According to a new survey from Jelf Employee Benefits, more employers are likely to support employee benefits following the Healthcare and Welfare reforms.
The survey showed that:
- 24% of employers at small- to medium-sized enterprises are more likely to support private medical insurance provision as a result of changes to the NHS
- 70% will maintain their current levels of provision
- 11% will be more likely to provide group income protection for employees as a result of changes to the Welfare State
- 79% will continue with current levels.
In addition to the reforms having a positive impact on employer-paid or contributed benefits, the changes may also be the catalyst for a greater provision of employee-paid medical and income protection: 48% of companies expect to add more voluntary (employee paid) benefits as a result of these reforms.
Steve Herbert at Jelf Employee Benefits says, “Employers are by no means immune from the impact of the government cutbacks on the individuals wellbeing – increased absenteeism is one obvious consequence that employers will have to face, as well as duties to those on long-term sick leave. While an employer can win some fairly obvious brownie points from employees by having a wider choice of benefit options in place, it also shows that employers are willing and able to ensure that their business is protected. Ensuring that key staff return to work at the optimum time – not before they are ready but without huge delays – will be vital in keeping small businesses, and the economy heading in the right direction.”