People Magazine https://magazine.aqeed.com/people Thu, 30 May 2019 07:49:23 +0000 en-US hourly 1 https://wordpress.org/?v=5.0.7 Medical Insurance Claim: How does reimbursement work? https://magazine.aqeed.com/people/2019/05/30/medical-insurance-claim-how-reimbursement-work/ https://magazine.aqeed.com/people/2019/05/30/medical-insurance-claim-how-reimbursement-work/#respond Thu, 30 May 2019 07:49:19 +0000 https://magazine.aqeed.com/people/?p=764 Being able to make a medical insurance claim when we are sick means we don’t have to worry about the financial cost of treatment or services. Greater competition and UAE rules mean that the claims process for health insurance isn’t as complicated as you might think. Our six step guide takes you through everything you […]

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Being able to make a medical insurance claim when we are sick means we don’t have to worry about the financial cost of treatment or services.

Greater competition and UAE rules mean that the claims process for health insurance isn’t as complicated as you might think.

Our six step guide takes you through everything you need to do to get reimbursed within 5-7 working days, direct to your bank account.

When something goes wrong with our health, or the health of our loved ones, it can be terrifying. Without medical knowledge of our own, knowing what to do or how to fix it isn’t an option. We have to rely on others to help. That is why health insurance is so important. When our health is threatened, we can get vital help and make a medical insurance claim.

Isn’t the medical claims process confusing?

Health insurance allows us to get medical assistance with ailments, illnesses, and accidents. It gives us peace of mind that things can be fixed without creating financial issues. You can go and see the doctor, get a prescription, and visit a hospital, all covered by your health insurance. That means you can concentrate on getting better without worrying about money.

However, when it comes to the medical claims process of insurance, many of us think it might be confusing. We recall the extensive table of benefits in the policy and worry a reimbursement claim might be complicated. Luckily, this isn’t the case. The evolution of the insurance industry has created greater customer care than ever before. The top insurers focus on making their policies more accessible and flexible. They prioritize customer care and quality of service so they can be competitive to a demanding customer base. This means that you get a more reliable level of care, a larger area of coverage, and more assistance when needed.

To make sure you know exactly how medical claims processing works, we have put together a step-by-step guide. That way, you know exactly what to do and what to expect when you make a health insurance claim.

The step-by-step process to a reimbursement claim

Step One: Check your policy.

Before you head to the doctor or the clinic, make sure to check that they, and the service you need, are covered in your policy network. You will only be able to make a medical insurance claim for treatments, test, or services, included in your policy. Whether you need medical help locally or while abroad, try to check if it is covered before you go. You can do this either by the phone (there will be a number on your medical card) or online via the insurers’ website or app. If you don’t have a location in mind, they can advise you on the closest, most appropriate place. It shouldn’t take longer than a couple of minutes.

Step Two: Go to the doctor.

Make sure to get the help you need, as quickly as possible. Your health is the most important, of course!

Step Three: Document collection.

When you have received your medical care, you will need to gather all of the relevant documentation that your insurance company will need.

For every reimbursement claim, the insurer will require details of what was done or performed. The documents needed will depend on the appointment, in-patient, or out-patient.

In-patient appointments are those that need an overnight stay in a hospital or treatment center. Out-patient services cover everything that doesn’t require rest, such as doctor visits, tests, short treatments, etc.

For out-patient treatments, you will likely need copies of documents such as medical reports, prescriptions, lab tests details and results (ie, for an MRI) and the receipt for services.

For in-patient services, you will need copies of those documents as well as an exit report and discharge summary from the hospital.

Step Four: Submit your documents.

Once you have paid the fee and received your receipt, you need to submit this, with your documents, to your insurer. The more documentation you can provide, the smoother the medical claim process you will have.

Submitting your documents can be done two ways, in person or online. You can submit your paperwork in-person to your insurance broker, although this way might take a little longer. You can also submit your paperwork online through the insurer’s website or app. Uploading copies of your documents online will be the fastest method for reimbursement. Whether you have your policy or a group one from your employer, you deal directly with the insurer for privacy.

Step Five: Track your health insurance claim.

If you have made your reimbursement claim online, you will be able to track the process at every step. Your insurance company will also notify you if more documents are required to complete your claim. This is the part where they need to authenticate the documents so they can release your reimbursement payment.

They will also check to make sure the policy covered the treatment or service. If you did the process online, the average time it takes is 5-7 working days, a little longer if not online.

Step Six: Reimbursement.

Your health insurance company will arrange for you to be reimbursed for your medical insurance claim. You can request your preference for the method as well. They can either transfer the funds directly into your bank account, or they can issue a cheque for you to collect.

All in all, the process has been streamlined to be as simple as possible; it isn’t there to trip you up. The medical, and administrative, staff at the healthcare facilities are well versed in health insurance processes. They know that you will need documentation for reimbursement claims and they will help you gather what you need. The insurance companies are very familiar with the medical documentation for each treatment, so they are quick in their assessments. That way, you can focus on getting better or helping a loved one, not worrying about your bank account.

Health insurance claim reimbursement process proved to be quite smooth when all the paperwork is available and organized. However, things might get more complex when managing a group medical insurance. Aqeed People automates and simplifies your employee’s health insurance journey. It’s fully autonomous software gets you the best quotes from the top medical insurance companies in the UAE and manages your group health insurance policies renewals.

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Group health insurance: Let’s talk renewal https://magazine.aqeed.com/people/2019/04/28/group-health-insurance-lets-talk-renewal/ https://magazine.aqeed.com/people/2019/04/28/group-health-insurance-lets-talk-renewal/#respond Sun, 28 Apr 2019 06:57:02 +0000 https://magazine.aqeed.com/people/?p=760 For companies, getting the right group health insurance can make a massive difference to your employees. When employees feel supported, they are more loyal and more productive. Our four-step process for renewing your group health insurance policy could save you time, money and help keep your employees healthy. As the owner or HR manager of […]

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For companies, getting the right group health insurance can make a massive difference to your employees.

