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What are Employee Benefits?
Employee benefits are perks that are given to employees in addition to their salary. These benefits can include health insurance, dental insurance, vision insurance, and more. Some companies also offer paid time off, sick days, and vacation days as part of their employee benefits package. Employee benefits help to attract and retain good employees. They also help to improve employee morale and motivation.
Why companies in UAE offer employee benefits?
There are many reasons why companies in United Arab Emirates offer employee benefits.
One reason is to attract and retain employees. Employee benefits can make a job more attractive, and can also help keep employees happy and engaged in their work.
Another reason is to improve employee productivity. When employees are healthy and have access to resources that help them manage their work-life balance, they are more likely to be productive.
Finally, offering employee benefits is simply good business practice. It shows that companies care about their employees and are willing to invest in their well-being. This can improve morale and create a more positive work environment.
Overall, there are many reasons why companies in the United Arab Emirates offer employee benefits. By doing so, they are able to attract and retain employees, improve productivity, and create a more positive work environment.
What are the top employee benefits offered in UAE?
There are a number of top employee benefits that are offered in the United Arab Emirates. These include:
– Health Insurance: All employees in the UAE are entitled to health insurance, which covers both inpatient and outpatient treatment. There are a number of top-rated health insurance providers in the country, so employees can choose the one that best suits their needs.
– Housing allowance: Many companies in the UAE offer their employees a housing allowance, which helps to cover the cost of accommodation. This can be a significant benefit, particularly in a country where rents are relatively high.
– Education allowance: Another popular employee benefit in the UAE is an education allowance. This can help to cover the cost of school fees for employees’ children.
– Transport allowance: Many companies in the UAE also offer their employees a transport allowance, which can help to cover the cost of transportation to and from work. This is particularly useful in a country where public transport is not always reliable.
– Leave entitlement: Employees in the UAE are entitled to a certain amount of paid leave each year, which can be used for personal travel or leisure. Leave entitlements vary from company to company, but typically range from 30 to 45 days per year.
– End-of-service benefits: When an employee leaves a company in the UAE, they are entitled to end-of-service benefits. These benefits are calculated based on the length of time an employee has been with the company, and can include a lump sum payment and/or annual leave entitlement.
Top employee benefits providers in UAE
Topaz Benefits & Insurance Brokers is one of the leading providers of employee benefits in the UAE. They offer a wide range of products and services, including health insurance, life insurance, and retirement plans.
MetLife is one of the largest employee benefits providers in the United Arab Emirates. The company offers a wide range of employee benefits, including health insurance, life insurance, and retirement planning. MetLife has a network of over 1,500 hospitals and clinics across the UAE, and offers 24/7 access to its online portal.
Cost of Employee benefits program in UAE
The cost of an Employee benefits will vary depending on the provider, the size of the company, and the services offered.
However, in the United Arab Emirates, the average cost for a benefits program is about $2,500 per employee per year. This includes health insurance, life insurance, and retirement savings plans. It is important to note that these costs can vary depending on the specific benefits offered and the number of employees enrolled in the program.
MantraCare is one of the most cost-effective employee benefits provider with plans starting at $3 per employee.