19 March 2025
Welfare announcements should ignite two questions in every business, says Towergate Employee Benefits
Following the government's announcement on significant changes to the UK welfare benefits system, Towergate Employee Benefits says this should ignite two main questions in every business:
- What money am I spending on my workforce, and
- What impact is that having on my trading performance
David Williams, head of group risk, Towergate Employee Benefits says: “If a business has healthy, active employees then they will have a healthy trading performance. But healthy, active employees don’t happen by chance. It happens through focusing on employees and seeing them as the valuable asset they are. It happens through giving employees every possible opportunity to stay healthy and contributing to the business. The government’s messaging is already hinting that the private sector will be expected to support their push to “get Britain working” so these businesses should be thinking carefully about those two questions.”
Towergate Employee Benefits says this is likely to spark two further areas to consider:
- How can I provide the right benefits at the right cost?
- How can I ensure I am boosting the performance of my business?
It has never been more important for businesses and HR departments to understand the value of private sector solutions in reducing absence and keeping workers at work.
Williams continues: “The government’s overhaul of the welfare system doesn’t signify the end of benefits, it signifies the ongoing evolution of employee benefits working alongside state benefits, and now is the time for companies to ensure their benefits are fit for purpose.”