Growing businesses in UAE have lots to juggle. This includes satisfying the demand of customers, ramping up production, recruiting and training employees, and remaining fully compliant with the country’s complex regulatory environment. It is especially hard for a business to manage, most especially when it is experiencing steady growth. Rather than maintaining and building expertise inhouse, some businesses opt for outsourcing benefits administration for employees to outside specialists. Through outsourcing a company’s HR functions, employers are able to help keep down costs and at the same time ensure legal compliance.
So, what HR functions should a business outsource to third party service providers? HR outsourcing in UAE offers businesses a lot of possibilities! When considering the functions that you want outsourced specialists to handle for you, we suggest you think about benefits that will differentiate the business from its competition. What you want is for your HR outsourcing in the UAE to help in amplifying your company’s goals and values. Research workforce trends that are currently gaining traction. The traditional benefits such as life and health insurance are necessary, albeit expected. Other voluntary benefits are going to distinguish your business and will serve as your staff members’ inspiration.
Why UAE Businesses Outsource Their Benefits Administration
Through outsourcing benefits administration in UAE, a company’s HR department will have time in developing talent, supporting business goals, fostering a meaningful work culture, and more. When you relegate HR to administrative tasks which are recurring, you may be saving money upfront but it can quickly become a lot more costly down the line.
Small to medium size enterprises in the country aren’t hindered anymore by their size. Utilizing outsourced benefits administration in UAE to secure benefits will open doors for employers to advantages that used to be limited to established multinational corporations.
It is impossible for a single person to have in-depth expertise in all aspects of Human resources. Employees that you’re retaining will welcome the fact that they are working with specialists that fully understand the intricacies of industry changes, new and existing products, company processes, regulatory implications, and recommendations during emergencies or crises like the coronavirus (COVID-19) pandemic. Through proper dissemination of information regarding the full value of benefits programs sponsored by the company, third party benefits administrators can enhance the experience of employees with recommendations and insights.
Improved Company Workforce
Outsourcing benefits administration to third parties can result in improvement in the company workforce. As most job seekers are on the lookout for opportunities that don’t just pay enough, but also provide an extensive list of benefits, companies report losing most of their top talent. This is due to the fact that they are not able to compete with other businesses. In a survey, twenty two percent of SMEs in UAE reported losing talent as they can’t match the benefits and compensation package of competitors. With an outsourced benefits administration in UAE, it is possible for your business to offer a lot more attractive packages including training opportunities and various insurances.
Outsourced HR services in UAE streamlines the whole recruitment process as well. A business gets assistance in developing a more efficient and effective hiring process. It gets the assurance that every single aspect of the recruitment is designed in attracting nothing but the best professionals, starting from the job description up to the final interview process. There are service providers that can even provide assistance in the management of a hiring’s early stages, so a business does not have to be involved with the tedious process of sorting through a pool of applicants. It’ll only be asked to participate when the pool of prospects has already been whittled down onto the candidates that showed the most promise.
As soon as new employees are hired, the service provider can also provide assistance with the process of onboarding. When a business has already defined the onboarding process, staff members are likely to assimilate to the company’s culture more successfully. It will be a huge help for people in hitting the ground running. This will also contribute to a much lower turnover rate. As soon as staff members have been established into their new positions, a third-party service provider can provide assistance in the monitoring of the employees’ performance. This essentially means more free time for company administration and objective insights.
Assured Regulatory Compliance
Ensuring compliance is among the major functions of an outsourced team of HR specialists. Ensuring compliance, most especially for businesses in UAE, can be a complex and multifaceted job. Wage and employment regulations keep on changing. Companies are to adhere not only to local laws but federal regulations as well. That is not even taking into consideration the fact that companies will be fined when they violate labor laws.
Outsourcing benefits administration in UAE only brings forth advantages to a company. If you want to know more, call us here in FAR Consulting Middle East!