By: Dina Fakih, Principal, Risk Advisory, Deloitte Middle East
The key to any organization’s success is its people. This doesn’t necessarily mean you need to throw a birthday party for all of your employees, but rather make them feel appreciated and valued. The quality of your employees’ work is determined by their level of comfort and involvement in the organization. For this reason, workers’ welfare is not an extra cost, but an important investment as it increases productivity and reduces risk. The potential opportunities this creates are endless.
Workers’ welfare is a big part of social sustainability that more and more businesses plan to implement and execute. However, not all are succeeding in catering to the unique needs of their employees. One of the biggest obstacles that has led to the different welfare plans across industries is the lack of understanding on what welfare means.
Workers’ welfare does not only refer to a decent salary or insurance plan, it also consists of expressing genuine concern and priority for your employees. This means actively listening to their concerns, responding in a timely matter, and catering to their individual needs.
Workers’ welfare refers to the protection and safety of employees by adopting the Workers’ Welfare standards and abiding by other legal requirements. In terms of welfare when it comes to construction, the elements include ethical recruitment, accommodation inspection, and construction site safety. This means that the employer is liable for any mishap that occurs from the hiring process to the completion of the project/employment contract. It is the employer’s responsibility to ensure the safety and health of its employees in the workspace and on construction site. For this reason, it is not enough to just meet the requirements, employers now need to go the extra mile to fully ensure that each individual is taken care of as per their individual cases need.
Investing in workers’ welfare results in deeply rooted sense of loyalty in the workforce, more productive employees, attracting new talent, and potential collaborations with other well-respected companies. This, in turn, results in an improved reputation, a motivated team, and broadens the scope of potential business opportunities.
If implementing workers’ welfare will contribute toward both success and sustainability, then what are you waiting for?
If you want to read more on the subject, click here to go to the full article available in the latest issue of Deloitte’s Middle East Point of View magazine.
The views and opinions expressed herein do not represent nor reflect those of Deloitte. Deloitte shall endeavor, as reasonably as possible, to screen such information which is obtained, to the best of Deloitte’s knowledge, from reliable source. As such, Deloitte cannot guarantee the accuracy of the information featured nor the validity of the opinions and/or analysis and interpretation expressed herein. Opinions, conclusions and other information in this interview/article which have not been delivered by way of the business of Deloitte are neither given nor endorsed by it.
This article contains general information only, and neither DME, DME affiliates nor any of Deloitte Touche Tohmatsu Limited member firms are, by means of this article, rendering any accounting, business, financial, investment, legal, tax, or other professional advice or services of any nature whatsoever. Information included in the article is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your finances or your business. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. None of Deloitte Touche Tohmatsu Limited, its member firms, or its respective affiliates shall be responsible for any loss or damages whatsoever sustained by any person who relies on this publication.