At a time when profit margins are under increasing pressure
and competition is intensifying, a high effectiveness profile offers
a valuable competitive advantage to those that can achieve it.
If you ask employees, the Gulf banking sector has a bright future ahead. Feedback from employee surveys shows a belief that the sector has a strong future and that employees are proud of their jobs and their status.
Banking staff in the Gulf Cooperation Council (GCC) countries tend to regard their employers as prestigious organisations to work for. They have a strong sense of engagement with their employers’ goals and are confident that they will achieve them.
The employer challenges around trust and brand, which have so impacted other markets, are reversed in the Gulf. There are fewer fears of over-regulation and the corporate scandals – from alleged money laundering to tax avoidance – which have damaged the reputation of banking in the west are few and far between. Here, banking remains one of the most respected sectors in the economy.
But it’s not all good news - despite being more engaged, the same feedback indicates that Gulf banking staff are less willing to go the extra mile for their employers when compared to those employees in banks outside the region.
Contradicting the perceived wisdom regarding the behaviour of an engaged workforce, this presents us with a conundrum.
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