GCC Workers Eye Job Switch Over Benefits Gap: Zurich Report Shows Why

DUBAI – October 25, 2024: Thinking about jumping ship for a better benefits package? You’re not alone. According to Zurich International Life’s latest Future of Work report, a massive 8 in 10 employees across the GCC are open to new job offers – and lackluster benefits are one big reason why.

The report, which pulled data from 4,000 workers and employers across the UAE, Saudi Arabia, Qatar, and Bahrain, highlights a major disconnect. While over 90% of employees say benefits are key to job satisfaction, less than half feel they’re getting what they need. In the UAE, it’s even more intense – 68% of employees are actively on the lookout for new roles, calling out the gap between what they want and what’s on offer.

What Employees Really Want One-size-fits-all? Not cutting it anymore. Over 60% of GCC employees are asking for benefits that actually fit their lives. UAE employees want child education allowances and workplace savings plans, while those in Saudi Arabia are calling for family support like child allowances – perks that most employers haven’t yet included.

Listening to employees has never been more crucial,” says Ashika Tailor, Head of Business Development for Employee Benefits at Zurich Middle East. “It’s time for companies to get real about what benefits matter and build packages that keep their talent onboard.

GCC Companies Agree, But Action is Missing Here’s the twist: employers get it – 96% in the UAE and 95% in Saudi Arabia know solid benefits packages are essential. Yet 6 out of 10 UAE employees still feel their needs aren’t being met, and only 18% think they’ll stay long-term.

More Than Benefits – It’s About Values It’s not just about the money. More than half of UAE employees want to work for companies that align with their values, prioritising sustainability and Diversity, Equity, and Inclusion (DEI). This is especially important to women in the UAE and Saudi Arabia, who want to see their employers back these initiatives.

Gen Z Wants More Than a Paycheck For young talent, the benefits gap is even more obvious. In the UAE, over half of employees aged 18-24 would leave for better perks and career growth. They’re all about finding companies that support future-focused growth, including AI-driven upskilling.

Zurich’s report sends a loud message: companies that meet employee benefits needs, offer real growth, and stay in sync with their team’s values will be the ones to succeed in the competitive GCC talent market.