End of service benefits – The elephant in the room
The provision of staff End of Service Benefits (EOSB) remains a major challenge for Middle East-based businesses. In the absence of forward planning, it can also present a significant financial risk when staff turnover is higher than anticipated or if the business lacks liquidity when payment is due.
Sovereign Corporate Services provides a bespoke solution that enables employers to build funds against their EOSB liabilities within an employee benefit plan. The advantages include:
- Reduced EOSB costs through early investment
- Increased ability to attract and retain the best talent
- Additional savings options for employees
- Facility to reward loyal and valued staff through extra provision
- Enhanced risk management by placing EOSB provision into trust
- One simple solution for an internationally mobile workforce
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Speak to Sovereign. To arrange an appointment with one of our corporate consultants click here or call +971 4 270 3400.