It's becoming harder and harder to retain good employees in Dubai. I would imagine it to be the case everywhere in the Gulf region. Everyone is itching for the next-best-thing. Very few people are actually satisfied with their work.
Do you give staff a pay rise? How much will that cost? How much time will that buy you? The problem with pay rises is that no matter how much you pay, you cannot reasonably keep pace with the inflation levels in Dubai. The situation is getting worse for everyone by the day. Rent arguably eats away half of everyone's income (middle income brackets).
So, aside from the 5-day week, I started looking into health insurance. It is arguably the cheapest thing you can do, with the highest perceived value. Health insurance is a big deal for a lot of people. Especially those with kids. It's worth the investment.
I've seen a few brokers and insurance companies. Problem with most of them is, they don't want to talk to you unless you are bringing in 20-30+ staff members. If you are a small company like ours, this is not going to be an option. You will need to dig deeper. Brokers are usually best equipped to handle this. Avoid dealing with insurance companies directly.
The cost will be anywhere between 1000-2500 per head per annum. It all depends on what kind of coverage you want to give your staff. We are talking about a 100 dhs/month per staff worth of a pay rise. Probably affordable. You also couldn't get away with giving people a 100 dhs pay rise as they are bound to be offended. But, give them health insurance!
It's also worth noting that Abu Dhabi has now made it mandatory for companies to provide their employees with health insurance. Everything indicates that Dubai is about to follow suit. Don't wait for the government to force you to do it. You will get big points with the staff!
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