Employees valued less than PCs?

Office design news from Morgan Lovell

Published on 14-10-2011

It is unlikely that UK businesses value their printers and PCs more than their staff, but their insurance policies would suggest that is the case.

A new report has shown that the basics in office interiors take priority over workers when it comes to protection. While a quarter of businesses are covered by an insurance package that will help them if their office equipment breaks down, just 10% have protection against the loss of a key member of staff to death (4%) or critical illness (6%).

Of the 500 firms examined in the Scottish Widows Business Protection Report, two fifths said they do not believe business insurance is valuable. In the same breath, nearly four fifths admitted they have a star employee whose loss would significantly affect the profit levels of the business, or even its chance of survival.

A further 26% said it had not crossed their minds, and 17% said they believed it would be too expensive.

Copyright Press Association 2011