When employees feel supported, they are more loyal and more productive.

Our four-step process for renewing your group health insurance policy could save you time, money and help keep your employees healthy.

As the owner or HR manager of a company, managing your group health insurance needs can be tricky. You need to meet the needs of your employees and make the right financial decisions for your business. Juggling these potentially opposing priorities is vital to finding the right solution. The right solution will benefit your business, without compromising its financial wellbeing.

Why the type of group health insurance for employees matters

Retention

With global employment rates at lower levels, employee satisfaction is vital to retaining top talent (In order to make sure your company has the best, it needs to offer the best. Salary requirements are now considered on a part with the benefits you can provide to employees. 55% of employees said health insurance is the most important benefit for job satisfaction. In another recent study, 16% of employees said they had rejected or turned down a job because of benefits. This means that small businesses need to ensure their health and wellbeing benefits are appealing to stay competitive.

Productivity

Every study shows that happy, healthy employees are more productive. If employees feel supported and engaged, they are more dedicated. If they are healthy, they can work harder and take less sick days. Good group health insurance plans, with flexibility and extensive coverage, promote employee loyalty. A study from the Australian government found that with good health insurance plans, employee engagement increases from 7% to 55%. Engaged employees have, on average, a 22% higher productivity rate. So investing in your group health insurance plans could be incredibly financially rewarding for your company performance.

Costs

Group health insurance can be a significant cost for your organization; especially if you want to offer the best. However, investing in a group medical insurance plan (aka comprehensive group medical insurance plan) could save you more in the long run. If your employees can get medical assistance at the early stages, it will prevent more severe issues. If your plan doesn’t encourage employees to get the help they need, their medical problems could be lengthy. Long-term or regularly sick employees are costly to your productivity and your premiums. Keeping your employees as healthy as possible will be a worthwhile investment.

The steps of group health insurance renewal

So when it’s time to renew the group health insurance for your employees., you need to consider and undertake the following steps to get the best deal for your company.

Step One: Size

The size of your organization will have a significant impact on how your group insurance plan will be determined. For companies with less than 100 employees, you will be in the category of small group health insurance requirements. This means you will encounter fewer documentation obligations. However, you will also have less flexibility when it comes to negotiations regarding the policy attributes. For companies with over 100 employees, you will need to provide more information but will have more options available to tailor your policy including exclusions, coverage, and network.

Step Two: Documentation

At least two months before your renewal deadline you will need to start thinking about documentation. You need to have enough time to review potential options, and an expired policy will hurt your employees. You will need to gather a census list of your employees. Hopefully, you will have an existing HR software to do this in record time for you. For larger companies, you will also need to provide a claims report. This will detail the number of claims in your previous years of group medical insurance. High claims reports could impact your premiums.

Step Three: Evaluation

You next need to carefully examine your table of benefits currently provided by your group health insurance plan. What is the network offered? What health insurance benefits are covered or not covered? What are your premium costs? Does your current plan meet the needs of your employees? If your group health insurance plan isn’t providing enough support, you need to determine what elements need changing. What aspects could be improved? Can your current health insurance provider meet those needs? For instance, do your employees favor a particular hospital and are it covered by that provider?

Step Four: Comparison

You need to make sure you are getting the best deal for your company. Every company has different needs when it comes to their group health insurance plans. It may be that your current insurance provider isn’t able to offer you the best options, or the best price. By understanding your needs, you can search for the best deal. You could even consider using an HR software that could streamline your insurance needs even further with automation. You can find out more about how useful that could be at Aqeed People.

After you have completed these steps, you will be able to make vital decisions about your group health insurance policy. Finding the right fit for your organization will be an investment in the health of your employees and your bottom line. The right group health insurance will give your employees confidence in your company. It will help them feel supported and engaged. It will also provide you with peace of mind in knowing that everything is taken care of, no matter what happens. Make sure that you get the best out of your renewal of group health insurance, for the health of your whole company.

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Why diminishing payroll errors is crucial to your business success https://magazine.aqeed.com/people/2019/04/07/diminishing-payroll-errors-crucial-business-success/ https://magazine.aqeed.com/people/2019/04/07/diminishing-payroll-errors-crucial-business-success/#respond Sun, 07 Apr 2019 07:25:40 +0000 https://magazine.aqeed.com/people/?p=753 Payroll efficiency is vital to your business, mainly as it is most likely the most considerable expense within your organization, both in time and money. Payroll is held in such high regard by your employees it can drastically impact their productivity. The costs of payroll errors can be widespread including employee satisfaction, retention, and overall […]

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Payroll efficiency is vital to your business, mainly as it is most likely the most considerable expense within your organization, both in time and money.

Payroll is held in such high regard by your employees it can drastically impact their productivity.

The costs of payroll errors can be widespread including employee satisfaction, retention, and overall company performance.

By utilizing an HR software to make your payroll as efficient as it can be, the benefits to your business can be numerous, both in terms of performance and financial growth.

Why is payroll so important?

It might seem like a relatively straight forward element of running a business, but it really isn’t.Payroll or (payroll errors)  is probably your organization’s largest expense and often the most time-consuming task conducted by your HR team every month. Which means it not only costs you the salaries of the employees you have but the time your HR team takes to process it.

For most small businesses, your payroll and your benefits could account for (depending on your sector) 40-80% of your gross revenue. It involves the payment of employees, whether they are full-time or part-time, as well as freelancers or consultants.

Manual data processed payroll has to incorporate numerous factors, which increase exponentially depending on how many employees you have. Payroll also needs to conform to the legal obligations you have as an employer.

In Dubai, there are a variety of rules for private sector companies regarding employees. One particular aspect is the Wage Protection System in which employers can be penalized for late payments. Ensuring that you incorporate all the legal requirements, taxation implications and your company nuances are complicated. It is essential that it is handled correctly and efficiently for you to get the best results.

