Employers are neglecting business protection and employee benefits in a bid to cut costs, according to a new study.
Results from BDRC Continental show only one in ten businesses are protecting themselves against the impact of a key member of the business being unable to work. The business research specialists' findings show just 11% of all businesses and 9% of SMEs (businesses with a turnover of less than £1m) take out business protection insurance such as keyman cover. And only 7% offer their employees group income protection. The research also revealed almost half (46%) of SMEs do not provide benefits to any of their employees, with 72% of newer companies (trading since 2006) and 68% of very s...
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