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Suprising data from a workforce survey by GRiD reveals just how unprepared UK employees are for the possibility of long-term sick leave. It highlights the importance of Group Risk insurance in providing supportive and reassuring employee benefits, such as Group Critical Illness and Group Income Protection insurance.

How would your employees cope with long-term sick leave?

Employees were asked how they would cope financially if they had to go on long-term sick leave (i.e. for six months or longer):

  • 23% said they would not be able to support their family
  • 31% said they would have to limit spending to essentials such as food, drink, heating and gas

Employees were then asked how they would manage their debts in the same scenario:

  • 22% said they would resort to selling some of their valuables
  • 18% said they would turn to family members for money
  • 14% said they would hide bank statements from their partner in order to prevent panic

Only 12% of employers are helping by increasing their Group Risk spend

The research found the majority of employers could do much more to reassure and support their staff.

One positive statistic revealed by the study was that 12% of employers said they are looking to increase their group risk spends now that the recession is coming to an end, but only time will show how this translates into actions.

Why your workers deserve the support of employee benefits

Every organisation owes its success to its employees. A good organisation recognises this and rewards workers.

One of the best ways to show staff that you care is by providing them with reassurance through employee benefits packages. At Chase Templeton we specialise in finding the most cost-effective group insurance packages on the market for your company, at no extra cost to you. To find out more, give us a call today. We’ll explain everything clearly.

Data comes from a survey by Group Risk Development (GRiD), the UK trade body for Corporate Group Protection Benefits.