Lack of insurance protection for workers affects company profits
Thu, 19 Aug 2010
An absence of protection insurance amongst UK employees is taking a financial toll on UK businesses with around two in three companies saying they have suffered from the effects of long-term sickness absence, according to new research from Unum .

One of the main causes behind this concerning discovery is that over half of UK companies say they continue to pay employees' full salaries for six months or more if they are off work as a result of illness or injury .

Many of these employers are shouldering the burden, without protecting their own business and all or some of their employees by providing any form of financial protection, such as income protection or critical illness, as part of their employee benefits package.

Both large and small companies are affected by long-term sickness absence, with 69 per cent of companies with more than 500 employees saying they had seen a financial impact on their business and 40 per cent of companies with fewer than 500 employees.
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