When asked which benefits employers are most likely to offer, only 49% said they consider benefits which support all employees. GRiD, the industry body for the group risk sector, says it would like to see this figure significantly increased.
Katharine Moxham, spokesperson for GRiD said: “Employees are a company’s biggest asset, and all need to be supported. It makes good business sense that employee benefits are targeted at the needs of the masses and not the few.”
Employee Benefits were once seen as a perk, traditionally focused on rewarding senior management. Indeed, thirty-one percent1 of employers said they look at benefits that focus on their management teams, however, the support inherent within benefits has widened, and is designed to be offered to all staff.
Anyone can be affected by physical, mental or financial ill-health: it doesn’t discriminate by level of seniority, so all need to be supported. Levels of absence and long-term sickness are at a record high, and this is reflected in increased utilisation of support within employee benefits: the need to provide access for support to all has never been greater.
Moxham continued: “As an industry, we see the difference that support for physical, mental and financial health makes: from early intervention and prevention, helping employees to continue to work, to supporting people if they’re unable to. Of course this benefits the individual, but it’s a great benefit to the business too.”
Group risk insurers provide a wide range of health and wellbeing support which can be accessed without a claim being made. These are all designed to help a company provide support for health and wellbeing, and can be used daily by employees, line managers, HR and business owners alike.
