Latest news with #MercerMarshBenefits
The National
4 days ago
- Business
- The National
Why retirement planning needs to go beyond gratuity
For decades, retirement planning was a conversation that began elsewhere. In the UAE, a globally mobile population meant many expatriates viewed their time here as a chapter, not a destination. The end-of-service benefit was a buffer, not a strategy. But this narrative is shifting – and rapidly. Today, more expatriates are choosing to put down roots in the UAE. As life expectancy increases, many professionals are building longer, more permanent careers in the Gulf. Meanwhile, policymakers and businesses alike are reimagining how to support residents who wish to retire in the country they now call home. The traditional gratuity-based EOSB, while important, was never designed to provide long-term financial security. A basic EOSB – capped at two years' basic salary – falls far short of the 12-times annual salary rule-of-thumb required for a secure retirement. And yet, for most expatriates, it remains the only formal structure supporting their post-career lives, without pursuing other financial alternatives. The Mercer Marsh Benefits 2025 Health on Demand report reveals that more than half (53 per cent) of employees in the UAE are extremely or very concerned about their financial ability to retire. At the same time, 81 per cent said they would be happy if their employer helped them start planning for health and care needs in retirement. The desire is clear. So is the gap. Encouragingly, governments across the region are taking notice. In the UAE, frameworks such as the Dubai International Financial Centre's Employee Workplace Savings scheme and the Ministry of Human Resources and Emiratisation's alternative EOSB system reflect a growing commitment to financial resilience and retirement adequacy. These schemes introduce elements of portability, transparency and long-term planning that the current EOSB system lacks. But policy alone cannot shift outcomes. Businesses must also adapt − starting with how they design and deliver employee benefits. Flexible contribution schemes Retirement provision is emerging as a key opportunity for both employers and employees – and also a strategic lever to differentiate and retain talent. In the face of cost-of-living pressures, financial stress is becoming a more common side effect of everyday life – and stress has business consequences. Productivity, engagement and retention can be impacted when employees are financially insecure. So, what can employers do? A starting point is to broaden the conversation around retirement beyond EOSB. Flexible contribution schemes – such as defined contribution plans – can align benefits with modern career trajectories. These allow for both employer and employee contributions, potentially including voluntary top-ups, and provide more transparency and control for workers. Removing the open-ended EOSB liability going forward would also de-risk unfunded obligations and improve cash outflow management for businesses. Equally important is education. Financial literacy programmes, savings tools and retirement planning resources empower employees to make informed choices. This is especially critical for younger professionals, who are increasingly evaluating employers based on their ability to support long-term well-being – not just salaries. About 81 per cent of employees in the Middle East would be less likely to leave their employer if retirement support was part of their benefits package, according to the Mercer Global Talent Trends 2025 report. And 43 per cent said it would increase their sense of commitment to the organisation. Time for a regional model The Gulf, with its long-term outlook to policy and societal development, is well-placed to lead in the retirement space. Governments are investing in future-ready infrastructure and diversifying economies at speed. As more professionals stay longer, the region has an opportunity to model a new approach to expatriate retirement – one that combines the dynamism of the private sector with the stability of long-term savings. By building tailored models that reflect this changing demographic, organisations can offer much more than just employment. They can offer security. As chief executives and business leaders, we have an opportunity to support our greatest assets. By investing in smart, flexible and future-focused benefits, we can support our people more meaningfully, compete for top talent globally and strengthen the economic fabric of the UAE for generations to come.
Hans India
26-06-2025
- Health
- Hans India
Over 90 pc Indian employees confident about affording healthcare needs: Report
New Delhi: More than 90 per cent of employees in India are confident that they can afford the healthcare needs for themselves and their families, according to a report on Thursday. The Mercer Marsh Benefits report, based on a survey of over 18,000 employees across 17 markets, including in India, explores what employees value most from their workplace benefits, and how their expectations are evolving. The findings showed that for Indian employees there are high levels of well-being and satisfaction. The report also highlights growing expectations around flexibility, personalisation, and long-term support, indicating a broader evolution in the Indian workforce – one that is becoming more rooted in long-term ambitions. While the report showed that although 92 per cent of employees are confident about affording healthcare needs, the top two reasons for delaying healthcare are financial and anticipated long wait times. This suggests that even with insurance coverage, out-of-pocket costs, and other financial considerations are still preventing some employees from getting the care they need. Further, the report showed that employers have emerged as the most trusted source of affordable, quality healthcare. It showed that more than 80 per cent of employees who could personalise their benefits packages felt their employer cared about their health and well-being. For employers, this presents a timely opportunity to outpace their competition by adapting their benefits strategy and building affordable coverage by focusing on preventive care and early detection to primary care, through outpatient provisions (OPD), said the report. "Our report provides a strategic blueprint for employers. Specifically for India, it is the growing emphasis on longevity and planning for the future. As life expectancy increases and careers extend, employers have a profound opportunity to build trust and commitment by prioritising benefits that support long-term health planning and financial well-being, ensuring their workforce thrives not just today, but well into retirement," said Sanjay Kedia, Chief Executive Officer, Marsh McLennan India President and CEO, Marsh India. The report also suggested employers bolster quality and timely healthcare by exploring innovative care delivery models, such as telemedicine and partnerships with local healthcare providers.
