Companies have a vested interest in protecting employees’ mental health and ignoring it can have moral, legal, reputational and economic consequences.
The Covid-19 pandemic has forced employers to take quick decisions, many of which may have affected their staff. Lockton was keen to find out more about the consequences of such measures on companies’ employees worldwide.
The Covid-19 pandemic has transformed the way people work, perhaps irrevocably. The health and wellbeing lessons we have learned during this last year are likely to inform our approach to employee benefits long into the future. Before the pandemic, looking at each employee benefit separately was less than ideal, but now it is more essential than ever to take a holistic view of corporate benefits programmes.
The outbreak of the COVID-19 pandemic has highlighted gaps in employee benefits programmes in many jurisdictions, particularly where social security protection is sketchy. Whilst these gaps may have been plugged hastily, a thorough audit of corporate programmes gives multinational companies the opportunity to enhance the level of cover needed to boost employee morale whilst leveraging economies of scale to keep costs down.
While many economies are set to shrink this year and unemployment is on the rise due to COVID-19 restrictions, the financial consequences have hit the working population in distinct ways.
While research about COVID-19 has made good progress both in relation to symptoms and treatment, knowledge about the lasting effects of COVID-19, referred to as “long COVID”, is still in its infancy.
As life expectancy continues to rise worldwide and everyone ages at a different pace, companies are looking to create tailored retirement plans that address both the preferences of employees and the needs of the company.
Pressure at work and an aggressive, uncaring workplace in law firms can lead to solicitors making careless decisions and mistakes and even trying to cover it up. A high-profile prosecution of a recently-qualified solicitor has reignited the discussion around corporate culture of law firms and mental wellbeing in the legal profession.