Businesses are reassessing their definition of talent to extend key benefits such as income protection beyond management level.
This is according to Matthew Gregson, executive director at Howden Employee Benefits & Wellbeing, who was speaking the Reward & Employee Benefits Association Congress earlier this week.
According to Gregson (pictured), talent shortages have been one of the biggest themes for business over recent times, with firms competing for talent more than ever before.
But he added that companies’ definition of talent has also changed and he urged delegates to look at their definition of talent, adding many organisations are challenging the idea that talent and reward of this talent should still be carried out in a hierarchical way.
Gregson gave the example of an HGV haulage client who over the pandemic called up and said they wanted to provide their drivers with income protection for the first time.
“It’s not a conversation you hear everyday but why? because they had a real challenge getting drivers and when they asked their drivers what do they want? They said their number one concern was their inability to work long term because of the pandemic.
“So they said, ‘That’s the business case. Our definition of talent has changed – we can’t get these people. They have a need – how do we fill it?'”