While every industry has unique drivers motivating its workforce, LinkedIn research in the MENA has found that the number one reason people leave their jobs is due to lack of opportunities for advancement (45%). The other biggest reasons people jumped included being unhappy with leadership (41%), being unhappy with the work environment (36%), and a desire for more challenging work (36%).
An in-depth analysis by LinkedIn into the highest talent turnover rates in MENA shows that in 2017, the technology sector, particularly the software sector saw the most number of professionals leaving their companies, pegging the figure at 12.3%. This was followed by ‘Professionals Services’ at 11.1% and ‘Telecommunications’ at 9.65%.
“The trouble with retaining tech talent is high-demand and rising compensation within the industry. As employers and offers get more competitive, top talent is more eager to jump on new opportunities. Emphasising career advancement can help retain current employees and attract new ones,” said Ali Matar, Head of LinkedIn Middle East and North Africa.
According to LinkedIn, to mitigate turnover problems, improve retention, and attract more talent, companies need to arm themselves with insights.
“Once you have the data to anticipate turnover, you can act to retain key employees and recruit new ones way ahead of time. It’s the difference between constantly reacting and proactively planning”.
At LinkedIn, for instance, it was found that something as simple as a few conversations could have a major impact on retention rates. By encouraging managers to have more career-focused conversations with employees, attrition rates for those engineers plummeted to 5.5%.
Similarly, when leaders at Nielsen analysed their retention data, they saw that employees who made lateral career moves within the company tended to stay much longer. In fact, they found that moving employees laterally was nearly as effective as giving them a promotion.