The UAE has shown a greater connection between employee benefits and engagement more than any other country, according to a global MetLife survey.

The first ‘UAE Employee Benefit Trends Study,’ conducted by leading insurance company MetLife, covered employer and employee perspectives and highlighted the value of benefits in attracting - and especially in retaining employees.

About 39 per cent of employees and 44 per cent of managers are hoping to move jobs in the next 12 months, it said.

Nearly 40 per cent of employers surveyed in the UAE are anticipating a near-term talent shortage, according to the study.

In the UAE, increasing healthcare costs, legislation, chronic illness and stress are all driving health and wellness up the benefits agenda.

The five of the top 10 causes of employee financial stress have a health dimension. More than one-third of employees now feel distracted at work due to financial worries; costs associated with illness and the need for appropriate health coverage top the list of employee concerns, it said.

The offering of benefits and wellbeing programmes and communicating how employees can address financial, physical, and emotional wellbeing, is a major weapon for any employer looking to win the war for talent.

The MetLife survey examined the UAE’s rapidly changing and increasingly competitive employment market, in which employee benefits such as health insurance play a vital role in achieving business outcomes by reducing employee stress related to financial security and health worries, and enhancing employee productivity and loyalty/retention, through higher levels of engagement.

Maria Morris, executive vice president and head of Global Employee Benefits, MetLife, said: “The UAE is one of the most dynamic marketplaces we have had the privilege of researching as part of our global employee benefit trends study.

“As the hub of regional operations for many multinational companies, we wanted to understand the impact of employee benefits on key issues such as cost containment, health and wellness, talent recruitment and retention. What we found is that, unlike some other countries we have researched, the UAE market is distinct. We believe that the findings of the report will be of strong interest to the insurance industry, employers and employees.”

Chafic Houry, employee benefits director for MetLife in the Gulf, said: “In the UAE, even more so than other markets we have studied, benefits have a clear connection with employee engagement. The majority of employees (55 per cent) say they place a high value on the benefits they get from their employer, and this holds true across all age groups, and company types and sizes.

“More importantly, a deeper analysis determined that people who said they highly valued their benefits were more likely to say they were satisfied and energized by their work.”

MetLife provides data and best practices from around the world to help employers enrich their benefit plans and retain top talent.

MetLife undertakes the Employee Benefit Trends Study annually and included the UAE in the survey for the first time this year. The UAE survey sample consisted of 600 respondents split equally across employers and employees in the private sector. - TradeArabia News Service