The majority of managers and employees do not fully understand the added-value benefits included with workplace health and wellbeing packages, according to a study by Opinium.
The study, conducted with 500 HR decision makers on behalf of Towergate Employee Benefits, revealed that just 47 percent of employers think managers have a good understanding of added-value benefits, and only 41 percent believe their employees do.
These added-value benefits are increasingly embedded in products such as private medical insurance and group risk cover, including life assurance, income protection, and critical illness. They range from popular options like virtual GP services and mental health support to lesser-known offerings such as menopause and fertility support, digital physiotherapy, eldercare assistance, and guidance on navigating the NHS.
David Williams, head of group risk at Towergate Employee Benefits, said: “Group risk benefits have traditionally been sold on their financial benefits, with the added value benefits being just that – added value. But there is an argument to say that it should be the other way round. Whereas only a limited number of employees in a company may ever have to claim on their group risk insurance, every employee in the company can benefit from the embedded benefits.”
Williams added that the impact is particularly significant for SMEs. In a company of 50 people with a young staff demographic, few may ever claim on life assurance, but all could use services like a virtual GP, fitness advice, or mental health support. These bundled benefits can also prove more cost-effective than purchasing standalone cover.
The research highlights a widespread lack of awareness. Employers admitted that if managers lack knowledge, employees are likely to know even less.
Williams said: “It is time additional benefits were placed front and centre when employers purchase the main employee benefit or insurance, as well as when they communicate the benefits. The added-value benefits will often be the entry point for many employees in engaging with their benefits.”
