Empowering Your Career Journey

Those who monitor people die or worry and grief, or may develop FOMO.  This syndrome has become more prevalent with the emergence and proliferation of social media platforms, which allows us to monitor and track the events, daily lives and details of others.  This can lead to fear and anxiety about missing out.  This increases our ability to stay online and…most of the time.

FOMO

FOMO is an acronym for “Fear Of Missing Out”, which refers to the fear of missing out on something, an event or an opportunity.  The term originated in a 1996 research paper coined by marketing strategist Dan Herman, who observed that people panic about missing out on certain products, especially those on sale.  However, the FOMO phenomenon wasn’t widespread at the time, as people’s aspirations and needs were modest and unassuming.

However, with the emergence of Social-Media in the 2000s, FOMO became more prevalent and has been identified as one of the biggest causes of social anxiety in the current generation.  This is because the proliferation of Social-Media has given everyone the opportunity and ability to monitor and compare the lives of others, which can leave us feeling like we are not spending our time well and unable to make it enjoyable!  This in addition to the constant feeling of missing out socially and educationally and that we are not making the right decisions.

FOMO is a cause of divorce for many couples, due to observing the lives of other couples, especially influences, and believing that their marriages are perfect and happy, unlike ours!  This leaves us with regret and missing out on a false sense of marital happiness!

JOMO ISTEAD OF FOMO

A study showed that 56% of Social-Media users suffer from FOMO.  The associate negative feelings were distributed as follows:

• 39% feel envy.
• 30% feel jealous.
• 21% feel disappointment and sadness.

Because happiness can sometimes lie in letting go of things rather than in attaining them, experts suggest that as a solution to the FOMO problem, you should become a JOMO, short for the phrase “Joy Of Missing Out”.  This involves not worrying about the occasions or interactions you’ve missed on Social-Media and focusing on the reality you are experiencing.

5 Tips to overcome FOMO

The beginning of the solution to overcoming FOMO is by acknowledging the problem, in addition to:

1. Practicing Mindfulness. This involves focusing on the present moment and the current experience, living it with full awareness and enjoying every detail, rather than dwelling on events you have missed or will miss.
2. Stay away from mobile phone for specific periods of time and limiting your browsing of Social-Media.
3. Quality matters more than quantity. This means focusing on the quality of the experiences and events you experience throughout your day, not their quantity.  Don’t be sad about the occasions and events you’ve missed, because it is impossible for you to attend them all.
4. Increase your sense of gratitude and contentment for all the blessings God has bestowed upon you. Thank him and be content with your life, instead of focusing on the lives of others on Social-Media and lamenting the experiences and adventures you’ve missed.
5. Always remember that you are more powerful than advertising offers. Don’t buy a product just because it has a tempting discount.

The international insurance rating agency “A.M. Best” has confirmed that the financial reforms undertaken by Algeria, coupled with recent economic developments, present a promising outlook for the national insurance market. These reforms are deemed "favourable for its transformation, particularly in light of changes in the regulatory landscape.

In its report titled "The Algerian Insurance Market: A Bearer of Growth and Expansion," “A.M. Best” highlights that demographic, economic, and regulatory advancements in Algeria serve as positive indicators for the insurance sector. The report asserts that Algeria's insurance market exhibits significant potential for growth, expansion, foreign investment attraction, and profitability.

The report emphasises that the financial reforms initiated will further enhance the long-term prospects for the expansion of this sector. It specifically notes the development of the insurance regulatory framework in the context of the new insurance law, which is currently being finalised. This new initiative primarily aims to stimulate market growth by introducing new business lines and developing underrepresented sectors, such as health insurance and property damage insurance.

“A.M. Best” also believes that the economic, financial, and demographic developments in Algeria provide the insurance sector with a competitive advantage compared to other countries in the Middle East and North Africa (MENA) region. These developments present both "opportunities and challenges."

Additionally, the agency highlights that Algeria's youthful population and the expansion of the middle class are key factors that will "boost demand for life insurance products.  This positions Algeria as one of the few countries in the MENA region showing significant interest in life insurance contracts.

Regionally, Algeria is noted to be among the five largest economies in Africa and the second largest economy in North Africa. The report highlights Algeria's more resilient economic recovery compared to its North African counterparts. The size of the Algerian economy and the high disposable income of its population are considered favourable factors for the growth of the insurance market, with an emphasis on the potential improvement in turnover recorded by insurance companies.

The report also mentions that the Algerian insurance market is recovering from the contraction in premiums experienced during the COVID-19 pandemic. Increasing insurance penetration and the sector's contribution to GDP are cited as challenges facing the industry in Algeria. According to the Algerian Federation of Insurance and Reinsurance Companies, the insurance sector reported a turnover of 131.7 billion dinars between January and September 2024.

“A.M. Best” headquartered in New Jersey, USA, is a specialized insurance agency that evaluates the financial solvency of insurance and reinsurance companies in over 100 countries, including Algeria.

When deciding on an OH services provider, it is essential to move beyond surface-level methods like simple checklists or obligatory choices made without careful thought. The quality of assistance offered to employees heavily relies on the specific services encompassed in the wellness packages under consideration. Opting for services solely based on their initial appeal can lead to a squandering of resources if they do not genuinely enhance your workforce.

To guarantee that the services you select truly benefit your employees, whether related to OH, Corporate Wellness, Accelerated Healthcare Services, Health Cash Schemes, Staff Perks Platforms, or other alternatives, it is crucial to consider the following essential factors:

1/ Benefits of Staff Using Services - Prioritise services that directly benefit staff. Therapy, Coaching & Self-Help Services offer more value than generic options like factsheets or helplines. Personalised services enhance staff well-being & productivity.

2/ Benefits for your Business - In considering benefits for your business, it's crucial to focus on services that offer true value beyond simple perks. Prioritise creating a symbiotic relationship that benefits both the company & its employees. Key advantages include increased productivity from content & healthy employees. Seek services that support employees when needed most, like mental, physical health treatments, counselling, physiotherapy, optical & dental care.

3/ Staff Utilisation of the Service - To ensure cost-effectiveness, consider how & when staff can access services. Online access, through a client portal or smartphone app, is the preferred method. It allows employees to explore services independently, assess suitability & engage at their own pace. Services are available 24/7 for convenient, private access.

4/ Ensuring Accurate Usage Measurement - To measure usage accurately, be wary of manual usage reports from unverifiable sources. Instead, monitor usage in real-time online for reliable statistics. This feature is easy to implement for organisations, so its absence may signal a deliberate choice.

5/ Assessing Service Value - When evaluating services, it's crucial to determine if they provide good value for money. Price matters but doesn't always reflect quality, especially in brands focusing on recognition over service quality. The service's impact on staff & outcomes also affects its value. Services benefiting both employees & employers are seen as offering superior value.