Social security is a daunting challenge for small and medium-sized enterprises (SMEs) in today's dynamic business environment. As a result, employees face a hard-to-swallow deduction from their salaries. Employees want stability, security, and access to a wide range of investment options to build their wealth, regardless of their background.
In today’s business environment, SMEs face challenges with social security impacting employees' financial stability and desire for diverse investment options. Companies struggle with employee retention due to salary increases. A BCG study shows 70% of UAE employees consider changing jobs for better benefits.
Global markets have addressed these issues with defined contribution plans such as the 401k. Exemplary leaders like Reem Ikram are reshaping social security by offering an interactive investment platform in the MENA region.
Reem’s journey started in Germany selling stones as a child, sparking her financial interest. She modernized her family’s business and navigated challenges in Saudi Arabia's private equity industry. The complex expat pension system inspired Reem to create ThriftPlan, a platform addressing financial preparedness for future generations.
Her platform aims to redefine social security by providing interactive investment options for both employers and employees. Reem’s vision and experience highlight the need for innovative solutions to financial challenges in today’s dynamic business landscape.
ThriftPlan, founded in 2019 in Riyadh, aims to address the challenge of financial security in the MENA region, particularly in the face of limited social security. By promoting Workplace Saving Plans, which have a market value of over USD $7 trillion in the US, ThriftPlan is revolutionizing saving solutions in line with Vision 2030.
The company focuses on increasing financial literacy and changing mindsets to encourage saving among the young population. Reem and her team are leading the charge by automating processes and providing digital learning opportunities. By empowering employees to contribute to defined contribution plans directly from their salary, ThriftPlan promotes loyalty and retention within companies.
The company also offers personalized advisory services and educational content to create tailored saving solutions for each organization. Through her dynamic leadership style, Reem ensures that no task is too small and always has contingency plans in place.
She believes in the importance of businesses addressing social issues alongside profitability, finding motivation in the impact she has on her community and stakeholders.
Reem defied skeptics who deemed her aspirations impossible and persevered to achieve remarkable success as a leader of ThriftPlan. The company under her guidance has garnered prestigious accolades, including being recognized as the most innovative corporate saving solution in KSA.
Reem emphasizes the importance of seizing opportunities and staying proactive in a dynamic business environment to drive growth and evolution. Beyond her professional endeavors, she finds solace in hobbies such as horse riding, jogging, and reading, which provide her with much-needed relaxation.
Reem imparts valuable advice to aspiring leaders, urging them to believe in themselves and use others' doubts as motivation to excel. Her story underscores the power of resilience and determination in overcoming challenges and realizing ambitious goals.
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