Recently on 12th May 2022, Abdulrahman Al Awar, the Minister for Human Resources and Emiratisation, announced the new changes in the Unemployment insurance scheme to ensure income support for the unemployed individuals for a short period of time until they get a suitable job in the Emirates. It will be applicable from 2023 and the individuals from both the private and public sectors will get ample benefits from it.

This newly introduced policy will also give best-in-class HR consultancy firms like TVG in the UAE a chance to help unemployed individuals to grab the most relevant job opportunities according to their skillsets and qualifications.

There will be specific eligibility criteria to make the best use of this unemployment insurance in the UAE. Individuals from all nationalities will be eligible to apply for this unemployment insurance. However, there will be certain individuals who might not get benefits from this policy. These individuals will include temporary contractors, domestic workers and retirees who are currently getting a pension. Besides that, the individuals who are under eighteen years of age or the investors currently residing in the country will also not be able to take part in it.

As per the statements by Al Alwar, this unemployment insurance will bring stability to the system while attracting talented working professionals to the Emirates. According to the scheme, the current employees will have to contribute a small part of their pay to the unemployment insurance through a professional insurance provider. These payments will be done annually depending upon the suitable plan decided between the worker and the insurance provider.

The experts at TVG will help the unemployed individuals who will be taking the advantage of this insurance to grab the suitable job option as per their skills during their unemployment period. TVG is a world-class business consultancy and management firm in Dubai that has been helping individuals set up a company, grow their business, and hire the best talents for their organization across the Emirates.