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The June 30 deadline is creating a sense of urgency among private sector workers
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Companies in the UAE are encouraging employees to enroll in the Unemployment Insurance Scheme, which came into effect on January 1, 2023.
The UAE has made it mandatory for Emirati and expatriate employees working in the private and federal government sectors to enroll in the Involuntary Unemployment (ILOE) Insurance Scheme by June 30 or face a Dh400 fine.
In the first two days of this year, more than 60,000 employees have signed up for the program.
In addition to enrolling, companies can pay premiums on behalf of employees and can later deduct from their paychecks or contribute to the program as an incentive.
Dr Thumbay Moideen, Founder President of Thumbay Group said they encourage their employees to join the scheme as it will help them when they are unemployed, help them pay their bills and take enough time to make good decisions. future.
Furthermore, he said, this initiative encourages people to feel more confident about developing their careers in the UAE.
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“The unemployment insurance scheme increases the competitiveness of the labor market and encourages people from the region and globally to look more closely at the UAE as a destination to live, work and invest,” he said, adding that this would lead to lower mobility labor pool that contributes to the retention and development of knowledge in the economy.
Rizwan Sajan, founder and chairman of Danube Group, said his company has already started educating more than 3,000 employees on the long-term benefits of the scheme, as well as the benefits in case market conditions lead to unexpected job losses. “The response from our employees has been overwhelmingly positive and we will continue to encourage them to enroll in the Unemployment Insurance Program.”
Aster DM Healthcare Group Chief Human Resources Officer Fara Siddiqi said the group is actively encouraging its more than 9,000 employees to actively participate in the ILOE insurance scheme.
“Aster aspires to provide workplace and community safety through our wellbeing practices, including mental, physical and financial wellbeing. For events such as job loss and providing financial support for our employees in major events, we have created programs such as ‘Just Ask’ programs to support the financial needs of employees coping with crises and major life events,” she said.
Samara Punjabi, chief executive of Times Square Group, believes that the unemployment insurance scheme will help retain and attract the best international talent and is an immune shield in case of unfortunate unemployment.
“We fully support the program and encourage it among our workforce. The aim is to ensure that our talent workforce feels valued and secure to keep attrition rates low. This will also keep morale and productivity high in the organisation,” Punjabi added.
Deadlines Create a Sense of Urgency
Anselm Mendes, executive director of sales at the Continental Group, said the activity around the involuntary unemployment insurance program is creating a sense of urgency in the private sector because of the June 30 registration deadline.
“Companies are either encouraging employees to self-register or make it part of company policy. Regardless, the discussion is picking up and employees are showing good awareness. While the inherent relevance of the topic to employees is the main reason for increased awareness, the media The impact of reporting is also critical,” Mendes said.
“Some companies encourage employees to sign up online and promise to help every step of the way. Company promises can end sooner than self-enrollment,” he added.
Moin Ur Rehman, executive director of Unittrust Insurance, said many employers in the private sector have informed their employees about the scheme and encouraged them to enroll.
“The company has sent out email notifications and this has been a topic of discussion among employees as many are exploring the option of joining the scheme. As the scheme is mandatory for employees, private companies are also encouraging their employees to participate Unemployment Insurance Program,” he said.
waheedabbas@khaleejtimes.com
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