Bayzat, a UAE leading employee benefits platform that helps companies automate their insurance, payroll and HR administration, has revealed that it is now more important than ever for the nation’s enterprises to reinvent the employee experience as post-COVID expectations take hold within the workforce. In 2020, the company recorded 30% growth in the total number of organisations using its employee benefits platform along with a 200% increase in monthly app usage, which translates to a better work life for more than 60,000 employees.
Bayzat highlighted that the pandemic served as a sweeping catalyst for change, as businesses learned important lessons through first-hand experience. “Because of COVID, companies recognised the importance of technology, to be sure,” said Tarek Bayaa, Co-Founder and Chief Commercial Officer at Bayzat, “But they also had to confront the importance of providing exceptional employee experiences. Moreover, with the seismic shift toward the digital-first workplace, whether streamlining internal processes such as HR and payroll, or prioritising the health and wellness of their employees, organisations realised they needed to make these services available at employees’ fingertips.”
Bayzat has spent a decade establishing itself as the UAE’s go-to employee benefits platform for companies that want to deliver truly exceptional experiences to their people. Bayzat’s offerings allow businesses to better cater to the needs of employees and drive efficiencies in the HR, payroll and insurance functions, leading to stronger growth in the bottom line.
“Millennials constitute more than half the UAE workforce,” Talal Bayaa, Co-Founder and CEO at Bayzat said. “These are digital natives who are very discerning when it comes to digital experiences, as both consumers and employees. It is little wonder, therefore, that during the lockdowns of last year, we saw a rapid escalation in Digital Transformation beyond the mere essentials of remote working and Business Continuity. There was a visible push from employees for their employers to deliver superior workplace experiences, and this explains why our value proposition has resonated so strongly of late.”
Bayzat’s market proposition has never been more relevant. One study of 1,000 employees in 10 countries, showed that COVID-19 had compelled employees to think more carefully about the entirety of their remuneration. Some 46% said the pandemic made them reappraise the value of their benefits when deciding whether to remain with their current employer. Bayzat enables organisations to address such concerns by providing access to insurance and financial benefits within the Bayzat app such as effortless access to top-tier mental-health support, online doctor consultation and prescription delivery services.
“This is the year of the employee,” said Brian Habibi, Co-Founder and CMO at Bayzat. “UAE businesses need to up their game in the employee experience arena to entice the best talent and compete. As a UAE-born company with compelling technology solutions that are ideally suited to this purpose, Bayzat is uniquely positioned to partner with such companies and empower them to effectively elevate employee experiences.”