New research from the Association of British Insurers (ABI) has drawn a clear link between firms offering health and wellbeing benefits to staff and boosting productivity.
The research reveals three in five (60%) SMEs acknowledge that providing health and wellbeing benefits has a high impact on supporting the productivity of their company – increasing to 69% for medium size businesses.
However, while almost a quarter (22%) of SMEs rated having health and wellbeing benefits as being critical for ensuring high productivity, just one in five (20%) are aware of a legal requirement to provide information on benefits to new employees by their first day of work.
Commenting on the findings, Charlie Campbell, ABI manager, health and protection, said: “Keeping up to speed with new legal requirements can be difficult, especially during a pandemic. But Day One Statements are not just a legal requirement – they are an opportunity to boost wellbeing and productivity at a time when employee health has never been more important to ensuring a healthy and productive workforce.”