About 31 per cent of multinational companies are willing to send their employees on international assignments in 2022 while only 15 per cent plan to reduce such trips, signalling a gradual return to normality for businesses, according to a new survey.
Seventy-four per cent of those overseas assignments are expected to last between one and five years, with only 9 per cent set to be for shorter terms, between six and 12 months, the survey by global advisory firm Willis Towers Watson, which polled 107 multinationals in 15 countries in July this year, showed.
“Big businesses have found it an immense challenge to move their workforce around during the pandemic, but as conditions improve they are rediscovering the importance of keeping their talent globally mobile,” said Steve Clements, head of integrated and global solutions in the Middle East, Willis Towers Watson.
As confidence returns, companies are now more willing to move staff overseas for longer placements
Steve Clements,
Willis Towers Watson
“As confidence returns, companies are now more willing to move staff overseas for longer placements, which is a positive sign for the UAE labour market and the broader economy.”
Cost of living is a major factor that companies have to consider when negotiating salary packages for employees being transferred to other countries, according to global consultancy Mercer, which released its global Cost of Living survey in June.
Ashgabat, the capital of Turkmenistan, Hong Kong and Beirut are the three most expensive cities in the world for overseas workers in 2021, the survey found.
The cost of living in Dubai and Abu Dhabi fell owing to the diversification of the UAE’s economy, Mercer said. Dubai was ranked 42nd in the Mercer survey, down from 23rd place last year, while Abu Dhabi fell from 39th place to 56th, making the cities more attractive to expats.
Recent government initiatives such as remote working visas and the expansion of the 10-year golden visa programme have encouraged foreign professionals to settle in the UAE.
“The UAE’s recent visa changes means it also stands to gain from those companies freeing their staff to work anywhere in the region or the world, though employers need to be wary of tax and legal implications,” Mr Clements said.
Half of the respondents to the Willis Towers Watson survey are rethinking their global mobility strategy, with one in five offering employees the opportunity to “work from anywhere”, the research found.
Flexible perks and incentives are increasingly commonplace in workplaces globally as companies adapt to changing dynamics after nearly two years since the onset of the pandemic. Employees are increasingly insisting on flexible hours, enhanced benefits and better treatment.
About 42 per cent of remote workers said if their company does not continue to offer options to work from home in the long term, they will look for a job that does, according to a March 2021 survey by financial services company Prudential.
Multinationals are also offering enhanced telehealth services and employee assistance programmes (EAPs) to their staff based overseas after the pandemic, the Willis Towers Watson survey revealed.
Seventy one per cent of companies now offer EAPs to their internationally mobile employees, up from 53 per cent in 2019. Additionally, 44 per cent expanded their well-being benefits this year, up from 30 per cent in 2019, the research found.
“Employers have become more focused on giving their expat staff and business travellers an expanded level of coverage and support,” Mr Clements said.
“In the early days of the pandemic, many employees were stranded in countries that were not their normal base, and so telehealth and mental well-being services went from being nice-to-haves to essential. Those benefits are here to stay and will continue to evolve.”
Global business travel is expected to reach two-thirds of pre-pandemic levels by the end of next year, with the revival led by Asia and the Middle East, the World Travel & Tourism Council said in a report in collaboration with McKinsey last month.
The Bio
Name: Lynn Davison
Profession: History teacher at Al Yasmina Academy, Abu Dhabi
Children: She has one son, Casey, 28
Hometown: Pontefract, West Yorkshire in the UK
Favourite book: The Alchemist by Paulo Coelho
Favourite Author: CJ Sansom
Favourite holiday destination: Bali
Favourite food: A Sunday roast
EA Sports FC 26
Publisher: EA Sports
Consoles: PC, PlayStation 4/5, Xbox Series X/S
Rating: 3/5
Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Naga
%3Cp%3E%3Cstrong%3EDirector%3A%C2%A0%3C%2Fstrong%3EMeshal%20Al%20Jaser%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%C2%A0%3C%2Fstrong%3EAdwa%20Bader%2C%20Yazeed%20Almajyul%2C%20Khalid%20Bin%20Shaddad%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E4%2F5%3C%2Fp%3E%0A
Oppenheimer
%3Cp%3E%3Cstrong%3EDirector%3A%20%3C%2Fstrong%3EChristopher%20Nolan%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStars%3A%20%3C%2Fstrong%3ECillian%20Murphy%2C%20Emily%20Blunt%2C%20Robert%20Downey%20Jr%2C%20Florence%20Pugh%2C%20Matt%20Damon%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E5%2F5%3Cbr%3E%3C%2Fp%3E%0A
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
Developer: Ubisoft Montreal / Ubisoft Toronto
Publisher: Ubisoft
Platforms: Playstation 4, Xbox One, Windows
Release Date: April 10
57%20Seconds
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The Transfiguration
Director: Michael O’Shea
Starring: Eric Ruffin, Chloe Levine
Three stars
The%20specs
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'Panga'
Directed by Ashwiny Iyer Tiwari
Starring Kangana Ranaut, Richa Chadha, Jassie Gill, Yagya Bhasin, Neena Gupta
Rating: 3.5/5
COMPANY%20PROFILE
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The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
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Law%2041.9.4%20of%20men%E2%80%99s%20T20I%20playing%20conditions
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Jetour T1 specs
Engine: 2-litre turbocharged
Power: 254hp
Torque: 390Nm
Price: From Dh126,000
Available: Now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Ziina users can donate to relief efforts in Beirut
Ziina users will be able to use the app to help relief efforts in Beirut, which has been left reeling after an August blast caused an estimated $15 billion in damage and left thousands homeless. Ziina has partnered with the United Nations High Commissioner for Refugees to raise money for the Lebanese capital, co-founder Faisal Toukan says. “As of October 1, the UNHCR has the first certified badge on Ziina and is automatically part of user's top friends' list during this campaign. Users can now donate any amount to the Beirut relief with two clicks. The money raised will go towards rebuilding houses for the families that were impacted by the explosion.”
COMPANY%20PROFILE
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