Deloitte CEO Sammy Onyango says this is going to force private and public firms to employ new strategies of managing and retaining their staff.
He emphasised on the need for company executives to boost their relationship with their employees to not only understand their personal needs but also their requirements for higher productivity.
“Kenya is taking more of a preferred place for business in Africa, over and above South Africa. Therefore if you take things for granted, these multinationals will offer better salaries, offer better terms and environment and you lose your people and it’s actually very costly to replace them,” Onyango said.
He was speaking on Thursday during the launch the second edition of the Best Company to Work For (BCTWF) survey which seeks to give insights into the changing workplace dynamics affecting employees and employers.
While traditional factors such as remuneration and work life balance remain important, data from previous surveys shows a definite shift in what employees really value.
Talent and employee satisfaction strategies, he said, remain highly relevant and key to any organisation to stay competitive and attractive to top talent in the future.
“Without enough understanding about your employees expectations and what balance to strike, whatever other talent management programme you have in place might not actually be effective. You will keep losing your staff every now and then to you competitors,” he said.
Among the dimensions looked at by the survey include the sense of confidence in the survey, the working relationship with manager, overall job satisfaction, sense of inclusion, operational effectiveness, ethics and integrity among others.
The survey is expected to conclude in July this year and results released in October.
From the 2012 survey, a sense of confidence, ethics and integrity and operation effectiveness were the most valued dimensions by employees. The survey also indicated that the biggest gap between employees and employer views was in remuneration followed by ethics and integrity.
It also revealed that satisfaction levels tended to rise with the employee’s rank in the organisation and while newer employees tended to rate the organisation higher.
In 2012, East Africa Breweries Limited (EABL) emerged the best company to work for followed by Kenya Women Finance Trust (KWFT).
The survey has been conducted annually by Deloitte in South Africa since 2000.