Small firms in the UK are losing out as it has been discovered that almost 25 per cent of SME businesses have never heard of group income protection products. Legal & General carried out the survey and a further two fifths of those surveyed had heard if IP but hadn’t familiarised themselves with what products could be obtained.
L&G had warned that a continued lack of awareness of these programmes could be hampering company’s absence management schemes and could potentially damage income and company resource. It is rather surprising and a little worrying that smaller businesses aren’t taking full advantage of corporate healthcare schemes like IP and can really hamper the productivity of a smaller company and would have a more noticeable knock-on effect.
Larger companies are more inclined to educate and inform their staff on matters such as health benefits, wellbeing schemes and suchlike. The numbers of large companies offering things like weight watchers, gym memberships and medical insurance is on the rise and is very much within the fabric of many big businesses across the UK.
It is plainly clear that in order to sustain good small business absence records then informing staff about IP products can be a stepping stone to that. Providing good quality support in the workplace can be invaluable to employees.






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