The majority of small and medium-sized enterprises in the UK are reliant on just one employee, yet many have not taken steps to get this worker insured, it has been revealed.
New research by Scottish Widows reveals that 83 per cent of such firms are dependent on such an individual, but 62 per cent have not had this key role insured.
It was found that those businesses reliant on one main worker would find their profits and the survival of their company seriously impacted in the event of the person’s illness of death, highlighting the importance of absence management.
Richard Jones, protection market director at Scottish Widows, said: “It is concerning that such a high percentage of UK entrepreneurs do not have financial contingency plans for their business in the event of losing key staff.”
He added that the current economic climate emphasised how crucial it is for businesses to review their finances and improve their control over the future and security of their organisation.
General secretary of the Trades Union Congress Brendan Barber recently stated that more needs to be done to help people off sick return to employment.
Related News:
You can also follow any responses to this entry through the RSS 2.0 feed.- Stress Prevention and Mental Wellbeing Forum
- Employer Branding Summit 2010
- RPO & e-Recruitment Forum 2010
- Talent Management and Leadership Development Summit 2010
- Expatriate Management and Global Mobility Conference 2010
- Employee Wellbeing Forum 2010
- Wake up to Learning Breakfast Briefing
- Equality and Diversity Forum 2010
- Employing & Vetting Non-UK Nationals 2010
- HR in the Public Sector 2010
- Leveraging HR Technology 2010
Click here to read the related news story
Click here to visit our bookshop
- CareersPartnershipUK on What Not to Wear
- CareersPartnershipUK on GCSE students need guidance
- CareersPartnershipUK on GCSE students need guidance
- Wendy Driscoll on Inequality transparent in the Public sector
- Rich DiGirolamo on Low employee morale ‘could harm output’
- September 2010 (4)
- August 2010 (146)
- July 2010 (155)
- June 2010 (144)
- May 2010 (104)
- April 2010 (122)
- March 2010 (118)
- February 2010 (95)
- January 2010 (87)
- December 2009 (76)
- November 2009 (58)
- October 2009 (55)
- September 2009 (57)
- August 2009 (59)
- July 2009 (85)
- June 2009 (81)
- May 2009 (83)
- April 2009 (55)
- March 2009 (55)
- February 2009 (77)
- January 2009 (48)
- December 2008 (57)
- November 2008 (31)
- October 2008 (50)
- September 2008 (56)
- August 2008 (41)
- July 2008 (50)
- June 2008 (49)
- May 2008 (51)
- April 2008 (50)
- March 2008 (44)


