"Small businesses depend on a healthy workforce – when employees are unwell, the impact on productivity can be significant."
- Chris Morgan, head of proposition & product strategy for protection at Canada Life
Of those surveyed (550), 82% provide staff with at least one employee benefit/service.
The most common employee benefits offered by micro, small & medium sized enterprises (SME) are virtual mental health counselling and self-help stress management tools (28%), followed by Private Medical Insurance (PMI) (27%) and annual health checks (26%).
Although 20% of employers offer Group Critical Illness (GCI), just 14% have invested in Group Income Protection (GIP).
Meanwhile, 21% provide access to Employee Assistance Programmes, 16% to occupational health services, and 12% to virtual GP appointments.
90% of SMEs agree that virtual mental health counselling and self-help stress management tools are effective, as well as occupational health services (90%), and GCI/GIP (88%).
Likewise, 92% think virtual GP appointments and PMI are effective for reducing absenteeism.
Chris Morgan, head of proposition & product strategy for protection at Canada Life (pictured), highlighted, “Small businesses depend on a healthy workforce – when employees are unwell, the impact on productivity can be significant.
“It’s encouraging to see some SMEs are investing in health & wellbeing benefits, but it’s vital they regularly assess whether these benefits are effectively supporting their employees’ health and workforce productivity.”
These figures follow recent research published by Group Risk Development (GRiD), which found just 12% of employers focus on preventative support in the workplace.
READ MORE: GRiD finds just 12% of employers focus on preventative support in the workplace
“Organisations that integrate support through employee benefits will be better positioned to meet the needs of their staff and are likely to be better prepared for any policies or recommendations that arise from the ‘Keep Britain Working’ Review,” said Katharine Moxham, spokesperson for GRiD.