Your payroll affects your performance

It does. That is because it drastically affects your employees. Your employees are an essential part of your business; if they aren’t able to perform, your business suffers. If your employees aren’t happy or are stressed, they won’t perform as well as they should. There aren’t many factors that can make employees more stressed than payroll errors. Many employees would find themselves in financial difficulties after just one payroll errors. 78% of US workers surveyed in 2017 said they were living pay check to paycheck. If employees encounter payroll discrepancies or delays, it can be detrimental to their morale. Low morale will always lead to low productivity.

The cost of payroll mistakes

In the short-term, your biggest expense is likely to be productivity, but it can also drastically affect your retention. A recent survey found that 49% of employees would start looking for a new job after just two payroll errors. As your employees are so vital to your success, it is essential to avoid scenarios that cost them money.

Even though employees today consider many factors in job satisfaction, salary remains top overall. Also, fixing payroll mistakes, especially without the proper software, can be extremely time-consuming for your HR team. Great companies have HR functions that are free to work on important tasks, not get lost in spreadsheets. In Dubai, repeated payroll errors could also be financially costly if they contravene legal rules. If your payroll doesn’t adhere to requirements, you could find yourself with a big fine.

Payroll errors

How will HR software improve my payroll?

Given the costs of payroll errors, utilizing a state-of-the-art HR software is a solution you can’t afford to miss. Here are just some of the reasons why:

  • It saves time and money. Distributing payroll can often involve complex calculations and bespoke factors that would take days manually. By using software that does this all for you, your HR team will save valuable time.
  • It integrates your functions seamlessly. A good HR software such as Aqeed People can integrate with your other systems so that data syncing can be done automatically. Changes to holidays, sick leave, promotions, and bonuses can be updated with one click, and your software will handle the rest.
  • It gives real-time results. From ensuring updates are implemented efficiently to data accessibility, HR software can take care of everything. You can secure vital information, set your permissions and still be able to access the data you need in seconds.
  • It gives you automated reminders. By customizing your software to your specific company needs, it then uses AI technology to anticipate issues, set reminders for key dates and alerts for payment deadlines.
  • It helps you with strategic planning. Having an HR software that can collate and recall essential data in seconds can help management coordinate strategies and evaluate the course of action to make the right decision.
  • It gives your employees a crucial resource. With appropriate permissions, your employees can access their information quickly and easily, enabling them to ask the questions they need, get information that is helpful and avoids wasting your HR team’s time.

Ultimately, the benefits of having a smooth and efficient payroll are just too big to ignore….

  • With a smooth payroll, your HR team can focus on more critical tasks that will improve your company.
  • With a smooth payroll, you demonstrate your company’s financial stability to internal and external audiences.
  • With a smooth payroll, you can have happy employees and raise their level of trust in your organization.
  • With a smooth payroll, you can increase your employees’ productivity and therefore your company’s performance.

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5 vital reasons you need payroll software for small business https://magazine.aqeed.com/people/2019/03/25/5-vital-reasons-need-payroll-software-small-business/ https://magazine.aqeed.com/people/2019/03/25/5-vital-reasons-need-payroll-software-small-business/#respond Mon, 25 Mar 2019 10:39:54 +0000 https://magazine.aqeed.com/people/?p=744 Successful business growth relies on increased efficiency and productivity. Payroll software can improve both your efficiency and productivity. Payroll software will automate all of your compensation requirements. There are 5 vital ways your company can be improved with payroll software. Running a small business can be extremely complex. In an ever-increasingly competitive marketplace, it can […]

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Successful business growth relies on increased efficiency and productivity.

Payroll software can improve both your efficiency and productivity.

Payroll software will automate all of your compensation requirements.

There are 5 vital ways your company can be improved with payroll software.

Running a small business can be extremely complex. In an ever-increasingly competitive marketplace, it can be challenging to stand out and to grow. For many business owners, their original concept will have evolved in ways they couldn’t have imagined. However, when your small business is growing it is more important than ever that you take steps to protect it. By implementing payroll software for small business, you could transform your performance output for the future.

You won’t always be able to see issues coming, but investing in ways to tackle challenges is money well spent. Whatever the future holds, making your business more efficient will help you face it head-on.

The critical elements to ensuring your business have the best tools to succeed are associated with efficiency and productivity. If your company runs at its most efficient, it will save money. If it is more productive, it will grow your revenue. Increased efficiency and productivity go hand in hand, allowing you to cut costs and grow your bottom line simultaneously. It won’t come as a huge surprise that technology offers a unique way to achieve these objectives.

What is payroll software?

In a nutshell, payroll software does precisely what it says; it takes care of your payroll. It offers an automated solution to this pivotal element of your business.

Payroll software for small businesses will digitize the way you compensate your employees for time worked. The software uses data to calculate specific requirements, including deductions, and distribute payments on time, every time. The automated platform will cater to your bespoke needs and data information to achieve the right result, in real time. It can keep track of hours worked, time off, and holidays to ensure that no mistakes are made. Best of all, this won’t require any manual assistance; the entire system is automated.

It will generally be implemented as a complete HR and payroll software, adding efficiency across the board. However, this article will focus on how even just the payroll software can be invaluable.

Why does my small business need payroll software?

It will save time.

HR traditionally spends several hours per month dealing with payroll issues, often up to 1 hour per employee. In the UAE, they often have to contend with multiple employee types, bespoke fees, and holiday allowances. When attempting to resolve this manually, your HR team can be overwhelmed. By utilizing payroll software for small business, they will have more time for tasks that can have a more beneficial impact.

It prevents costly errors.

Payroll software is programmed to anticipate, facilitate and accommodate changes, rules, and obligations; automatically. That way it avoids making mistakes with employees’ payments. Manual payroll carries the increased risk of human error, and those mistakes can be very costly indeed. In Dubai, you can be fined for making errors on your payroll. Not to mention that payroll errors can quickly make your employees want to jump ship.

A recent study said that even one payroll error could affect an employee’s loyalty. Poor employee retention is costly in terms of recruitment and lost experience, but also your productivity and brand perception.

