Expats make up 90% of the UAE workforce in the private sector and a recent Government report has encouraged employers to hold onto them or risk problems.
According to the most recent Labour Report released by the UAE Ministry of Labour, about 3,113,000 foreign workers are employed by 260,000 firms with a turnover rate of 21 percent.
A recent study also revealed that the average monthly salary in the UAE is Dhs10,120 and the average length of time holding a job in the UAE is 4.7 years. Using these figures, Zed Ayesh, managing director, Flagship Consultancy, said this equated to a $2.7 billion cost to business every year in lost staff.
He said: "Employee turnover has always been one of the invisible enemies of business in any growing economy."Ayesh added: "Mobility of skilled professionals remains a challenge to UAE businesses.
This is costing businesses a substantial deal of wasted resources. Regional companies are losing significant revenue opportunities because the majority of the departing professionals own unique expertise and knowledge and they are being head-hunted by direct competitors to their incumbent companies."