TAKAUD, the specialist provider of pensions, savings, and investment solutions for the MENA region, recently honoured three Bahraini firms that care for their employees by offering comprehensive benefit programs.
TAKAUD introduced the Award for Excellence in Human Capital Management among Bahrain SMEs earlier this year and received a number of high-quality applications. The awards were granted by Mr. Samer Khanachet, Chairman of TAKAUD, at a special ceremony in the Company’s Diplomatic Area head office. Senior representatives of Tamkeen and the Bahrain Development Bank were in attendance. From Tamkeen, Dr. Yousuf Dashkooni, the Chief of Corporate Services and Mr. Ahmed Hassan Janahi, the Manager – Community Engagement, attended. From the Bahrain Development Bank, Ms. Shaima Al Mahmood, Senior Manager, Recruitment and Staff Affairs, also honoured the winners with her presence.
The winner of the Gold Award of Excellence, which includes a cheque for USD 5,000, is the Bahrain Institute of Banking and Finance (BIBF), which was established in 1981. The BIBF provides training and development, thought leadership, research and advisory services in accounting, finance, banking and related services. From their earliest days, with 450 applicants in the first year, they now draw more than 20,000 participants annually, and have served a total of more than 340,000 learners since their inception. The Bahrain Institute of Banking and Finance was represented at the ceremony by Dr. Ahmed Al Shaika, Director.
The BIBF has 120 employees, more than 50% of whom are Bahraini, and offers an employee savings plan in which they match employees’ contributions up to 5% of salary. In addition, they provide a full suite of medical benefits as well as club subscriptions, schooling allowances including university, professional services, deferred bonuses, gym memberships and travel insurance.
The Silver Award of Excellence recipient is Cityneon Middle East. This company started out in 1994 as a supplier of electrical appliances and today provides holistic brand experiences through architecture, experiential environments, events and exhibitions. Mr. Yousif Fakhroo, Cityneon’s Director of Admin and Logistics, attended on behalf of the Company.
With a staff of 100, which is 40% Bahraini, Cityneon provides benefits such as medical, dental, maternity, critical illness, life and disability coverage, deferred bonuses for all staff, stock options for management, and travel insurance. They also ensure that all staff take their allotted vacation time.
The winner of the Bronze Award of Excellence is the Bahrain Flour Mills Company, a Bahraini company established in 1970. With 90 staff, 93% of whom are Bahraini, they produce different types of flour for the country’s hotels, restaurants, bakeries and markets. Ms. Fatima Alsammak, HR and Admin Officer, accepted the award on behalf of the Company.
Among the benefits the Bahrain Flour Mills Company provides to staff or management are medical and critical illness coverage, dental and optical, deferred bonuses and travel insurance.
“We were pleased with the quality of applications we received for the Award for Excellence in Human Capital Management,” said Jonathan Kemp, TAKAUD’s Chief Actuary.“These companies show that it isn’t only the largest companies that can treat their employees well and offer attractive and competitive benefits. Every organisation can do something to make their employees’ lives better. At TAKAUD we are committed to supporting this kind of initiative among SMEs and all employers.”
The Award for Excellence in Human Capital Management, Bahrain SMEs, will be offered again in 2018 and is open to all Bahraini companies with 20 to 200 employees.