Payroll software for small business

It improves employee engagement.

Payroll software for small business comes with fully customizable solutions to suit your bespoke needs. This means you can facilitate employee access so that they feel more connected to the organization and their remuneration.

When employees feel confident in their role, they are more engaged. They will see transparency concerning their data and be able to quickly access the right information and the correct answers to their questions. Also, your HR team will have more time to spend on improving employee engagement overall. Engaged employees perform better than unengaged ones, by at least 20%, which is always good for business.

Payroll software for small business

It will increase productivity.

And we don’t just mean for your HR and accounts team. HR and payroll software accommodates the needs of all your employees. By automating crucial data and allowing for bespoke access, everyone in the company can view data in real time. At the touch of a button other departments, like finance, management, and budgeting, can access reports, ask questions and update their information. That way people avoid wasting unnecessary time and can focus on their work.

And we don’t just mean for your HR and accounts team.

HR and payroll software accommodates the needs of all your employees. By automating crucial data and allowing for bespoke access, everyone in the company can view data in real time. At the touch of a button other departments, like finance, management, and budgeting, can access reports, ask questions and update their information. That way people avoid wasting unnecessary time and can focus on their work.

And we don’t just mean for your HR and accounts team.

HR and payroll software accommodates the needs of all your employees. By automating crucial data and allowing for bespoke access, everyone in the company can view data in real time. At the touch of a button other departments, like finance, management, and budgeting, can access reports, ask questions and update their information. That way people avoid wasting unnecessary time and can focus on their work.

Your business needs you.

Your HR team handles most likely payroll, but it is still a significant component of your business. That means that it could often involve your time and effort, especially if mistakes are made. By implementing payroll software, you can be confident that it has been taken care of. That way, you can concentrate on more important matters that will grow your business. You could even refocus on what motivated you to start the company in the first place. Nobody should have to curtail their creativity for spreadsheets and data entry.

Ensuring that payroll is handled correctly, every single month, is an extremely time- consuming task. By leaping to an automated payroll system, you can benefit your business in so many more productive ways. If you have the opportunity to make your organization more efficient and productive, why wouldn’t you take it?

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How creative employee benefits could improve your business https://magazine.aqeed.com/people/2019/03/17/unique-employee-benefits-improve-business/ https://magazine.aqeed.com/people/2019/03/17/unique-employee-benefits-improve-business/#respond Sun, 17 Mar 2019 11:06:57 +0000 https://magazine.aqeed.com/people/?p=733 Employee benefits could enhance your business performance because they are crucial to current and potential employees. The best employees will want the best employee benefits, and we exist in a candidate-driven market. Make sure you have included the top 10 employee benefits as required by law and best practice. Consider adding more creative employee benefits […]

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Employee benefits could enhance your business performance because they are crucial to current and potential employees.

The best employees will want the best employee benefits, and we exist in a candidate-driven market.

Make sure you have included the top 10 employee benefits as required by law and best practice.

Consider adding more creative employee benefits as a way to attract the best and stand out from your competition.

Implement them properly and market them widely, internally and externally.

Competition might be rife amongst businesses these days, but it is now also higher than ever when it comes to employees. Gone are the days of employees picking one organization in which to spend their careers.

A demand for a better work/life balance and support has led employees to be far pickier when it comes to their workplace. In the GCC, a Hays study found that ‘69% of respondents said they were not satisfied with their current salary and benefits package, and 57% said they were anticipating a move to a new company’. Now, organizations need to be more aware of offering creative employee benefits if they want to attract and retain the best talent.

How do employee benefits come into it?

If your company has the right employees, it will always perform better. If your company engages your employees properly, they will always perform better. More and more companies are catching on to this simple equation as the answer to their future success potential. If you can attract the top talent, your resources are stronger. More importantly, if you can retain that talent, your company will go from strength to strength. The longer an employee is in your organization, the more valuable they become. That is why making sure you offer the best packages to your employees will be a crucial investment and one that could reap huge rewards.

As we can see from the study mentioned above, creative employee benefits are often ranked as important as salary in terms of employee satisfaction. Unique employee benefits ensure your staff feels happier, supported and included in the organization. Also, happy workers are more productive workers, sometimes by up to 20-37%. They feel heard and taken care of, which promotes loyalty in your brand.

With better employee benefits, you can have engaged workers who will be the best marketers of your business. In a 2018 list of the top 25 companies in the UAE, the one thing the winners had in common; happy employees.

What are the top 10 employee benefits?

In the UAE, our unique landscape of companies has fostered the necessity for a specific approach to cemployee benefits.  Due to the diverse nature of our workplaces, employers have to be savvy to compete for the best staff.  Generally, between legally mandated and common-place offerings, these are the top 10 employee benefits:

  • Health Insurance
  • Housing Allowance
  • Spousal Sponsorship
  • Dependant Sponsorship
  • Flights Home
  • Relocation Allowance
  • Transport Allowance
  • Child Education Allowance
  • Paid Vacation
  • End of Service Gratuity

Of course, several of these benefits are required by law, which doesn’t leave much room for ensuring your organisation is offering more than others.  That is why it is so important for your organisation to consider creative employee benefits.  These extra steps are valued extremely highly by modern employees and can make all the difference to your retention figures.  Even if you are a small business worried about budgets, there are more creative employee benefit solutions.  Some of the most appealing employee benefits don’t have to cost you a dirham.  

What are some of the most successful unique employee benefits?

If you are looking to find more creative ways to ensure you have the best employee benefits, then this could be the list for you.  Consider which ones would suit your business and appeal most to your current staff and those you want to hire.

Flexibility

This consistently tops the list of the types of employee benefits that matter most. A recent study found it ranked joint 1st with health.

creative employee benefits

In this candidate-driven market, employees are looking for the chance to live a more balanced and full life. Offering flexibility in terms of hours and even location could make all the difference. Flexible hours could include different start and finish times, perhaps to accommodate a school run. They could also include people to leave early when work has been done or even working from home in a part-time capacity.

