UAE employers are set to face a wave of resignations as professionals holding leadership roles plan to make career changes in 2023, according to a new survey by Bupa Global 2022 Executive Wellbeing Index.
Changes include relocating to a new job or retiring from existing roles, the report said.
According to the report, employees are also looking to stop working completely in order to improve their mental health and focus more spending time with their loved ones.
Over 53 percent of the nation’s top-level executives said that are reassessing their priorities by reducing work hours, or by leaving their current employer.
“Over the next year, the ‘rethinking of priorities’ will see one of the biggest waves of resignations and changes globally and locally — as some of the UAE’s top executives leave their jobs, become consultants, go part-time, retire or stop working completely,” Bupa said in a statement.
This will create “seismic shifts in the local labour market at the highest level” at a time of ongoing global economic uncertainty, Bupa said.
Nine in 10 (94 percent) of top UAE executives have experienced symptoms of poor mental health over the last 12 months, the report said.
At least 20 percent of top executives have experienced burnout, while 24 percent reported having “feelings of sadness and anxiety categorised as low mood”. Moreover, 22 percent of top executives cited lack of energy, whereas 20 percent have also experienced feelings of anger, mood swings and burnout.
Executives are also stressed out about “daily worries”, including personal financial stability (26 percent), family stress (23 percent) and changes in Covid-19 management policies (22 percent).
The report also showed that many companies encourage a hybrid work style, especially as 51 percent of executives believe that working from home improves the productivity of individuals, and 49 percent of them agree that remote work has created a better lifestyle for employees.
However, a recent LinkedIn study showed that the amount of remote job postings on the platform are falling due to the current economic situation.
According to the study, 68 percent of executives surveyed were concerned that the ongoing economic uncertainty and recession would force their companies to undo at least some of the progress made toward flexible working during the Covid-19 pandemic.
The study showed that 74 percent of executives said skills development may have to take a backseat, while 75 percent said employee wellbeing would likely be less of a priority.
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