A new poll commissioned by Zurich International Life in the Middle East shows that most people in the UAE and Saudi Arabia are planning to quit their jobs in the next few months.
The poll, which had 2,507 people from the two Gulf states answer, found that 74% of workers in the UAE and 78% of workers in Saudi Arabia are thinking about switching jobs in the next 12 to 18 months.
Zurich said that the study’s results show that businesses need to pay more attention to the perks they give their employees to keep their best workers, especially in a stiff job market.
Women and workers between the ages of 25 and 34 are the most likely ones to be looking for new jobs.
84% of those asked said they would be happy to switch jobs for a new one that paid the same but had better benefits.
Zurich said, “Employers must adapt to changing needs by giving employees benefits that help them reach important goals that they value most.”
Lack Of Talent
The two Gulf countries already have a big problem with a lack of qualified workers. The study found that the problem is about 24% in the UAE and 30% in Saudi Arabia. The operations and logistics areas are the ones with the biggest talent gaps.
A quarter of workers in the UAE and Saudi Arabia have changed jobs in the past year alone, drawn by better pay, better perks, and chances to move up in their careers.
The insurance company said that businesses should look at their perks and make them better.
They should focus on important things like workplace savings, financial well-being education, life insurance, child education allowances, and critical illness, the report stated further.
President and CEO of Zurich Workplace Solutions, Adam Watterson, said, “Employee benefits have taken centre stage and is rapidly evolving, pushing employers to adopt a holistic approach to talent retention.”
“One of the hot topics right now is workplace savings and pensions for expats who are worried about how they will pay for retirement,” the official stated further.
End-of-service rewards will be a key part of attracting talent from other countries and keeping the economy stable.
According to Radius Insights, the poll was taken in July and August 2023. The purpose of the study was to find out how the lack of workers, job perks, and culture at work have changed over 2022.