Recognition

Feeling like your hard work goes unnoticed can be toxic for any work environment. Promoting a culture of positive recognition within your business is an excellent way to encourage your employees. Perhaps you could have a monthly awards morning or ask peers to recommend team members for recognition.

Financial Assistance

In this region, many people need large one-off payments for rent, schooling and purchasing a car. A loan to cover those payments that can then be deducted from their monthly salary is a huge draw.

Wellness

We’ve already established that happy workers perform better, but they also work more when they are healthy. Offering wellness type activities trigger your employee engagement and could result in less sick days. Options could range from office smoothie mornings to lunchtime fitness classes, weight-loss competitions and exercise incentives.

Rewards

In Dubai, we are always surrounded by promotions of luxury and aspirational activities, but they aren’t always accessible. Utilizing your brand’s position to offer special rewards for good performance will still be well received. Remember it is the gesture that will mean the most, so they don’t always have to be expensive. Options could range from meals out to holidays, helicopter tours to hot air ballooning, food hampers to electronic vouchers or even spa treatments.

Discounts

Who doesn’t love a discount? As an organization, you are in a unique position to negotiate deals that will appeal. Maybe everyone’s favorite sandwich shop could do a weekly discount? Or even the go-to after-hours hang-out? Perhaps a gym membership?

Efficiency

Every organization should be as efficient as possible, especially as it makes people’s lives easier. That is also how your employees feel. By offering a state-of-the-art HR software system for your employees, they can feel more included in the organization. From dealing with payroll to storing data and providing information 24/7 this type of programme ensures your employees have solutions at the touch of a button.

Accessories

Creating a fun, inclusive environment in your office will be extremely beneficial to your employee engagement. Consider what will work best for your organization. From a top-end coffee machine to delicious snacks, a game room to the library, playing music to allowing pets, there are lots of options to choose from.

What is the best way to implement creative employee benefits?

Talk to your employees. It’s that simple. Have a conversation have many, about what they would like. Do a survey and find out what is most important to them. The more employees feel they have been able to customize their benefits the more important they will be to them. It will also make them more loyal to the company.

Also, consider the type of talent you might want to attract in the future. What would make you stand out above your competition? Especially when it comes to the nuances of the Middle East. Lastly, make sure you publicize your creative employee benefits – both internally and externally. Currently, employees need to know how valued they are and new ones need to understand why you are the best.

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The 5 steps to make sure your small business offers the best employee benefits https://magazine.aqeed.com/people/2019/03/13/5-steps-make-sure-small-business-offers-best-employee-benefits/ https://magazine.aqeed.com/people/2019/03/13/5-steps-make-sure-small-business-offers-best-employee-benefits/#respond Wed, 13 Mar 2019 12:15:33 +0000 https://magazine.aqeed.com/people/?p=727 In a competitive marketplace, companies need engaged employees to succeed. Employee benefits matter for small business success, because they have a direct impact on employee engagement. How do you make sure you have the best employee benefits offering? By utilizing our five steps solution below. All businesses now have to function in an extremely competitive […]

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In a competitive marketplace, companies need engaged employees to succeed.

Employee benefits matter for small business success, because they have a direct impact on employee engagement.

How do you make sure you have the best employee benefits offering? By utilizing our five steps solution below.

All businesses now have to function in an extremely competitive market place. An increasingly globalized society has meant that even small companies can find themselves facing stiff opposition.

With the growth of online services and technological innovation, customers have far more choices than ever before. In 2017, around 1.66 billion people purchased goods online and in the Middle East, and according to Go Gulf Gulf News, 29% of people shop online every month. Of those in the Middle East, 58% of products and services were bought from overseas vendors. This adds up to greater competition for small businesses, whatever their offering, not only on a local level but internationally as well.

A primary key to making sure your business succeeds lies with your employees. That is why taking the time to make sure you offer the best employee benefits is crucial for your small business.

Why employee benefits matter for small business success?

Your employees are the lifeblood of your organization. Whatever your purpose or aims are, it is your employees that can help or hinder your progress. Your employees are responsible for the productivity of your organization, dealing with your customers, spotting potential issues and providing resolutions.

Every study shows us that properly engaged employees perform at much higher levels than those that aren’t. When AON named the top Middle East Employers in 2018, they all shared two traits; an above average engagement level (84%) and 50% higher shareholder return than the market average. The winners, which included InterContinental Hotel Group, Marriott International and Turkish Airlines, all embodied the key attributes of engagement; support, communication, and rewards.

Employees that feel developed, supported and rewarded for their efforts will perform better every time, which will ultimately benefit your bottom line.

How do you make sure you have the best employee benefits?

Since the rewards or benefits you provide your employees are so vital to their engagement levels, you need to make sure that you are as competitive in your offering as possible. To achieve the most efficient results for your business, you need to take the following steps:

Step 1: Know the law

This might sound simple, but it can often be overlooked, which could be a costly mistake. First and foremost you need to know what employee benefits you are obligated to provide under the law. Not only will this help you avoid legal troubles, but it will also give you a benchmark of where your competitors will be starting from.

In Dubai, for instance, private sector employers are obligated to provide sponsorship, vacations, WPS, health insurance and end of service benefits.

Step 2: Determine what your business needs most

This crucial step will be a huge help when it comes to budgeting and strategic planning for future growth. It would be best if you decided what your business needs most to achieve its most important objectives.

Perhaps you need a certain number of employees to meet a production schedule either through recruitment or retention? The number of employees you need will impact how much you can budget for employee benefits.

Maybe you need specific types of employees and talent to work on key tasks? Hiring more senior staff could mean they will need more advanced employee benefits.

If your employees need to work certain hours to accommodate international markets, perhaps offering employee benefits that include flexible working, like from home, could help.

Step 3: Budget strategically

This involves two aspects; what you can afford and how much you should be spending.

