent shortage
The two GCC countries are already facing a significant talent shortage, standing at approximately 24% in the UAE and 30% in Saudi Arabia, the research also found. The talent shortage is most pronounced in the operations and logistics sectors.
In the past year alone, a quarter of employees in the UAE and Saudi Arabia have changed jobs, drawn by better pay, enhanced employee benefits and professional advancement opportunities.
The insurer said companies need to reassess and improve the benefits they offer to their staff, focusing on critical aspects such as workplace savings, financial well-being awareness, life insurance, child education allowance and critical illness cover.
“Employee benefits have taken centre stage and are rapidly evolving, pushing employers to adopt a holistic approach to talent retention,” said Adam Watterson, Senior Executive Officer at Zurich Workplace Solutions.
“One of the trending areas is workplace savings and pensions for expatriates concerned about their retirement planning. End-of-service benefits will play a pivotal role in drawing talent from international markets and fostering financial stability.”
The survey was conducted by Radius Insights during the months of July and August 2023. The study was carried out to understand how workforce shortage, employment benefits and workplace culture have evolved over the course of the last year.
(Writing by Cleofe Maceda; editing by Seban Scaria)
