Employee benefits provider Howden Employee Benefits & Wellbeing is partnering with accountancy professional membership body ICAEW in a bid to help ICAEW member firms create and deliver effective employee benefit strategies.
The partnership also aims to inspire a healthy business culture following the impact of the pandemic on businesses and their employees and the increased focus on workplace wellbeing.
Benefits offered to ICAEW member firms from the Howden partnership include access to a competitive private medical insurance scheme with preferential terms, including medical history disregarded (MHD) so that pre-existing conditions may be covered, available even from just one employee and up to 10% discount on existing group private medical insurance cover, with a range of value-added features for employees including a virtual GP and emotional support from a RedArc nurse.
Members firms also benefit from life assurance and Income protection insurance, available with preferential and competitive terms not normally available to smaller businesses and a guaranteed rate for three years and specialist advice to ensure good scheme governance for workplace pensions that helps deliver best member outcomes and access to specialist services for key areas such as mental health and financial wellbeing.
In addition to specialist key person insurance and business protection, flexible benefits technology so employees can choose the benefits that best suit their individual needs and branded benefit communications to boost employee engagement and increase employees’ awareness of the benefits offered, Howden will also offer a complimentary employee benefits risk audit so they can assess whether their existing benefit policies are still fit for purpose and deliver the best outcomes for their business and people.
Commenting on the partnership, Richard Gould, director of commercial at Howden Employee Benefits & Wellbeing said: “The pandemic has undoubtedly changed the world of work forever with many employers looking to retain some form of flexible and agile working post-pandemic. And just as the workplace is changing, so the benefits that firms offer their employees need to be reviewed too. What might have been suitable pre-Covid may no longer be fit for purpose. Increased NHS waiting times in particular will be a concern for many businesses and we are seeing solutions such as Private Medical Insurance and Virtual GPs growing in popularity as a result.”
“No two employee benefits packages are the same and the requirements of each firm will be unique. Our team of experts will be available to help no matter whether the organisation has existing benefits in place or is considering them for the first time. We’d encourage ICAEW members to sign up for their free benefit risk audit now.”
Sharron Gunn, chief operating officer at ICAEW, added: “Our partnership with Howden Employee Benefits & Wellbeing comes at a time when employers need to be prioritising wellbeing of their people. The pandemic has taken a toll on the welfare of many employees and we hope that the services provided by Howden can help support our members into the next phase of the crisis and inspire a healthy business culture among our member firms and member led businesses.”