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Employers aren't utilising group risk products
12 January 2018
Two thirds of employers admit to not utilising all the benefits of group risk products for staff.
Only 32 per cent of employers say they make regular use of all the extra support within group risk products, according to a survey of 500 HR decision makers by Group Risk Development (GRiD).
Group risk products are insurance products covering critical illness, income protection, life assurance and similar policies.
Other respondents admitted to only using some of the support available, or using it fairly irregularly. Over one in ten organisations either did not use any of the additional support available via group risk products, or were completely unaware that any support existed at all.
GRiD, the industry body for the group risk protection sector, is urging employers to be vigilant to staff who may need extra help at this time, and also to encourage take-up of the support available via group risk products.
Katharine Moxham, spokesperson for GRiD said: “The support available via group risks products is wide ranging, from employee assistance programmes and fast-track access to counselling through to support for staff affected by a colleague’s stress. It can also include mental health first-aid training for managers to spot the signs of mental ill health and stress so they can be more effective in signposting staff to help.”