Press release 5 April 2022.
Sixty per cent of HR decision-makers have not reviewed the corporate identity of their organisation in light of the pandemic, according to research* from GRiD. The industry body for the group risk protection sector believes this is a missed opportunity as employers are now competing for talent and employees are seeking out employers who are visible and genuine in their approach to supporting staff.
Katharine Moxham, spokesperson for GRiD said: “The job market is pretty brutal for employers right now. However, those organisations who took steps to support their staff during the pandemic and whose reputation was subsequently enhanced should be feeling more confident. Those whose corporate identity remained as words and not actions might be feeling less secure about meeting their recruitment needs.”
Of those employees who have considered their corporate identity following the pandemic, over half (52%) recognised that their employees needed more support, and repositioned themselves as a more caring employer by giving extra support and benefits. Forty-two per cent also recognised that they needed to build back stronger and for that to happen, employees needed to be better supported to remain fully engaged and productive. Thirty-six per cent recognised they needed to engage and support staff to prevent them from leaving.
Katharine Moxham continued: “There is a great deal that employers can do to create a positive external perception of themselves. This includes paying well, offering training, ensuring technology is an enabler, offering flexibility, and keeping in touch during remote working etc. However, employers need to go further and offer employees tangible support for their health and wellbeing if they want to add real value to their corporate identity.”
The pandemic caused many people to have a renewed focus on their own health and wellbeing and GRiD believes that this is being transferred to the workplace. Employees are reluctant to return to highly stressful environments which put pressure on physical and mental wellbeing. Instead, they want a supportive environment where their health and wellbeing truly matters. They’ll be looking more closely at the corporate identity of employers, and choosing to work for ones that embody a culture of support. Offering benefits that support health and wellbeing is one way that companies can demonstrate what their corporate identity means in practice, and that can be a real differentiator.
Katharine Moxham said: “Employee benefits and wellbeing support were perhaps not previously considered as having too much of a material impact on an organisation’s corporate identity but the pandemic really changed things. Some employers truly embodied their vision, mission and values in the way they treated and supported their staff, others less so.
“Supporting the health and wellbeing of current employees can have a very real impact on an organisation’s corporate identity and employers who recognise this will be ahead of the curve in attracting new staff.”
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Notes to editors:
*The research was undertaken by Opinium during January 2022 among 501 HR decision-makers and 1,212 employees at UK businesses.
For further information please contact:
SMUK Marketing and PR
Mob: 07747 611773
Land: 01252 843350
Spokesperson for GRiD
Mob: 07887 512508
Notes for editors
Group Risk Development (GRiD) is the industry body for the group risk sector, promoting the value to UK businesses of providing financial protection for their staff, enhancing their wellbeing and improving employee engagement. Our membership includes insurers, reinsurers, intermediaries and those operating in (or with other interests in) the UK group risk market. Together this forms a collective wealth of experience built over many years. Under the chairmanship of Paul White (head of technical, Howden Employee Benefits & Wellbeing) GRiD aims to promote group risk through a collective voice to Government, policymakers, stakeholders and employers.
GRiD works with government departments and regulators involved in legislation and regulation affecting group risk benefits, and with other organisations involved in the benefits and financial protection arenas. GRiD also seeks to enhance the industry's standing by encouraging best practice and by participating in industry-wide initiatives such as the professional qualification in group risk managed jointly with the Chartered Insurance Institute.
GRiD’s media activity aims to generate a wider awareness and understanding of group risk products and their benefits for employers and employees.
GRiD's dedicated spokesperson, Katharine Moxham, provides expert media comment on a full range of group risk issues.
Follow Katharine Moxham on Twitter @KMoxham