Kavan Choksi on Lowering Costs with Hybrid, Remote Work

Kavan Choksi believes cost increases are still affecting various industries globally. For example, businesses in the UAE have been paying more on fuel reimbursements for their employees after fuel costs increased by about 60% this year.

The amount that UAE companies spend each month on fuel reimbursements for their employees has climbed by over a third, according to Bayzat, an employee benefits platform. The organization also discovered that fuel reimbursements are among the most frequently requested by UAE employees and that the average value of each reimbursement has climbed by 18%.

Given the current business environment, Kavan Choksi thinks organizations must know exactly where their operating overheads lie. Having this level of granularity when it comes to employee expenditure data can help businesses adopt short-term strategies to determine efficiency improvement areas. As a result, they can navigate market conditions more effectively.

Demands for trip reimbursements have increased significantly, along with requests for fuel reimbursements. Data from the Bayzat platform revealed that, on average, UAE enterprises spent more than five times as much each month during the first half of 2022 on reimbursing travel expenses. The data also showed that, compared to January of this year, the average amount spent per travel reimbursement in June was 144% greater.

"It is impossible to safely infer that business travel has been on the rise as this reimbursement category potentially includes travel expenses such as employers' mandatory issue of annual tickets home for employees," said Bayzat.

Given these factors, Kavan Choksi believes switching back to remote or hybrid work might significantly lower gasoline expenses. Adopting hybrid and remote working could be an apparent answer to keeping fuel and trip reimbursement expenditures in check, as these practices have previously shown to be very beneficial in retaining employees' productivity and happiness. Additionally, the new generation of digital HR management tools makes it simple for organizations to maintain employee performance and check attendance.

Kavan Choksi thinks this adaptability will also increase the company's appeal as an employer to candidates and perhaps even increase employee loyalty. Flexibility should no longer be a bonus. Flexibility has become a minimal need when job candidates search for their next employment opportunity. Choksi also emphasizes how crucial it is to adjust to a changing work environment if you want to be the best contender for the position.

According to a poll, employers' requirements for talents and characteristics are also evolving. The five most wanted skills are the capacity to work independently, self-motivation and discipline, knowledge of virtual work tools, and written and verbal communication.

A new job application method has emerged due to the altered work environment.

The respondents shared their thoughts on the key elements of their job-seeking process. These involve developing a compelling online resume and cover letter, looking for work online, gaining new skills by taking online classes, thinking about freelancing and remote and part-time jobs, and going to virtual job fairs. Email, online job boards, social media, virtual job fairs, and instant messaging are the preferred ways for job searchers to get in touch with prospective employers.