You need to examine your accounts to ascertain the potential flexibility of your budget moving forward.

Then you need to understand your current levels of spending in terms of employee benefits.

Finally, you need to assess whether your current spend is appropriately in line with your revenue growth. What percentage of your income are you reinvesting into your employees? Does it grow annually with company performance? Does it reflect their contribution to your organization’s success?

Step 4: Explore your employee benefit options

Firstly, not all employee benefits have to be financial. If you are worried about the costs of attracting and retaining employees, there are other ways to meet their needs.

The key is determining which benefits will be most beneficial to your employees and which ones fit your business model. There could be opportunities for group benefits for small businesses that you haven’t considered. It would help if you also considered which small business benefits will be particularly significant to employees in this region.

Here are some of the benefit options that could be included in your package:

  • Wellness benefits – such as exercise options, gym memberships, yoga or meditation workshops
  • Training and development – to foster their professional skills growth. Could include internal or external training and internal mentorship programmes.
  • Loan support options – this is particularly helpful in this region for employees who might need help with renting costs or buying a car, as they often required single checks and an advance from the company could help them get the best deal.
  • Dependant Sponsorship and Health Insurance – This is crucial in the UAE as there isn’t a national health service, so this gives your employee a piece of mind.
  • Yearly health checks – could include diabetes and BMI analysis. This is a great way to help keep your employees fit and healthy.
  • Child Education Allowance – for employees with children, having assistance to ensure they get the best education is vital
  • Dental and optical Insurance – not all health insurance packages include these options, so by going the extra mile, you are showing you care
  • Maternity and Paternity cover – this is a big factor for many employees these days who want to know they work for an employer who supports their family
  • Flexible working hours and locations – Given the evolution in the way we work and the most efficient ways to be productive, this could be a useful tool
  • Additional vacation days – who wouldn’t want more vacation days?
  • Performance-related rewards such as team recognition, meals, treats, gifts, etc
  • HR software that gives employees personalized and direct access to the information they need most.

Step 5: Communicate your incentives

Once you have concluded which are the best employee benefits for your business, you need to communicate them effectively. By this we mean you need to market your offering both internally and externally. Your employees need to understand what they are entitled to, what they could achieve and what benefits you are offering.

This will help them feel more engaged, improve employee retention and ultimately make them more productive.

Externally speaking, by marketing your employee benefits you can raise the profile of your organization and attract talent to your staff.

By taking a sensible and strategic approach to your employee benefits offering, you can exponentially increase your business’s growth potential. If you can find the right package to suit your budget and capabilities, your employees will be better off. They will be more engaged, more satisfied and perform much better, which will make your company perform better.

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3 reasons it’s time to stop outsourcing Human Resources https://magazine.aqeed.com/people/2019/03/04/3-reasons-time-stop-outsourcing-human-resources/ https://magazine.aqeed.com/people/2019/03/04/3-reasons-time-stop-outsourcing-human-resources/#respond Mon, 04 Mar 2019 11:39:28 +0000 https://magazine.aqeed.com/people/?p=721 Why outsourcing all departments don’t work. Tips for implementing a stronger in-house HR team. HR technology to maximize your HR department. When outsourcing does work. How many departments and jobs do you outsource at your company? HR outsourcing and using contractors became wildly popular thanks to the Great Recession. Businesses of all sizes realized that they […]

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Why outsourcing all departments don’t work.

Tips for implementing a stronger in-house HR team.

HR technology to maximize your HR department.

When outsourcing does work.

How many departments and jobs do you outsource at your company? HR outsourcing and using contractors became wildly popular thanks to the Great Recession. Businesses of all sizes realized that they could save big by outsourcing. Outsourced workers don’t receive benefits such as healthcare or vacation leave. In some cases, outsourcing also means these workers aren’t on site and increasing overhead. However, outsourcing isn’t the best solution for all jobs.

Outsourcing departments: Yes or no?

HR outsourcing trends in the past 10 years include depending on third-party companies to take care of all HR needs. HR outsourcing can work for some companies, but it shouldn’t be the norm. Employees often depend on having a trusted, in-person team they can rely on.

When outsourcing human resources, many times you can “outsource” that sense of dependability and trust in-house HR teams. For example, who’s going to handle sudden personal matters? Some issues require immediate support from HR. An outsourced team can’t offer that.

Outsource HR for small business? Think again

HR outsourcing is usually chosen to save money. It’s rare that you can get more qualified experts when outsourcing HR. (It is possible to secure more skilled experts in other types of outsourcing, such as computer engineering). If saving money is the sole reason for HR outsourcing, you’re not doing your employees any favors.

Strengthen your HR Team

Here are the primary reasons to stop HR outsourcing:

  1. You aren’t really saving money. The money saved from outsourcing is more than spent due to a poor performing HR department. HR departments can help retain and nourish the best employees. When that’s not happening, you’re losing the most qualified employees.
  2. The latest HR tech is a game changer. When you have cutting edge HR tech available, there’s no need to outsource. Instead, equip your HR team with the best technology so they can focus on in-person tasks.
  3. You don’t really know what’s happening. If you’ve hopped on HR outsourcing trends, are you really in the know about what’s happening? Does the outsourced team have your business’ best interest at heart? What happens when you can’t walk down the hall and have a chat with your HR team?

You might be able to outsource a wide range of jobs, but when it comes to complete departments think again. Taking the human out of human resources is risky.

Tech help to the rescue

The only way to truly tell if your HR outsourcing is hurting you is to run the numbers. How was the turnover rate before outsourcing? How does employee satisfaction compare? If you’ve always outsourced or no longer have the numbers, it’s time to kickstart a new analysis. As you transition back to in-house HR, complete with HR tech, make sure you have the most recent numbers from your outsourced team.
There will always be an adjustment period, so plan accordingly. Track key figures, like turnover rates, strictly for at least 18 months. You might see more stability and employee satisfaction when you bring HR in-house.

