New Report Reveals Growing Dissatisfaction Among Employees, Highlighting the Need for Tailored Benefits to Enhance Retention and Job Satisfaction.
Pavitra Shetty
Published on October 23, 2024, 15:05:30
A recent report reveals that six out of ten workers in the UAE feel that their employers are not adequately addressing their needs, prompting calls for more personalized employee benefits. The Future of Work 2024 report, commissioned by Zurich International Life, highlights that the traditional "one-size-fits-all" approach to benefits is no longer sufficient for retaining talent in today's workforce.
According to the report, 90% of employees stated that workplace benefits are crucial to their overall happiness, while 63% expressed a desire for more customized packages. Workers are seeking benefits tailored to their specific circumstances, with many voicing dissatisfaction with irrelevant perks. For example, an employee may receive children's education benefits when they have no children, highlighting a gap between what is offered and what is actually needed.
The survey, which gathered responses from 2,000 employees and 2,000 employers across the UAE, Saudi Arabia, Qatar, and Bahrain, found that 68% of employees are actively considering changing jobs due to dissatisfaction with their current benefits. This suggests that flexibility in work arrangements and compensation packages plays a vital role in employee retention.
Among the most sought-after benefits in the UAE are child education allowances, workplace savings plans, and life and critical illness insurance. These were identified as the top three benefits that employees feel are currently lacking. The report underscores the growing gap between what employees want and what companies are providing.
During a panel discussion, it was noted that some companies are going above and beyond to meet employee expectations. For instance, one organization offered female employees the option to freeze their eggs, while another provided DNA testing to assess susceptibility to diseases such as cancer. These personalized benefits were well-received, reflecting the need for companies to think creatively when designing benefits packages.
The diversification of work and evolving employee expectations mean that traditional benefits packages are no longer adequate. Companies are being urged to engage proactively with their workforce to co-create benefits that enhance long-term satisfaction and loyalty.
The report also emphasizes the importance of well-being and empowerment in the workplace. Nearly 70% of employees indicated that well-being programs have a direct impact on their job satisfaction, with a focus on both physical and mental health support. Comprehensive wellness programs that address mental well-being are becoming increasingly important for today's workforce.
As talent shortages continue to challenge employers in the UAE and Saudi Arabia, with one in three companies citing it as a key issue, the report suggests that to retain talent, companies must prioritize making employees feel valued through personalized and thoughtful benefits packages.
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