By Katharine Moxham 15 April 2020.
Employers have a huge amount to work through right now, given the current COVID-19 pandemic. From technical support for transitioning to working from home to retaining staff under new circumstances, such as with reduced hours or on furloughed pay. A number of companies are also looking to completely adapt their proposition, such as manufacturing a different product to support the NHS supply chain.
There’s a huge extra burden for companies to manage without even thinking about the benefits package. But that’s exactly where employers can find some help for their people, and benefits that provide financial support to employees when the worst happens really come into their own at times like these.
Group risk benefits are designed to provide financial support for staff at the worst of times – when they’re absent through ill-health, when they’re diagnosed with a critical illness or for their dependants if they die. It’s easy to overlook the value of such benefits during normal times, but many employers are now looking at these schemes to understand how to utilise them to support their staff, to understand how their insurance is affected by coronavirus, and to look at introducing them for the first time.
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