GCC Talent at Risk: 80% of Employees Consider Job Changes Due to Benefits Gaps

Dubai, UAE – October 22, 2024: Employee benefits are vital for talent retention in the GCC, yet gaps persist. Research shows over 90% of GCC employees view benefits as key to job satisfaction, but many feel unmet.

The 2024 Future of Work report by Zurich International Life and Radius Insights shows only 38% of UAE employees feel heard on benefits. Meanwhile, 68% are actively looking for new jobs, showing a clear misalignment.

The survey, with 2,000 employees and 2,000 employers in the UAE, KSA, Qatar, and Bahrain, highlights a growing demand for custom benefits. Over 60% of respondents see personalized packages as crucial. An overwhelming 95% believe traditional models are outdated.

In Saudi Arabia, 38% of employees aged 25-55 need child allowances, but few companies offer this. In the UAE, 31% of workers seek workplace savings plans for financial security. In addition, 80% of employers consider life and illness insurance essential, aligning with 85% of employees who value these protections.

“The shift in work dynamics means traditional benefits no longer suffice. Employees want personalized packages that meet their needs,” said Ashika Tailor, Zurich Middle East‘s Head of Business Development for Employee Benefits.

The Customization Gap

Despite widespread agreement on the importance of benefits—96% in the UAE and 95% in KSA—gaps remain. Six out of 10 UAE employees feel their needs aren’t addressed. Only 18% intend to stay with their current employer, stressing the urgency of change.

The report shows benefits have evolved from a “nice-to-have” to a must-have for job satisfaction. Over 60% of UAE employees want custom benefits, signaling a need for flexible packages.

Customization is essential for women in the UAE, with 35% prioritizing workplace savings, and Asian workers wanting flexible compensation. In Qatar, 22% of women prefer better maternity and paternity benefits.

Top benefits in the UAE include child education allowances, savings plans, and insurance. However, many employees feel their needs are still unmet.

• 
  Emirates Properties launches Dh350 million Azha Millennium Residences as Dubai’s branded home supply grows
• 
  An Elevated Morning Ritual: ME by Meliá Dubai Curates a One-Day Breakfast Experience
• 
  Yango Group upgrades its AI assistant Yasmina for enhanced creativity, richer conversations, and expanded language translation skills
• 
  Whish Money Launches on Shopify, Leading the Region’s First Cardless Checkout
• 
  peaq and Pulsar launch Machine Economy Free Zone for the United Arab Emirates
• 
  Deyaar unveils Downtown Residences in Dubai, one of the world’s tallest vertical residential communities 

Challenges in Retaining Young Employees

Young talent retention is a challenge, with over half of UAE workers aged 18-24 considering new jobs. Many seek savings plans and career development. About 30% feel overlooked due to lack of experience. Six in 10 are not worried about AI, instead seeing potential in upskilling.

“Young employees seek financial and career growth. Employers need to bridge benefit gaps and follow trends like AI-driven learning,” Tailor said.

Aligning Corporate Values

Values alignment is crucial for workers, with 58% of UAE employees wanting companies to focus on sustainability and DEI. The focus is stronger among women in the UAE and KSA, who value corporate responsibility more than ever.

The fourth edition of the Future of Work report stresses that companies prioritizing customized benefits, career growth, and value alignment will better attract and retain top talent.