View more on these topics

Cutting costs of staff sickness

Staff sickness absence is costing companies up to 16 per cent of their annual salary bill but half the costs could be avoided, according to research by income protection provider Unum.

The report is the culmination of a year-long survey by the Institute of Employment Studies of a crosssection of UK businesses on behalf of Unum.

It finds that despite concern at the expense of rising sickness absence, employers consistently underestimate the cost to their business and have few strategies in place to manage such absences.

The report found one in seven adults will be off work for six months because of illness or injury and that individual employers can take a 16 per cent hit on their payroll because of absence.

But it found businesses can reduce the costs of sickness absence by up to 50 per cent through effective management, early intervention when staff are sick and rehabilitation and return to work programmes.

Director of marketing Eugene McCormack says: “Organisations that continue to ignore their absence costs are operating inefficiently. Taking steps to reduce these costs by investing in group income protection can help to manage costs and keep them to a minimum.”


Recovering companies the key for Hambros

JO Hambro Capital Management is keeping its eye on the stockmarkets critical list to spot recovering companies for its UK Recovery fund.The fund is aimed at experienced medium-risk investors looking for growth with some income and is one of four new open-ended investment companies (Oeics) that JO Hambro Capital Management is using to break into […]

Unilever and Merrill Lynch lock horns over pension fund

Unilever started its £130m damages and negligence claim this week, brought against Merrill Lynch over the management of its pension fund. Unilever says Mercury Asset Management, subsequently bought by Merrill Lynch, followed a risky investment strategy even though it had been told to invest its pension fund more cautiously. Unilever says Mercury repeatedly failed to […]

New income fund from Nationwide

Nationwide is launching an income fund, aiming to return 6.5 per cent year through investing in UK corporate bonds and fixed interest securities.The fund, managed by Merrill Lynch Investment Managers, is Cat-marked and available as an Isa, with a minimum investment of £500 and a 1 per cent annual management fee. Nationwide Unit Trust Managers […]

Report criticises quality of wealth management

Many wealth management companies are failing to target the right customers, understand their needs or offer them the proper services, claims a report by IBM.The report, co-authored by Professor Merlin Stone and IBM, suggests that many wealth management firms are simply “window dressing” basic financial products.It claims firms are too often content to see wealth […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm