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80% of Real Estate & Infrastructure Organizations Plan To Reward High-Performing Employees Despite Slowdown

80% of Real Estate & Infrastructure Organizations Plan To Reward High-Performing Employees Despite Slowdown - Real Estate - Property - UAE - Dubai - Hewitt Associates

Hewitt Associates announces results of its Real Estate and Infrastructure Economic Climate survey 2009 in the UAE

Hewitt Associates, a global human resources consulting firm announced the key findings from its Real Estate and Infrastructure Economic Climate Survey 2009.  Retaining high-performing employees ranks highest among the Real Estate & Infrastructure sector companies in the UAE region 

The survey highlights that 80% of the organizations plan to retain and reward high performing employees by reserving a portion of salary increase for highest performers.

This report highlighted that most of the organizations (71%) have not increased the overall budget. For majority of the organizations, the reason for this is overall cost reductions. However, in some organizations, concerns about the broader economy and restructuring of business are some of the other reported reasons.

The current economic scenario has impacted variable compensation payouts for majority of the organizations. Most organizations have frozen certain benefits, redesigned their incentive programs, and implemented a voluntary separation scheme to beat the current challenge.

Most organizations also ensured communication of key issues to employees in the current economic scenario. Most frequent issues communicated are the financial health of the organization and the budget allocation for the new fiscal year.

Other key measures being undertaken by real estate & infrastructure companies are - providing additional learning and development opportunities, creating supplemental & discretionary incentive pool and granting discretionary stock options to high-performing employees,.

Speaking about the report Andy Heath, Real Estate & Infrastructure Industry Leader, Hewitt Middle East, commented: "In the current economic scenario, when employees are unsure about their future, organizations are increasingly focusing on retention of key talent to prevent them from moving to competition. Clearly, the retention of key talent will be critical for the organizations in their quest to tide over the current state of downturn " 

Interestingly, the trends show that the overall voluntary attrition rates across the organizations were very similar to the involuntary attrition rate. The overall voluntary attrition rates ranged between 11.7% and 13%, while the overall involuntary attrition rate was reported as 10% to 13.2%.


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