Group benefits market could grow in 'big society'

clock • 2 min read

Increasing concerns from employers about workplace wellbeing could see a growth in demand for group healthcare benefits, according to new research.

The report from Simplyhealth shows three-quarters (75%) of businesses now believe in being accountable to their employees in all aspects of health and wellbeing including those outside work.

And one third (33%) say they will be looking to increase their range of healthcare benefits out of concern for their employees' wellbeing.

However, the healthcare provider's bothered Britain report shows that the tough economic times are not yet over, as 37% of companies are currently enforcing a pay freeze.

With the Government introducing its 'big society' approach while cutting back on state spending, the survey asked how businesses felt they sat in the scheme.

Almost four in five believe they have a responsibility to positively contribute to society, but 49% say they have not been provided with enough information on how they fit into the concept.

James Glover, corporate sales and marketing director at Simplyhealth believes it's apparent that companies are seriously considering the role they play in supporting employees and the greater good.

However, he notes that the lack of information provided so far suggests that wider education is needed if they are to provide valuable support.

"Nevertheless, with a possible reduction in public services such as the NHS, companies may be looking to introduce a more comprehensive health and wellbeing strategy," he says.

Alex Picard, senior consultant at PMI Health Group, has witnessed this trend percolating through from employers over recent months.

"We are experiencing, aside from the traditional healthcare benefits, that there is interest in a wider range of wellbeing packages," he says.

"We've certainly been looking at offering, from a number of providers, advice and initiatives that employers can offer to their employees around diet, fitness and exercise.

"While it's hard to get tangible costing benefits from these, there is a feeling that employers are engaging with plans that can have advantages on productivity and workplace attendance.

"I think people are starting to see the value in it and taking a more proactive approach," he adds.

 

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