SC 2742 Scrutton Bland-Construction-12pp-FINAL

Strength in numbers

As the construction industry continues to tackle the challenges resulting from the current skills shortage, finding good staff and building a team you can rely on is no mean feat, and can be expensive to boot. So, once you have recruited, trained and mobilised your team to work efficiently, what happens when the unexpected strikes? It is a sad fact of life, but accidents, injuries and sickness are all issues which affect every workforce. The impact of a long term sickness or even death can affect every element of an organisation from staff morale through to the bottom line. There are ways in which business owners can protect themselves against the financial impact of a key member of staff falling ill or passing away. Group Protection Insurance is increasingly being taken up by construction industry firms to provide a safety net for when the unexpected happens and, with a range of optional and flexible covers available, it is not just large companies these days who can benefit. In addition, Corporation Tax Relief is available for group schemes as, in most circumstances, insurance premiums can be classed as a business expense under current legislation and therefore can help to reduce the cost implications of a scheme. Options include • Group Income Protection – financial support for employees during illness or injury, including practical help and rehabilitation support to either keep them in work or get them back into the workplace as quickly as possible. • Group Life – financial and emotional support for employees’ dependants, at a time when it is most needed. • Group Critical Illness – financial support for employees when they are diagnosed with a critical illness or undergo an operation covered by the policy. • Group Private Medical Insurance – health support to have diagnosis, treatment or an operation quickly thus helping the employee make a swifter return to work.

C O N S T R U C T I O N | S C R U T T O N B L A N D | 5

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