Kippreport investigates if oil prices aren’t the only cause for the market slumpAugust 27, 2015 12:00
What price loyalty?
Yet again, experts have offered some insight into the motivations of professionals in the region. But Kipp thinks they may just be trying to make employers feel better.
October 27, 2010 3:28 by shafeer
Local recruitment experts have told Emirates 24-7 that a good salary does not necessarily guarantee loyalty from employees.
“An excellent compensation package will help you to initially attract better employees, but retaining them has far more to do with management style and company culture,” says Cliff Single, Commercial Manager of BAC Middle East.
Konstantina Sakellariou, a Dubai-based Partner, Marketing & Operations Director at Stanton Chase International, says, “[Monetary benefits] may just keep an employee satisfied, or, if the remuneration is high, it may make it more difficult for the executive to move out of the company. But company culture, future growth opportunities and recognition within the company are for sure more important elements and build long-term relationships within a company.”
The article goes on to say that cash is just part of a wider equation; that the equation varies depending on an employee’s level; that it’s different for every individual… (‘Yada Yada,’ to steal from Seinfeld).
So why the big headline? Kipp gets the feeling these recruitment experts are trying to make employers (a key part of their client base) feel better about being unable to pay more.
“It’s okay,” they say, gently stroking the employer’s sleeve. “It doesn’t matter that your budget is decimated and you are paying well below market rate. What matters is that you’re a good person.”
Let them say that, but Kipp prefers a more honest appraisal. In this environment, money is just about the only thing that can buy loyalty. That, and stability. People have had a massive adjustment to make in the last two years; all notions of security and confidence have been decimated. Right now people are thinking of their homes and families and their futures. The new mantra for any practical person in the work place is, therefore, stability and salary; provide that and you can count on loyalty for some years yet.
We concede it is true, there is wisdom in the old saying that people leave managers and not companies. But that has little to do with a sense of loyalty, and more to do with personal differences. If you want to avoid that scenario as an employer, all you need to do is be professional, respectful, and communicative. That’s all an employee needs from the boss.
That, and the big, regular paycheck.
So if you can’t provide a big pay day, concentrate on the stability of your company when dealing with prospective employees. They may take a modest reliable paycheck over no paycheck at all.
Oh and one more thought: Don’t sweat your employee loyalty too much. Employees know that if it came to it, you’d drop them in an instant if you had too – consequently their sense of loyalty will only ever go so far.
What do you think? What would ensure your loyalty?