When outsourcing works

Keep your outsourcing for specialized positions that are difficult to place in-house. Outsourcing is also a great option for some short-term jobs. If cost is still a factor, consider other avenues for saving.

Implementing new HR technology, offering some virtual work positions, and swapping out non-required perks for free options can help. For instance, negotiate with a nearby gym for discounted memberships instead of springing for an overly-generous paid vacation period.

When it comes to outsourcing, opting for HR outsourcing is often too risky. The department that manages the humans of your business needs to be invested and on-site.

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How to use the STAR Interview Technique to land a Job https://magazine.aqeed.com/people/2019/02/24/how-use-star-interview-technique-land-job/ https://magazine.aqeed.com/people/2019/02/24/how-use-star-interview-technique-land-job/#respond Sun, 24 Feb 2019 12:57:25 +0000 https://magazine.aqeed.com/people/?p=655 The STAR technique can tap into a candidate’s creativity. STAR allows HR and the hiring manager to learn more information than a CV and background check would give. STAR questions eliminate canned responses. Get examples of STAR questions. There are many interview techniques, but one of the most effective might be STAR. STAR Technique interview […]

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The STAR technique can tap into a candidate’s creativity.

STAR allows HR and the hiring manager to learn more information than a CV and background check would give.

STAR questions eliminate canned responses.

Get examples of STAR questions.

There are many interview techniques, but one of the most effective might be STAR. STAR Technique interview questions include introducing a Situation, Task, Action, and Result. It’s a helpful tool for questions based on competency.

You probably recognize the STAR interview technique from questions starting with, “Tell me about a time …”. For a competency-based interview, STAR can help the interviewer get to know you and spark productive conversations. Also, once the interviewer understands the analytical side of your brain, it help him understand if he or she is hiring the right person for the business.

However, you want to make sure that you provide answers relevant to the position. Many candidates have canned responses ready for “Tell me about a time you had a difficult customer.” Although that question is relevant to many positions, it won’t necessarily help the interviewer understand your qualifications. The STAR interview method is specific to each business and job.

STAR Technique interview questions: tips

According to The Balance Careers, the best competency-based interview STAR questions are customized for every interview. The people who usually create these questions are those who previously held the position. You can impress the interviewer by being creative and thinking on your feet. These questions are designed to render genuine results.

It’s also important to note that STAR questions only apply to past scenarios in which you’ve achieved a specific result from an action you took to accomplish a task. The STAR technique cannot apply to hypothetical situations. STAR interview questions typically start with phrases like “Tell me about a time when…” or “In the past, how did you handle a conflict with a coworker…”

The STAR technique can’t be used with hypothetical questions because you can’t identify a result that happened from a specific action you took. A response that utilizes this process must show a particular result or outcome from an action.

Customize your STAR responses

Here are a few sample questions you may receive:

  1. In your past role, tell me about a time when you had an opportunity to upsell an item. How did you handle the situation? Upselling is the key to success for many retailers. Understanding how you have tackled an upsell can be critical in making hiring decisions.
  2. Discuss a time when a customer pressured you for information that you didn’t have on hand. How did you give them a good experience without guessing? High stakes environments, such as luxury car dealerships, can mean one wrong move ends in thousands of dollars lost. You might not know the company protocol at the moment, but this question gives the hiring manager a peek into how you think.
  3. Reflect on a time when you weren’t scheduled to work, but a colleague was very ill. How did you help the team during a staff shortage? These types of questions are largely for retail workers, but it’s essential for the company to know how flexible you are. While managers certainly shouldn’t avoid hiring someone who says no in this imaginary situation, it will give them a glimpse into your availability.

In every type of job, significant challenges often arise. The employee’s action and the result are critical to company success. When asked these types of behavioral questions, be ready with a few examples of how you’ve executed a similar task in a past position. When answering the question, follow the STAR method to provide a complete example for the hiring manager.

Identify a specific situation, task, action or result you achieved from your actions. This technique helps to hire managers to gain a clear understanding of your skills without having to ask to follow up questions to understand how you delivered results.

HR professionals might Learn More from STAR than from a CV

One of the best aspects of STAR is that it opens up conversations. Most biographical information, such as schools attended, can be gleaned from a resume. There is no need for you to regurgitate basic information that the company should already have. Instead, the interview should be a time for interviewers to get to know you and how you think. Reflecting on past workplace scenarios can give them a lot more information.

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Is employee loyalty a thing of the past? https://magazine.aqeed.com/people/2019/02/17/is-employee-loyalty-thing-past/ https://magazine.aqeed.com/people/2019/02/17/is-employee-loyalty-thing-past/#respond Sun, 17 Feb 2019 11:56:29 +0000 https://magazine.aqeed.com/people/?p=651 Employee loyalty has changed definitions. Millennials are loyal to a task, not a job. There are pros and cons for both types of loyalty. Check out these strategies to keep the best performing employees. When is the last time you handed out a gold watch for an employee that has been with the company for […]

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Employee loyalty has changed definitions.

Millennials are loyal to a task, not a job.

There are pros and cons for both types of loyalty.

Check out these strategies to keep the best performing employees.

When is the last time you handed out a gold watch for an employee that has been with the company for 50 years?

Probably never, although that used to be the norm. Some people say employee loyalty is a thing of the past. However, that might not be entirely true. Instead, the definition of employee loyalty might be changing.

Employee loyalty’s definition has changed

Millennials seem to be more loyal to values rather than to a specific company. In fact, Gallup reports that Millennials are three times more likely to have changed jobs in the past year compared to other generations. Likewise, Inc. reports that 60 percent of Millennials are open to a different job opportunity.

It’s safe to say the definition of loyalty has shifted. Increasingly, workers are defining loyalty as related to a specific task, not their overarching job.

Millennials report that they are hired to do a certain task. They’re happy to learn to do this task to the best of their ability. However, once that task is mastered, they crave something new. This “something new” might be a different task, job, or a promotion for a job well done. They don’t care if the new task comes from their current employer or someone else. In their eyes, their “job” is complete. They were “loyal” to the task at hand.

