Credit Crunch Stress
Stress-related problems are on the increase as a result of the recession. As an example, AXA PPP healthcare has seen the number of finance and debt-related calls to its employee assistance programme (EAP) double in the last six months.
Helping employers, especially in the SME market, to build employee resilience to stress can be low cost but pay dividends for advisers.
The first step in beating stress in the workplace is to implement a formal stress policy, a sample of which can be obtained from the Health and Safety Executive (www.hse.gov.uk/stress).
An EAP is also useful, giving employees access to advice and support. These can be bought on a stand-alone basis or may be included with another product such as income protection.
Common sense advice is also important. Examples of this include improving communication to employees to avoid rumours and anxiety, and helping employees to lead healthier lifestyles by encouraging exercise or providing fruit or healthy canteens.
Corporate Adviser, February 2009
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