GUEST COLUMN:
Graham Yearsley
Principal Consultant and Employee Benefits Expert
Quantum Advisory
Businesses should explore whether early intervention and rehabilitation processes are embedded into their Group Income Protection (GIP) propositions.
Group Income Protection is a form of insurance policy which provides cover if an employee is unable to work for a prolonged period of time due to illness or injury.
GIP policies often include financial support, access to rehabilitation and intervention services for both mental and physical health issues at no additional cost, but businesses do not always utilise these services to their full potential or are aware of their existence.
Many businesses over the years have taken full advantage of the services available from their GIP providers with great success. Whilst supporting employees back into the workplace is the main priority, providers will look favourably on businesses who operate a robust absence management programme when negotiating the annual GIP spend.
A number of the leading GIP providers offer embedded early intervention and rehabilitation processes within their policies, but sadly many businesses do not utilise the additional services available or, if they do utilise them, they don’t do this to the full potential.
My reminder for businesses to review their GIP policies and embrace the full range of services embedded within them comes as the Keep Britain Working review enters its discovery phase.
Keep Britain Working is an independent review, led by Sir Charlie Mayfield, into the role of employers in tackling health based economic inactivity and promoting healthy and inclusive workplaces. According to the review’s terms of reference, over a third of all working age people (aged 16 to 64) report having a long-term health condition, with around a quarter classed as disabled.
The discovery phase aims to understand the drivers of rising levels of economic inactivity related to ill health, leading to the development of recommendations for employers and government to support employees through prevention, early intervention and return to work.
The recent discovery phase report from Sir Charlie Mayfield for the Keep Britain Working review states that preventing people from dropping out of work is just as important as trying to get people back into the workforce.
It is so important that businesses are prepared to create the appropriate foundations to prevent absence and implement early intervention and rehabilitation to care for their employees. The tools are readily available; businesses need to review their policies and embrace these vital services.
