Companies bestow their employees with numerous types of benefits that keep them working hard and efficiently towards achieving the company goals. Just how these benefits help the employees to stay committed, the same way they help the employers to stand out of competition. Along with that, they are also able to keep their employees motivated, committed, and dedicated to achieving their goals.
Having said that, the benefits and offerings vary across companies and countries altogether. And here is a look at some of the most intriguing benefits that these countries offer. Let’s take a look at them:
1. UAE Upholds Employee Rights
UAE is a dream country for fresh graduates and young employees. The enabling ground allows them to set the foundations of their career and subsequently thrive ahead. Nevertheless, the UAE labor law itself plays an impeccable role in building the economy and business community alike. For instance, article 121 UAE labour Law allows an employee to resign if the rights are not granted. Similarly, the compensation, annual leaves, and gratuity fund also deliver an incentive for the locals and expatriates to work here.
2. Swiss Social Security System
Switzerland is a dream destination; whose fascinating beauty leaves the visitors in simple awe. Yet, the corporate world is no less attractive for employees. The all-famous Swiss social security system divides the benefits according to groups. These include survivors, old age, accidents, health, illnesses, maternity, military, unemployment, and family allowances.
Amongst them, the employment benefits are worth a discussion. The employees are granted communication benefits, transportation facilities, educational and training programs. Along with that, meal allowances, company discounts, medical insurance, and paid vacations keep the employees rooted here. Together with these monetary and non-monetary benefits, the employees can improve work efficiency and productivity altogether.
3. Finland’s Maternity and Paternity Leave
Finland’s employment laws celebrate the joy of the newborn along with the new parents. It does so by granting a long parental leave of 164 days to either parent. That converts to approximately 5 months of work time off. The paid allowance continues until the child is 13 weeks old. The couple can also transfer the 69 days of their quota to the other parent.
Out of these, 26 weeks are paid out of 70% of the employee’s salary. For the remaining weeks, employees are given a flat rate. Despite these generous leave allowances, fathers in Finland do not use their allotment, reflecting a still stubborn gender imbalance in the country.
Moreover, if a single parent is raising a child, he/she will get the parental allowance of both the parents.
4. Iceland’s Pension Program
Iceland is well-known for the pension programs that it grants its employees. With some of the best pension plans in the world, Iceland requires an individual to have lived in the country for at least three years, between the ages of 16 and 66. After this, they are eligible to receive the old-age pension from 67 years and onwards.
The occupational pension system remains a cornerstone of Iceland’s pension system. It provides 50% to 60% of full-time earnings during employment. The contribution rate makes it quite convenient, with the employer paying 7% and the employee paying 3%, thereby totally up to the minimum slab of 11%.
Moreover, the Icelandic system dwells on the equal-earning system. This means that an employee aged 25 years old will be able to earn the same defined premium as a 55-year old employee.
5. Austria’s Disability Allowance
The unfortunate events can come up at any time, sometimes affecting and at other times simply ruining one’s dream career altogether. However, Austria’s disability pension helps such people and paves the path for an easy future ahead.
Nevertheless, it applies to all those, who have come across a serious illness/ accident or mental illness, and halted their income routine. While the blue-collar people are termed with incapacity, the white-collar ones are known as invalid. With the help of this pension, one can enter back into the labor market, after an adequate recovery process. Also, it allows the person to stay in touch with their field and resume once they have recovered.
6. Columbia’s Digital Nomad Visa
The last few months had helped everyone adjust to the remote working routines. However, Columbia was able to take a step ahead and hosted the Columbian Freelance Visa. You might have not heard about it before, but it was able to employ good resources from across the globe. It allowed the international freelancers to qualify for the process and stay in the country for up to 3 years. During this time, they could work remotely in the Columbian businesses and organizations within the national territory.
7. US’s Flexible Work Arrangement
The demand for achieving a work-home balance has gone up in popularity. Most of the workforce and employers are willingly moving towards achieving it. It allows the employees to balance out their work and home life effectively. With the evolving business landscape, we now wake up to a day where working couples have to manage the finances and home chores together. Resultantly, the US has taken a lead and is now supporting this shift. Only 17% of the US households are considered traditional, with the man working and the wife being the homemaker.
However, the introduction of teleworking during the reign of Obama gave the employees more control over their schedules in meeting professional responsibilities. Along with that, it was able to offer work-life balance, reduced office distractions, and also more control when working from home.
8. Luxembourg’s 13-month Bonus
Luxembourg may be a small country but it’s surely on top when searching out for the country with the best work benefits. The employees get some cool perks like luncheon vouchers to pay for the meals to avail a company car that can be used for office and personal reasons.
In addition to this, employees are also eligible to receive the thirteenth-month bonus. This comes up when an employee completes the entire year of service, and one month’s additional salary is paid, allowing the employees to make the most out of their living and vacation time.
Keeping the Connection Alive
Benefits, allowances, grants, etc. are simple mechanisms to keep the spirit of the employee alive. It remains an effective method to retain and uphold the employees. Nevertheless, employees work towards achieving the company goals and objectives. In doing so, the national employment policies like the UAE Labour Law to the Digital Nomad Visa of Colombo can provide an adequate enabling environment for the employees and employer to grow together.
UAE is the best for employee benefits.