News – Page 2
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Article80% of employers find absences difficult to record
Four in five employers that measure the impact of sickness absences admit it has become more difficult since Covid-19 (Coronavirus).According to research undertaken on behalf of Group Risk Development (Grid), while 85% of UK organisations record employee absences, just 63% actually measure the impact of sickness absence on their business. ...
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ArticleGroup risk industry paid record claims to employees in 2020
Research by Group Risk Development (Grid) has revealed the UK group risk industry paid a record £2.01 billion in claims to employees and dependants in 2020.This is equivalent to £5.5 million a day and an increase of £255.7 million since 2019. A total of 4,476 employees were helped back to ...
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ArticleOver 13 million people covered by group risk schemes in 2020
The annual Swiss Re Group watch report 2021 has revealed that the number of in-force group risk policies in place grew by 3.6% during 2020 compared to 2019.This equates to a rise in the number of people covered of 150,000, taking the total number to more than 13.3 million people ...
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ArticleGroup protection usage hit by data privacy fears
New research has suggested that slower-than-anticipated uptake of some group protection benefits may be due to data privacy fears.According to a study by Legal and General, 19% of staff questioned who had access to employee assistance programmes (EAPs) revealed that privacy concerns were a barrier to usage – a figure ...
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ArticleGroup life insurance pays out £93m in employee-related Covid claims
New data has revealed the extent to which group life insurers have paid out claims related to the deaths of employees due to Covid-19 (Coronavirus).According to figures released by Group Risk Development (Grid) for the year to 31 December 2020, payouts were given to the dependents of 891 employees with ...
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ArticleStaff feel disconnected from group protection
Research by Legal and General has found significant levels of employee disconnect with group protection, with only 16% of those polled believing employee assistance programme (EAPs) are very relevant to their health needs.Data – compiled after polling more than 1,000 UK workers with access to income protection, critical illness cover ...
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ArticleWorkers demand more financial protection
Covid-19 (Coronavirus) has caused a surge in employee demand for greater employer-provided financial protection, according to a new study.AIG, which commissioned research among nearly 1,000 workers, found 37% said the pandemic had caused them to consider that life insurance, income protection or critical illness should now be offered by their ...
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ArticleEmployers embrace wellbeing benefits
Group risk industry body Grid has unveiled what it calls an “encouraging increase” in employer-provided wellbeing benefits provision in response to Covid-19 (Coronavirus).In a poll of HR directors, it found 48% now felt they had greater responsibility for the mental health of their staff than they did before the pandemic. ...
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ArticleMorrisons wins appeal at Supreme Court over payroll data breach
Supermarket retailer Morrisons has won a Supreme Court appeal over whether it is liable for the criminal act of an employee who leaked payroll data of around 100,000 members of staff.Morrisons brought a Supreme Court challenge in an attempt to overturn a ruling which gave the go-ahead for compensation claims ...
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ArticleFinancial issues affect the mental wellbeing of 51% of millennial employees
Employers are concerned that over half (51%) of millennial employees have a high rate of stress and anxiety when it comes to finances and debt, according to new research by Group Risk Development (Grid).Respondents voiced concerns that money issues affect the health and wellbeing of their millennial employees, those aged ...
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ArticleEXCLUSIVE: Virgin Atlantic reinvigorates benefits package for 10,000 employees
Employee Benefits Live 2019: International airline Virgin Atlantic has reinvigorated its wellbeing approach and employee benefits package to better reflect and accommodate its growing workforce.Josie Lazenby, senior manager, wellbeing and benefits at Virgin Atlantic, discussed the benefits refreshment journey during the conference programme at Employee Benefits Live 2019 on Tuesday ...
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ArticlePoll: 27% offer insurance benefits to support staff working with cancer
Employee Benefits poll: More than a quarter (27%) of Employee Benefits readers offer staff who are working with cancer insurance benefits, such as income protection or critical illness insurance.A straw poll of www.employeebenefits.co.uk readers, which received 26 responses, also found that 23% of respondents support staff experiencing cancer by providing ...
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ArticleTwo-fifths of employees with cancer value reduced or flexible hours
Approximately two-fifths (42%) of employees who have been diagnosed with cancer state that being offered reduced or flexible hours is one of the most valuable ways employers can help support them through treatment, according to research by Unum.The survey of 300 UK employees who have been diagnosed with cancer in ...
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ArticleEXCLUSIVE: The majority of organisations do not offer personal insurance benefits
EXCLUSIVE: Most organisations do not provide personal insurance benefits, and few plan to begin, according to research by Employee Benefits.The Benefits research 2019, which was published in May 2019 and canvassed the views of 290 HR decision-makers, also found that of those personal insurance benefits offered by employers, travel insurance ...
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ArticleEXCLUSIVE: Seven in 10 offer life assurance to all employees
EXCLUSIVE: Nearly seven in 10 (68%) employers offer life assurance to all employees as part of a core package, according to research by Employee Benefits.The Benefits research 2019 surveyed 290 HR decision-makers and was published in May 2019. It also found that, overall, 86% provide life assurance in some form; ...
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ArticleTwo-fifths used return-to-work support for mental health conditions in 2018
In 2018, almost two-fifths (39%) of employees made use of return-to-work support following time off for mental health conditions, such as stress and anxiety, according to research by employee benefits provider Unum.The Sickness absence and return to work trends report, which analysed access to Unum’s rehabilitation services in the UK ...
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ArticleFlexible working valued by a third of those likely to work past age 65
The majority (71%) of employees plan to work beyond the age of 65, and 32% feel that flexible-working initiatives are the best way to attract and support older employees, according to research by Canada Life Group Insurance.The survey, conducted among 1,002 full- and part-time employees in April 2019, also found ...
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ArticleA third plan to work past age 65 because their pension is not sufficient
Around a third (32%) of respondents plan to work beyond the age of 65 because their pension savings will not be sufficient to allow them to cease earning a wage, according to research by Canada Life Group Insurance.Its survey of 1,002 full and part-time employees also found that 25% believe ...
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ArticleTwo-fifths are most interested in receiving paid annual leave as employee benefit
Two-fifths (44%) of employee respondents are most interested to receive between 22 and 35 days of paid annual leave as an employee benefit, according to research by insurance organisation Aviva.Its survey of 2,011 UK employees and 502 managers with recruitment responsibilities further found that other workplace benefits staff are most ...
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Article£1.68 billion paid in group risk claims in 2018
More than £1.68 billion was paid out by the group risk industry over 2018, demonstrating a £64.5 million increase on 2017, according to research by industry body Group Risk Development (Grid).The research, based on claims data from Grid’s provider members, also found that 26,505 claims were made in 2018 for ...