The average number of days per year an employee is absent is 5.9. Having Health & Wellbeing benefits in place could assist with managing employee absence.

Source: CIPD Absence Management Survey, 2019

The benefits of health and protection

Protect yourself and your people: insurance for your employees and cost-effective benefits to help them be happier, healthier and more productive.

If you’re looking to recruit the best and the brightest, how can your company stand out?

Years ago, the conventional answer: offer a great pension (which you still can, by the way)!

Today? All employers have to put in place a pension scheme by law. More workers than ever can now pay into something that previously could have been out-of-reach.

As ways of saving have bloomed, companies have remained competitive by offering more than simply pensions to engage and motivate their colleagues.

Those that thrive make sure the benefits they make available match the expectations and aspirations of their people at each stage of their career.

Job done to help your employees to get their job done?

Not quite. Value for money and measuring the effect of what’s in place is critical.

Our consulting and brokering track record will support you in designing a package in tune with your workforce. We can also help you unlock the impact on the commercial objectives for your business.

"We give employers and their staff a clear idea of the solutions they’re looking for in a way that is clear and simple."

Where experience meets algorithm: Aspire Benefits Manager

Helping employees make sense of their benefits can power your business

Choice is both the curse and blessing of the digital age.

Search engines like Google seem to have already found the answer to the question you’d only just thought to ask.

Type in “employee benefits” and it takes 0.52 seconds to offer 2.67 billion hits, leaving most of us none the wiser.

Most people crossing an unfamiliar landscape need a guide. We’ve created Benefit Manager to help you navigate the employee benefits universe because we’ve spent our professional lives exploring and mapping this marketplace.

We give employers and their staff a clear idea of the solutions they’re looking for in a way that is clear and simple. It’s also set up so employees who take out further benefits pay by salary deduction.

So it’s much more than a random, hit-and-hope search. Our clients appreciate the range of benefits we put in place by virtue of the scope of our broking capability, informed by our background in the health and protection sector.

And while we’re all digital citizens now, there’s still a strong case for real-world connection. Most of us know employees look to their employers for access to guidance on decisions on their benefits.

We know all about the positive impact this relationship has on recruiting and retaining the right people and how it feeds into company morale and, ultimately, performance.

Here’s a tool to help your people access what’s meaningful for them. At the same time, you can analyse what’s important for your workforce as a whole, with measurement and analytics built in.

So if you’re searching – or scrolling – for the starting line on what an employee benefit package can do for your business, we can help.

We believe in advice AND algorithm. Combining our know-how with technology can help transform your company’s benefits.

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Aspire Benefits Manager

These days, most companies provide employees with a base range of benefits that will help them recruit and retain the talent they want.

The key is to make sure the right people are being offered the right benefits to add value at each stage of their life journey - and that you, and they, can manage them easily so that the relevant information can be accessed whenever it's needed.

It sounds so simple...but with a range of benefits comes a range of administration challenges that can be complex and time-consuming for your team. How can you make it easier to manage your employee benefits, and make sure your spend is worthwhile?

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How we can help

Supporting HR teams

Each year, your HR team could be spending much of their time not interacting with your people but tied up with renewing various benefits and laborious admin tasks such as handing over staff data to an insurer.

Make a mistake and all this time can be wasted.

Working with you, we will help any renewal process go smoothly by:

  • supporting you as you submit data to an outsourced company;
  • helping you sense-check employee records so the process is simple and efficient;
  • benchmarking premiums to ensure charges are value for money when compared to the rest of the market.

Supporting employees

What we know as protection is, for most people, insurance.

It’s what you pay for when it comes to taking out a policy on your house, car or holiday.

Once covered, you go about your life with some form of peace-of-mind: you feel protected from the worst that could happen.

Think, then, how much better employees would feel if they knew their employer was looking out for them in this way. By playing a central role in practical support, employers also build further emotional trust and gratitude.

All too often, this area can be reduced to making the right transaction for the right product.

But it can also be an enlightened decision which boosts staff morale and creates a “halo effect” around the company as a whole.

What's on offer?

8 in 10

employers offer private medical insurance

83%

of companies offer health and wellbeing

1 in 3

of employers offer critical illness cover for partners and their dependants

Over 50%

of organisations offer dental insurance

 

Source: employeebenefits.co.uk – survey conducted in March 2019 among readers – 290 responses

Health and risk benefits

Types of protection

Group life assurance
Income protection
Critical illness
Private Medical Insurance
Health Cash Plan

A group life assurance scheme enables employers to provide a tax-free lump sum to employees' loved ones and can even be used to provide a dependant's pension to an employee’s family and/or children, should they die in service.



The right cost for your business:

We specialise in negotiating the best terms in the vast insurance market and offer a fully managed service at an affordable price. Our aim is to achieve the highest cover with limited underwriting.

We help employers establish the right insurance arrangements to enable a level of salary to be paid to an employee during a prolonged period of sickness or absence through injury.

We can help you manage the cost of continuing to pay some or all of your employee's salary whilst they are absent from work.

We access the whole market to find the right type of policy, providing cover that's aligned to your benefit strategy at a cost that's affordable to the business. Income protection gives you leeway to use the available budget to bring in temporary resource to meet client or productivity requirements.

Using income protection insurance allows you to be the kind of caring employer who values your employees, whatever happens to them during their time with you.

Why not investigate providing a Group Critical Illness policy?

This will pay a tax-free lump sum directly to your employee should they suffer any of a list of defined medical conditions or surgical procedures (classified as 'critical illness events') and survive for 14 days, or 6 months in the event of Permanent Total Disability.

A benefit for an employer who really cares

We can design a policy that is affordable for you and your employees. Our skills in negotiating with the market to obtain the right level of cover, claim management and cost will help you take the financial stress away from your employees during a crucially stressful time.

PMI is widely recognised as one of the 'must-have' benefits for attracting and retaining your workers.

Finding the right medical cover can be time consuming and confusing. We can source a range of flexible Private Medical Insurance options for employers.

Consider the cost to your business if one of your key staff fell seriously ill. Could your business afford to wait whilst they are waiting for NHS treatment?

Health Cash Plans can be a valued low cost benefit employers can offer their employees to assist with everyday healthcare needs.

Does an employee need physio for those sporting injuries, or because something isn't moving as well as it used to?

A Health Cash Plan can provide an alternative for a company that wants to help its employees but isn't able to afford the cost of full medical insurance, or it can be used as another option alongside the provision of PMI.

Don't forget: Dental Insurance

Dental health can be just as important as general health and with dental costs increasing, providing a company paid dental plan is a valuable employee benefit.

Additional services

Other ways we can help you

Underwriting

Underwriting your risks can be a lengthy process.

First, we’ll make sure it’s necessary. If so, we'll work with the insurer to avoid delays which could slow it further still.

We'll also support you through any claims, making sure benefits are distributed in accordance with the scheme’s rules and the correct discretion of the trustees.

Our service commitment

We help you understand your exact business requirements and your employees' needs, then tailor our service to you.

Our experts will obtain the best combination of cover and costs that exactly matches these requirements.

In so doing, we can act as your in-house broker and claims manager.

Our Health and Protection service: healthier, protected employees mean a happier business

Health and protection policies and products are a key component of employee benefits. Using our Aspire Benefits Manager platform, we can source and tailor what works for your workforce.

Companies who invest in this area can see the link fostering better recruitment, improved retention and more energised, motivated staff.

Protection case study

Read on to find out how we improved protection policies for a large corporate client

 

 

 

Personal protection

Want to find out more about the different types of personal protection and the options available?

Visit our full guide to Protection here to find out more.

 

 

 

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