When you run a business that employs other people, one of the things you need to be prepared for is that they may fall ill.
This doesn’t refer to calling in sick for a day, but more severe illnesses and injuries that may require your staff member to take a longer period of time off work to recover. It’s something you need to be prepared for; both in terms of finances and learning how to support your employee when they are ready to return to work.
What is sick pay?
As an employer, one of your tasks is to provide a set salary for your employees should they fall ill or become injured and need time off work. This package determines how much they will earn every month, including the amount that will go to taxes and pension.
There are a number of reasons that a staff member may need to take this time away, and as an employer, the only thing you need is an official note from the doctor that stipulates why they will be off and for how long. While it is important that staff take the time they need to recover, sick pay can be costly for you. That’s where Group Income Protection comes in.
Why so you need to implement insurance for it?
When you choose an insurance policy for sick pay, you select the package that works for you and the policy will pay your employee’s set wages for each month of their sickness. This takes a lot of pressure off you, and also helps you reduce the amount you lose during their absence. It’s quite a flexible process, allowing you to choose a package that is affordable for you as well as beneficial to your employees.
It’s important to have this kind of insurance implemented so that you can ensure your employee is being supported during their time away. After all, they cannot be expected to recover well if they are stressed about receiving their sick pay.
Supporting employees as they return to work
This is something a lot of employers forget about during the sickness process. Staff need support when they are off sick, but also when they return to work. One of the great things about having insurance for sick pay is that employees can contact the insurer as soon as they are signed off for advice, guidance, and help on how to spend their time recovering.
An example of this would be if a staff member is off work because of poor mental health, and they need to see a certified psychologist so that they can receive help. The insurer would help them to find the support they need (free of charge) and make the appointments so that your employee can start working on themselves. The same goes for treatments like physiotherapy; it takes the pressure off you and ensures that your staff members get the time to recover effectively.
If you are provided a full range of benefits from your employer make sure you contact them before making a claim to arrange a discussion with your broker as Group Income Protection and Business Health Insurance can provide the same cover during times of intervention, so you want to ensure you’re receiving the best help available.
In addition to helping you support your employees during their time off and return to work, there is also a great assistance programme provided by many insurers; included in products such as Business Life Insurance and Group Income Protection. These come at no extra cost and tend to be outsourced to health and wellness officials. The programmes tend to be available 24/7, and they include (but are not limited to) the following:
- Mental health support
- Medical help
- Financial support
- Legal support
- Workplace support
There is also the option for employees to have a face-to-face meeting with the assistance team, allowing them to open up and find some help when they need it the most.
It is hard when your employees are sick, but the important thing to remember is that insurance is surprisingly affordable; especially when you consider how much it pays out when you need it. Thanks to this, your staff can take the time they need to recover while you focus on other aspects of your business. Income Protection Insurance gives everyone peace of mind, and it helps your company to run as smooth as possible during those rocky periods.
If you’re interested in providing your employees with any benefits or reviewing your current plan, visit Hooray Health & Protection for more information.