Two-thirds of Gulf staff looking to quit job

Two-thirds of Gulf staff looking to quit job
by Joel Bowman on Sunday, 10 February 2008 

Gulf businesses face a tough year ahead trying to retain staff, with more than two-thirds of employees indicating they are more likely to leave their job this year than in 2007, the ArabianBusiness.com Salary Survey has revealed.

Data from the first annual survey shows a sharp decline in job loyalty across the GCC, led by Oman, Saudi Arabia and the UAE.

Almost three-quarters of employees in Oman said that were more likely to quit their job this year, with only 11% saying they were more likely see the year out in their present position.

In Saudi Arabia 69% of employees said they were looking for another job, while in the UAE the figure stood at 68%.

Bahrain registered the highest level of company loyalty, but over half of employees still said they planned to look for other work this year, compared to just 20% that said they were more likely to stay put.

The attractiveness of the GCC for expatriate workers has taken a hammering over the last 24 months due to the rising cost of living and weakening of Gulf currencies linked to the tumbling US dollar.

Inflation surged to record highs across the Gulf last year, hitting 14% in Qatar, 7.6% in Oman, 6.2% in Kuwait, 6% in Saudi and 4.9% in Bahrain.

Inflation hit a 19-year high of 9.3% in the UAE in 2006, the last official figure. Some analysts have predicted inflation in the Emirates could surge to 12% this year due to soaring real estate prices and the weakening dollar.

The dollar hit record lows against major global currencies last year, dropping almost 12% against the euro and the Indian rupee, and 2.8% against the British pound.

According to the salary survey, workers from India were particularly dissatisfied with their current employment, with 69% saying they were more likely to quit their jobs this year.

Only 16% of Indian and 13% of Pakistani workers said they were less likely to switch jobs.

The most dissatisfied nationals in the UAE however were South Africans, 71% of whom indicated they were more likely to change companies in the coming year, while in Saudi Arabia expatriates from the UK topped the table as the most likely group to seek a new job in 2008.

Less than 10% of UK workers in Saudi said they were less likely to transfer companies this year.

Over 7,000 Gulf employees have so far participated in the salary survey.

The survey seeks to identify key issues for both companies and their employees in the region, which faces a range of issues from fair wages and working conditions to increased competition in the job market.

The full results of the ArabianBusiness.com 2008 Salary Survey will be published next week.