How Group Income Protection can support your business and your employees

Many businesses want to maintain their competitive edge and often need to offer more than competitive salaries when recruiting and keeping skilled employees. Businesses that prioritise their workforce can experience better employee performance, higher productivity levels and stronger employee commitment. With increased salaries, this comes with the increased cost to the business if you experience sickness within the workforce. One way to protect this is by offering Income Protection. Smith & Pinching can assist in putting in place Group Income Protection as a way for businesses to show their commitment to staff welfare, whilst protecting itself from additional costs.

What is Group Income Protection?

Group Income Protection functions as an employee benefit which gives financial security to workers who cannot work because of illness or injury. The policy starts paying a defined percentage of employee salaries after their initial waiting period to support their household expenses during recovery time. The benefit provides employers with peace of mind regarding their workforce members’ financial stability and ability to bounce back.

How Smith & Pinching supports local businesses

Smith & Pinching operates with the knowledge that businesses have different structures. Our team works directly with local businesses to create Group Income Protection plans that match their specific workforce requirements, budget constraints and business size.

Our experts:

Our team will assess a business and their requirements to develop a budget-friendly protection solution that will provide the most appropriate cover. We work with a wide range of insurance providers to find appropriate solutions that fit the company’s workforce. As part of an ongoing partnership with us, a business will receive continued help and support to ensure any policy remains appropriate as the business evolves.

Part of the service we provide is the delivery of financial education workshops which can help staff members recognise the value of the benefits offered by their employer and how to manage their own financial planning.

Why choose Smith & Pinching

Our company has dedicated decades to supporting regional businesses through expert advice for employers who want to safeguard their workforce and maintain financial stability. Our expertise combined with our client-oriented service model provides you with bespoke guidance and tailored solutions for your business needs.

To see how Smith & Pinching can help your business please contact our Business Team on 01603 786820 or email [email protected]