Press release 1 March 2022.
According to research* from GRiD, the industry body for the group risk protection sector, employers feel a greater responsibility for supporting staff across the four key areas of mental, physical, social, and financial wellbeing as a result of Covid-19.
In research conducted from 14 – 26 January 2022 amongst 501 HR decision-makers, due to the pandemic:
- 59% of employers felt an increased responsibility for supporting the mental wellbeing of staff
- 57% felt the same increased responsibility for physical wellbeing
- 56% of employers felt an increased responsibility for supporting the social wellbeing of staff
- and 50% also felt the same increased responsibility for their employees’ financial wellbeing
In light of the pandemic, and this sentiment to take greater responsibility for employee wellbeing, two fifths (40%) of employers increased their communication about the support available to staff. Thirty-four per cent encouraged engagement and utilisation of support, and just over a quarter (27%) said that they had made it easier for employees to access support and benefits remotely, such as via apps and online. A quarter extended support beyond the individual employee to include family members, and 22% invested in new employee benefits to provide extra support.
Employees report deterioration in wellness
Further GRiD research, conducted amongst 1,212 UK workers between 14-18 January 2022, highlights the fact that employers were correct to take steps to provide and communicate support and benefits to staff. Thirty-eight percent of employees stated that their mental health had deteriorated as a result of the Covid-19 pandemic, 27% saw their physical health deteriorate and a further 27% had concerns about their financial health.
Forty-two percent of employees expect more support from their employers to help them cope. This employee presumption means employers need to assess whether their current employee benefits are up to the task of getting the wellbeing of staff back on track. Many staff are anticipating that their employers will provide on this front, and employers would do well to deliver, particularly in light of how employees feel their health has deteriorated .
Katharine Moxham, spokesperson for GRiD said: “As is evident in the research, employees feel most vulnerable in terms of their mental wellbeing, and employers have rightly assessed this as being an area in which they can step up and take more responsibility. However, employers should be wary of solely prioritising one area of wellbeing over another.
“Mental, physical, social and financial wellbeing are inextricably linked and so employers must address all four areas when providing post-pandemic support for staff. Employer-sponsored life assurance, income protection and critical illness have proven really popular because they provide financial support when people have been directly affected by the pandemic, as well as extra embedded services designed to support health and wellbeing.
“As the UK adjusts to the new norms of working life, adopting this holistic approach to staff wellbeing will ensure that all employees are as well-looked after as possible, and this will have long-term benefits for the business too.”
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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