ProtectionDec 1 2015

‘Group PMI not enough to improve employee well-being’

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‘Group PMI not enough to improve employee well-being’

Advisers need to help their small corporate clients implement good group PMI cover that helps employees get back to work, specialists have claimed.

With British companies losing £57bn in lost productivity a year through employee sickness, Debbie Kleiner-Gaines, head of client relations at insurance consultancy PES, said businesses should look for a broker with experience of health benefits as a whole and not just PMI.

Ms Kleiner-Gaines said: “There are many products that fall under the health benefits banner that can support this issue businesses have with absenteeism. Also, there are a lot of statistics that show that a large percentage of absence is linked to mental well-being/health.

“Any business should first look at engaging with an employee risk assessment survey which covers simple questions related to stress as well as physical health. This can help them pinpoint why their employees are absent and help employers decide which approach to take as part of an integrated well-being approach.”

Shaun Subel, director at VitalityHealth, said: “Data shows that organisations with an authentic and positive culture of wellness see increased productivity from their employees. We would therefore urge all companies, big or small, to protect their bottom line by taking an active role in improving employee well-being.”

Adviser view

Dan Parker, director at Gloucestershire-based Switch Health, said: “It’s much easier to get treatment quicker if you have PMI. Tax implications are quite a big factor, together with the attraction of a private medical package for prospective recruits to the company.”