Khaleej Times
28-05-2025
- Business
- Khaleej Times
UAE jobs: 85% of employees feel physically, mentally well at work, survey says
The majority of the UAE employees feel well mentally and physically as their employers promote a healthy work-life balance and they're thriving in their current roles, according to a new survey released by Mercer Marsh Benefits. Approximately 85 per cent of employees feel physically and mentally well, while 64 per cent believe their employer actively promotes a healthy work-life balance, and 58 per cent feel that their organisation genuinely cares about their health and well-being, said the 2025 Health on Demand report published on Wednesday. Over two-thirds — 68 per cent — of UAE employees indicate that they are thriving in their current roles. Furthermore, 79 per cent of employees express confidence in their ability to afford the healthcare they and their families may need. "Employees in the UAE are not only reporting high levels of well-being but are also expressing a clear desire for more personalised and flexible workplace benefits. While employees feel physically and mentally well, there are gaps in support. This presents an opportunity for employers to align their benefits strategies with the evolving expectations of a diverse, multigenerational workforce,' said Adel Alderi, Senior Consultant at Mercer Marsh Benefits, UAE. However, more than a third — 37 per cent — of employees said they face delayed medical treatment due to financial concerns while 24 per cent of employees postponed care, believing the issue would resolve itself. Importantly, nearly half — 48 per cent — of UAE employees revealed that they feel stressed most days at work. At the same time, over half — 58 per cent — said they were actively looking for a new job (above the global average of 45%), reinforcing the link between mental health pressures and retention risks. Employer-provided mental health support remains limited with just 30 per cent of UAE employees saying they have access to insurance that reduces the cost of mental health treatment. Only 29 per cent report that they can access training to help them recognise and manage mental health challenges. Personal benefits Nearly 6 out of 10 — 62 per cent — of UAE employees have expressed a preference for more personalised benefits packages as expectations for flexible and responsive offerings continue to grow. Half of the employees surveyed in the UAE say flexible schedules — such as compressed workweeks — would be helpful, though only 33 per cent currently receive them. The same proportion — 49 per cent — see flexible retirement options as important, but just 26 per cent say these are available through their current employer. UAE employees also expressed strong interest in proactive, preventive, and tiered benefit options. Some 81 per cent would be happy if their employer helped them plan for long-term health and care needs. Another 80 per cent would welcome financial incentives for engaging in preventive care, while 76 per cent would appreciate the ability to pay more for enhanced or additional coverage. The Mercer Marsh Benefits survey covered over 18,000 employees across 17 markets, including the UAE, about their health and well-being priorities.
Yahoo
24-05-2025
- Business
- Yahoo
These are the benefits that employees actually want—and the number one spot is the same for every generation
Good morning! Managing employees across a four-generation workforce is no easy task, and doing so forces HR leaders to create policies for people with vastly different priorities and perspectives. But when it comes to benefits, a study found that people of all ages agree on what they value most: flexibility. Alternative work schedules, like four-day work weeks, ranked number one on the list of most important benefits by every generation, according to a new study from Mercer Marsh Benefits, a benefits consultancy, which surveyed 18,384 employees. Millennials prioritized flexible work the most (53%), followed by Gen Z (48%), Gen X (47%), and Boomers (43%). And while 49% of workers said that flexible work would be helpful to them or their families, only 32% of employees say their companies allow them to adjust the hours or days they work. That means regardless of age, all workers want the autonomy to manage their day-to-day activities This isn't all too surprising, as many organizations have been attempting to get people back into the office over the past few years. And some are even choosing to implement hard-line return-to-office mandates. But alternative work schedules also makes it easier for employees to take advantage of the other benefits a company offers, the study points out. This includes the ability to take time off to go to medical appointments or therapy. The second highest-ranking benefit remains the same for three out of the four generations. Gen Z, Millennials, and Gen X all want the ability to work remotely. Boomers, not surprisingly, ranked flexible options in terms of retirement as their second most valued benefit option. That includes the ability to gradually work fewer hours, modify their job responsibilities, and designate time to transfer knowledge to other generations. From there, benefit priorities vary a bit across age groups. Younger workers like Gen Z want mental health screenings and coverage for doctor visits, Millennials want upskilling opportunities, Gen X is looking towards retirement, and Boomers are focused on preventative care like cancer screenings. So while it may seem difficult for HR leaders to figure out how to tailor their benefits across generations, it's helpful to remember that the need for work-life balance isn't going anywhere, and that allowing employees a little bit of autonomy over how they run their lives can go a long way. Brit CHRO Daily is off Monday, May 26 for the Memorial Day holiday. We'll be back in your inboxes Tuesday, May 27. This story was originally featured on Sign in to access your portfolio
