RIYADH, 30 October 2005 — In an attempt to stem the hemorrhaging of qualified and experienced Saudi staff, some major organizations have introduced innovative measures as part of their strategy to retain employees.
The strategies now in place at these organizations not only help them retain their Saudi manpower on a long-term basis but also draw upon their strength and resources to further penetrate the market.
Speaking to Arab News, Dr. Ghassan Al-Shibl, president & CEO of Advanced Electronics Co. (AEC), explained how their Saudi employees now qualify for promotions and other incentives once they put in at least five years with the company, which manufactures sophisticated military and commercial electronic devices.
He said AEC has launched a home loan program under which Saudi employees who have completed five years of service with the company become eligible to receive 20 percent payback of the housing loan for which they had applied. The company refunds 20 percent of the amount that the employee had originally paid toward his housing loan.
Dr. Ghassan said another scheme introduced last year allows their employees to tender suggestions for the benefit of their organization. The suggestion is evaluated and if found commercially feasible, it entitles the employee to receive a monetary reward. Four such cash grants have already been given, the CEO said.
A similar scheme comes from Saudi Basic Industries Corporation (SABIC), details of which have been published in the latest issue of SABIC magazine. According to Mohammad Al-Bathi, secretary of Leadership Development Council and vice president of Corporate Human Resources, when an employee begins his fourth year at SABIC, he becomes eligible for nomination to the High Potential Program there.
He said the aim of this program is to identify potential leaders as early as possible in their careers. “We use more than one measurement period to allow the so-called ‘late bloomers’, who do not appear on the radar initially.”
The method also encourages motivated people to enhance their potential and competencies sufficiently to qualify as high potential candidates in later assessments. Such candidates could look forward to advancements in their career path.
In another instance, a major Saudi bank has launched a “My Idea” competition for cost savings. A Saudi woman employee won a cash prize for her suggestion that helped reduce the use printing papers in the bank’s collection department by switching over to the electronic system.
