Flexible working ‘key to retaining top staff’
Manama, January 20, 2014
A majority (74 per cent) of employees in the Middle East would choose one job over another similar one if it offered flexible working, a report said.
A staggering 71 per cent confirm that flexible working also improves staff retention, added the latest survey by Regus, the global workplace provider.
Recruitment is an expensive process that many global businesses are keen to reduce, the report noted.
A recent report by the Hays Group attributed the high rate of staff turnover in the Middle East to the 52 per cent of respondents that felt that their employers did not offer a good work:life balance.
While employee retention has been reported as a priority for more than one third of businesses, flexible working provides a solution to firms to slash hiring costs, attract and retain top staff, according to the report.
The survey, canvassing the opinions of more than 20,000 senior executives and business owners across 95 countries, confirms that in the Middle East flexible working can be used to avoid employee churn (and the consequent expense of recruitment agencies) as 67 per cent of respondents point to flexible working as a perk that attracts top talent.
The research also found that:
• 66 per cent of respondents say offering flexible working makes employees more loyal;
• 54 per cent of workers would actually turn down a job that ruled out flexible working;
• 58 per cent say they would have stayed longer in their last position had flexible working been an option.
Samer Mouneimne, area director at Regus said: “Hiring and retaining top talent is an age-old priority for successful businesses, but not all companies can afford to offer golden bonuses or salaries above market rate while remaining competitive. Lowering staff turnover is also vital in reducing recruitment agency costs and the inconvenience of starting the hiring process.”
“Other benefits of flexible working, which often costs less than fixed office working, can include lowering stress and improving work:life balance. It’s also striking how mainstream the perk of flexible working has become, with many respondents actually choosing a job based on this factor alone,’ he added. – TradeArabia News Service