All Group risk articles – Page 10
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Supplier article
An employee benefit or an employee burden?
When you have taken the time to design an employee benefits package to help you attract and retain high quality individuals, the last thing you want is for one of your employee benefits to become an employee burden.Lump Sum Life Assurance is one of the most common employee benefits in ...
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Article31% of long-term sickness claims are for cancer
Just under a third (31%) of long-term sickness claims paid relate to cancer, according to research by Unum.Its second annual claims statement, which provides information on all the income protection claims paid by Unum to people who became too ill to work between 1 August 2015 and 31 July 2016, ...
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Case StudiesThe benefits offered by Countrywide Group
PensionGroup stakeholder pension scheme for 5,000 managers.Auto-enrolment pension scheme provided by the National Employment Savings Trust (Nest) for the remaining 7,000 employees, with contribution levels at 1% for employer and 1% for staff.Healthcare and wellbeingLife assurance, employer-paid for all staff at four-times salary for management, and at two-times salary for ...
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Case StudiesCountrywide aligns benefits and reward to help boost growth
Countrywide Group, the UK’s largest property services group, began the task of building a reward function in September 2014, when it drafted in Neil Goodwin, head of reward.He joined on the brink of a group-wide overhaul at the FTSE 250-listed group, which until then had just an operational human resource ...
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ArticleSpark commits to higher pay benchmark for staff
New Zealand-based telecommunications organisation Spark has committed to a higher pay benchmark for staff.Under the organisation's Spark Pay scheme, all non-commission based full-time employees will earn a minimum of $40,000 (£30,729) a year.Commission-based employees will be able to earn an average of $42,000 (£32,266) a year, although take home pay ...
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ArticleBriggs becomes chairman at ABI
Andy Briggs has been appointed the next chairman of the Association of British Insurers (ABI). He will take up the role in October.Briggs, who is chief executive officer at Aviva UK Life and chairman at Aviva Global Life, succeeds Paul Evans, group chief executive at Axa UK.Briggs has been deputy ...
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Article43% would feel more valued if offered group income protection or critical illness cover
Just under half (43%) of respondents would feel more valued at work if their employer provider group income protection (GIP) or group critical illness cover, according to research by Canada Life Group Insurance.Its survey of 1,004 full and part-time employees also found that 29% of respondents would be more likely ...
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ArticleUK EXCLUSIVE: Arthur J Gallagher acquires Orb Financial Services
UK EXCLUSIVE: Arthur J Gallagher has acquired Surrey-based employee benefits organisation Orb Financial Services.Orb provides employee benefits consultancy and broker services, including group risk and healthcare, flexible benefits, benefit communications, workplace pension schemes, travel and dental protection, as well as key person and partnership protection.The acquisition is aimed at bringing ...
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ArticleHow to determine which group risk benefits best suit an organisation
Need to knowMany employers take a one-size-fits-all approach to group risk benefits, but some offer employees choice through flexible or voluntary benefits schemes.Employers can use data sets such as claims data, absence data and occupational health data to form a health-risk profile, which can then determine which group risk benefits ...
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OpinionKatharine Moxham: No employee should be without group risk protection
In the quest to offer a package that appeals to different generations and sectors of the workforce, there can be a tendency to over-focus on choice and flexibility, when there are some benefits that every member of the workforce needs. Take the case of a young unmarried person who might ...
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ArticleHow to best educate staff about group risk benefits
Need to knowEmployee benefits communication strategies should focus as much on the value of group risk provision as they do on workplace benefits such as pension schemes.A poor grasp of the financial implications of long-term sickness absence among staff has made income protection cover an increasingly important group risk benefit.Employees ...
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OpinionJoe Ahern: Group risk benefits and the work and health agenda
The changing nature of the UK workforce, driven by an ageing population, presents huge challenges for policymakers, businesses, and other stakeholders. Group risk benefits have a vital role to play in meeting this challenge. Group life, group critical illness, and group income protection (GIP) all address specific risks that are ...
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ArticleGroup risk benefits in numbers
A round-up of statistics relating to group risk benefits provision:30% of group income protection claims in 2015 were due to mental health issues (Source: Legal and General) bit.ly/1XnRzfK32% of employee respondents believe critical illness cover is the most important benefit when working past 65 years (Source: Canada Life Group insurance) ...
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AnalysisInfographic: What benefits do staff value the most?
An infographic looking at the benefits offered by employers compared with the benefits that staff value the most. (Source: Aviva's Working lives report 2016, published in March 2016).Read more in: How can employers gauge a return on investment on group risk benefits?
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ArticleInfographic: What group risk benefits do organisations offer?
An infographic looking at the group risk benefits offered by respondents' organisations and the basis on which they are offered (Source: Employee Benefits/Xerox HR Services' Benefits research 2016, published in June 2016).Read more in: How can employers gauge a return on investment on group risk benefits?
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Case StudiesSamsung offers group risk benefits in line with corporate culture
Samsung offers its workforce group income protection (GIP) and life insurance in line with its paternalistic corporate culture.Jo Bean, head of reward, UK and Ireland at Samsung, says: “We’re quite a paternalistic [employer], so we’ve always offered [GIP] as a core benefit. I particularly like the fact that our [policy] ...
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ArticleHow can employers gauge a return on investment on group risk benefits?
Need to knowWhen calculating the return on investment on group risk benefits, organisations need to start with accurate employee data.The value-added products available through group risk products can deliver cost savings.Non-financial returns such as engagement are of increasing interest.Employee benefits professionals are under increasing pressure from their finance directors to ...
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Article47% prefer better benefits package to higher wages
Just under half (47%) of UK respondents would prefer to have a better benefits package which included income protection than accept higher wages, according to research by Zurich and the Smith School of Enterprise and the Environment.The 2016 Income protection gaps: challenge and opportunity report, which surveyed 11,000 people from ...
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ArticleEXCLUSIVE: 84% offer life assurance as a group risk benefit
A large proportion (84%) of respondents offer employees life assurance, also known as death-in-service benefit, as part of a group risk offering, according to research by Employee Benefits and Xerox HR Services.The Benefits research 2016 report, which surveyed a total of 338 respondents in May 2016, also showed that 87% ...
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ArticleLegal and General launches two-year income protection plan
Legal and General has updated its income protection benefit offering with the launch of a two-year limited benefit plan.Available via intermediaries from June 2016, the plan is set to replace the insurer's current five-year version.The updated plan will permit multiple claims, with each individual claim allowable for a maximum duration ...