November 23, 2022
  • November 23, 2022
  • Home
  • Life insurance
  • Life insurance, company car and flexible working are the main benefits in 2022

Life insurance, company car and flexible working are the main benefits in 2022

By on February 1, 2022 0

Related – UAE salary guide 2022: how much should you earn?

About 48% of all employers in the United Arab Emirates and Saudi Arabia offer life insurance as part of a standard employment package, as business confidence and hiring activity return to d before the coronavirus in 2022, according to new research from recruitment consultancy Hays.

According to the Hays Salary Guide 2022, 47% of companies also offer a company car or car allowance, while 46% offer flexible working hours and 36% offer child-raising allowances to employees.

“There are a number of factors that influence the benefits available to employees here,” said Sarah Dixon, general manager of the Hays Gulf region.

We usually see child education allowances, for example, offered based on an applicant’s seniority level and usually provided to seniors, C-Suite level only

Sarah Dixon, Managing Director of Hays Gulf Region

“We typically see child-raising allowances, for example, offered based on a candidate’s seniority level and usually only provided at the upper level of the C-suite. Industry, company and position have also an impact and there are significant variations depending on the place of work.

The job market in the UAE will continue to recover in 2022. Salaries are expected to increase by an average of 3-5% depending on the sector, while bonuses will return this year, according to the Hays Salary Guide.

Around 73% of employers in the UAE expect salaries in their organizations to increase by up to 5% this year, up from 37% in 2021, the salary guide revealed.

Companies must offer a competitive benefits package to attract top talent, according to the Robert Half 2022 salary guide, released last year.

Some of the most common benefits UAE employers offer job seekers include flexible and remote work, airfare, an education allowance, and family visas.

However, since the outbreak of the Covid-19 pandemic, job candidates are increasingly demanding to work from home at least two days a week, as well as flexible hours and training opportunities, according to the report. Robert Half.

Meanwhile, child-raising allowances are a big ‘pull factor’ for professionals in the UAE when considering a new role, Hays Middle East’s Ms Dixon said in an earlier interview.

“With so many expats uprooting their families and moving to the region from their home countries for jobs, children’s school fees represent a significant portion of their income and candidates will favor an employer who offers to hire them. cover,” she said.

“It is a challenge for organizations as tuition fees are relatively expensive in the UAE and from our experiences, school allowances for children are usually only offered to higher level applicants. how they are offered – some employers pay an annual lump sum, while others cover up to two children, or are capped at a certain level of spending.

The most common benefit provided by employers in Saudi Arabia was a company car or car allowance, with 61% offering it to workers. This compares to 43% of businesses in the UAE that offer the same benefit, according to Hays.

Meanwhile, 53% of UAE organizations offer life insurance, compared to 30% in Saudi Arabia.

When it comes to flexible working, 49% of employers in the UAE offer it as part of a standard package, compared to 39% in Saudi Arabia, according to the Hays study.

About 37% of companies in the United Arab Emirates offer school allowances to children, compared to 32% of those in Saudi Arabia.

“Allowances for furniture, food and utilities were more common more than a decade ago, before the global financial crisis. At the same time, Gulf employees were often offered guaranteed bonuses,” said Ms Dixon of Hays.

Salary packages for employees in the Gulf are divided into three main components: the base salary, which generally represents 60-65% of the total salary; housing, which is about 25 to 30%; and flight compensation, which is about 10-20%, she said.

In the UAE, employers are also legally required to provide medical insurance and gratuity.

According to the Hays guide, education allowances, flexible working and incentives to share are considered the three most important benefits by employees when considering a new employer.

“In particular, flexible working has increased dramatically in the past two years following the pandemic and it is an offer that employers cannot afford to ignore in the future,” Ms Dixon said.

Updated: February 1, 2022, 7:39 a.m.