Last reviewed 16 April 2021
Research from the Association of British Insurers (ABI) shows that offering health and wellbeing benefits to staff can play a valuable role in boosting productivity.
As lockdown eases and many companies adapt to the “new normal”, the ABI suggests that employee health and wellbeing will become ever more important for businesses.
It found that 60% of SMEs acknowledge that providing such benefits has a high impact on supporting the productivity of their company. This increases to 69% for medium-sized businesses, whilst 22% of SMEs rated having health and wellbeing benefits as being critical for ensuring high productivity.
However, the ABI pointed out, only 20% are aware of a legal requirement to provide information on benefits to new employees by their first day of work.
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.”
Day One Statements — technically a “written statement of particulars”— should set out details such as hours of work and holiday entitlement and, since April 2020, has become a legal obligation for businesses.
The ABI offers a range of tools, available at https://www.abi.org.uk/products-and-issues/topics-and-issues/workplace-wellbeing/, to help nurture wellbeing at work.