Marvin OnumonuLegal & General (L&G) has launched its fourth Chief Medical Officer (CMO) report, which found that 34% of small and medium-sized enterprise (SME) employees felt their employer was not taking meaningful steps to prevent absence.
The data showed that 31% said their employer did something but it could improve.
Only 23% said their employer managed this well.
Most employees (78%) said that preventing absence would be the most useful part of any wellbeing and absence management strategy.
L&G said preventing absences and early intervention are at the core of group income protection and should be central in discussions with clients.
Roy Mcloughlin, IFA and board member of the Protection Distributors Group, said: “Early intervention services are not only what the Mayfield report highlights as integral to the solution, but also what HR professionals relate to when it’s explained fully by advisers.
“SMEs in particular have a hunger and enthusiasm to learn how we can help them with absence management and the positive cultural messaging of employees returning to work.
“The role of active financial and benefits advice has arguably never been as important in helping collaboratively communicate the impressive services that early intervention and vocational rehabilitation bring.”
Barry Waring, founder, BW Consulting Ltd, said: “We know that price has traditionally dominated the GIP conversation, particularly in smaller schemes where budgets are tight and some intermediaries are understandably focused on affordability.
“But the reality is that this price-led mindset is often glossing over much bigger risks and certainly missing opportunities.
“If we want to genuinely support the aims of the Keep Britain Working report, the industry has to move beyond claims statistics and premium rates, into meaningful conversations about keeping people well, in work and thriving.”
Dr Tarun Gupta, chief medical officer, UK protection, L&G, said: “Legal & General has consistently advocated that good work is beneficial for health.
“Supporting employees to remain in good work and thrive requires preventing illness where possible and intervening early when it does.
“Our latest research shows that employees want this support, yet in many cases it remains lacking.”
Gupta added: “To improve key business outcomes, such as recruitment, retention and performance, we need to support intermediaries to have conversations about group income protection in the context of prevention and early intervention, focusing on value rather than just cost.
“The CMO report and associated toolkit, case studies and research are intended to equip intermediaries with practical, evidence-based resources to support those discussions.”
