GRiD: 76% of employees consider financial support most important if they were unable to work long-term

According to the latest research conducted on behalf of Group Risk Development (GRiD), employees believe that the prospect of financial support when deciding on employment is crucial.

Related topics:  GRiD,  group benefits
Protection Reporter
3rd July 2023
Employees and Money
"Organisations that offer employee benefits such as group risk can give their employees real peace of mind that should the worst happen, their employer has taken steps to provide for them and their family."
- Katharine Moxham, spokesperson for GRiD

Of those surveyed (1,212), 76% of employees thought that if they were unable to work long-term after ill health, disability, or injury, financial support for themselves and their dependents would be crucial. This was followed by physical health support (64%) mental health support (63%), and social wellbeing support (48%).

In light of these findings, Group Risk Development (GRiD) believes more employers should invest in group risk benefits such as non-NHS GPs, medical treatment, mental health first aiders, and counselling. Similarly, for those that already provide financial support, there should be a focus on communicating with employees so they understand how to access it.

With financial vulnerability at the forefront of employees’ minds, GRiD believes employers who are currently recruiting or trying to retain staff must offer financial support or they may find themselves on the back foot.

Commenting on these findings, Katharine Moxham, spokesperson for GRiD, has said: 

“It’s natural for employees with dependants to be concerned about how their loved ones would cope financially should they become incapacitated through illness or injury or were to pass away. However, the cost-of-living crisis gives an added dimension to this apprehension with everything, from mortgage payments to food costs on the rise.”

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