Importance of employee loyalty: millennials think differently

Employee loyalty might be changing its definition, but it remains important. The traditional idea of loyalty—sticking with a job for a long time—might be considered important because:

  1. It costs employers a lot of money to train someone new. A low turnover rate means employers save money on training. Managers have peace of mind knowing the employees they trust will likely be there for a long time.
  2. It ruffles fewer feathers. A lot of people might get stressed with a high turnover rate. Coworkers, managers, and stakeholders prefer it when things are “as they should be.”
  3. Employees might feel like they have job security. In the past, being with a company a long time meant your chances of getting fired were slim. However, this isn’t necessarily true for younger generations who saw the Great Recession.

Pros and cons of various employee loyalties

That’s one definition of employee loyalty. The newer definition, that of mastering a task and considering yourself loyal, also has benefits:

  1. Workers are motivated to master a task. If the goal is to learn and master a task, Millennials are tackling this challenge with gusto. This ensures well-rounded and skilled employees are in the market.
  2. It keeps the workplace challenging. Millennials are excited about learning new tasks. This means there’s an energy in the workplace that can be inspiring.
  3. Workplaces are kept fresh. Workplaces can easily get stale with the same people and mentalities day after day. A higher turnover rate due to the new definition of loyalty can shake things up.

Ultimately, managers want to keep the higher performing employees and allow the lower performers to move on.

Why key strategies matter

If you’re a manager and you want to skew employee loyalty to your advantage, there are some steps to take. First, know the employee value proposition (EVP) for every position. Is the person in that role the best fit? Next, maximize employee performance reviews. Know where every employee wants to be and help them get there.

Finally, consider three years as the “long term plan timeframe” for employees. Where do they want to be in three years? Where do you want them to be? Not everyone wants to get promoted or stick with the company. The more you know about their game plan, the better you can adjust yours.

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Employee engagement and why It matters to SME’s https://magazine.aqeed.com/people/2019/02/10/employee-engagement-why-matters-smes/ https://magazine.aqeed.com/people/2019/02/10/employee-engagement-why-matters-smes/#respond Sun, 10 Feb 2019 08:43:53 +0000 https://magazine.aqeed.com/people/?p=641 Employee engagement is directly tied to employee satisfaction. Engaged employees lead to positive side effects in a variety of areas. Employee engagement should be a priority for businesses of all sizes. Increase employee engagement with some easy strategies like compassion. How high does employee engagement rank on your priority list? For many SMEs, it might […]

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Employee engagement is directly tied to employee satisfaction.

Engaged employees lead to positive side effects in a variety of areas.

Employee engagement should be a priority for businesses of all sizes.

Increase employee engagement with some easy strategies like compassion.

How high does employee engagement rank on your priority list? For many SMEs, it might be closer to the base of that priority pyramid. Small and mid-sized businesses have a lot to focus on. From being productive and profitable to slow and steady growth amidst major competition, it’s tough out there.

However, employee engagement is critical for every aspect of a business. Employee satisfaction is linked to fewer sick days and more productivity. Employee engagement activities can help increase morale, achieve organizational goals, and create a positive company culture.

Engaged employees are happy employees. With employee engagement being linked to every positive aspect of a business, you can’t afford not focusing on.

Why is employee engagement important? It has a snowball effect.

Harvard Business Review recently reported on data that included 1.4 million employees. The study found that employee engagement was directly linked to:

  • 25% less employee turnover in high turnover jobs. A company with more employee engagement simply had a lot less turnover. If workers are engaged, they’re less likely to quit or look for other jobs.
  • 48% fewer safety incidents. Unsurprisingly, the more employee engagement there was fewer accidents. This isn’t just for high-risk jobs like construction workers. The number one workers’ compensation claim every year is the slip and fall.
  • 41% fewer product defects. Another unsurprisingly find: when there’s employee engagement, there are fewer issues with products. This goes for everything from cars to sandwiches.

Employee engagement is critical because it affects everything related to your business. Engaged employees are aware, alert, and more productive. They’re happier, healthier, and they’re paying attention. They’re less likely to leave and more likely to recommend skilled workers to join your company.

Importance of employee engagement in HRM: A must for businesses of all sizes

Human resources management, or HRM, is a critical department for any company. However, you can’t assume that just because a worker is in HR that they’re innately engaged. HR workers can suffer from burnout and lack of engagement just like anyone else. If you overlook employee engagement in HRM, that can be a big mistake.

Workers often look to their HR rep for guidance. If it’s clear your HR workers aren’t engaged, that tells your other workers that zero engagement is the norm. HR workers need HR representation just like everyone else. They need encouragement and positive feedback. If you see that there’s no engagement in this department, you can count on a snowball effect in other departments.

One way to gauge employee engagement in HRM is with the right HR software. This will help you keep track of incidents and monitor employees at risk of engagement fallout.

Employee satisfaction and engagement: Strategies to implement

Employee satisfaction often goes hand in hand with engagement. More engaged employees are just happier. Happy employees are healthier and are the best word of mouth advertising for your company. However, how can you increase both engagement and satisfaction?

  1. Be flexible. Whether it’s offering flex-schedules or asking employees to volunteer to take on leadership roles, flexibility in the workplace can increase engagement.
  2. Be kind. This golden rule can get lost during high-stress periods. Kindness, compassion, and empathy go a long way.
  3. Listen. If workers feel like their managers genuinely listen and care about their opinions, they’ll be more invested in their work and company.
  4. Trust your employees. Avoid micromanaging and encourage every employee to take ownership of tasks. When they’re trusted with their jobs, engagement will follow.
  5. Create a safe environment. Employees should feel safe to express questions or concerns in the workplace. Create a judgment-free zone and practice openness and expression.
    Keeping an eye on engagement levels is a must for HR and managers. Habits and attitudes can “catch” in the workplace. You want positive engagement to lead the way and to address negativity early.

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