Three companies have set out the advantages of issuing employees with Day One Statements, using information provided by the Association of British Insurers (ABI) on the role the Statements can play in boosting productivity. The guidance from the ABI highlights the benefits of informing new starters of their rights and explains how Day One Statements can be maximised to include health and wellbeing benefits.
Since April 2020, employers have been required under UK law to provide new starters with a ‘Day One Statement’. This sets out important information including details around pay, holiday entitlement and the benefits that they will receive. These minimum standards provide a basis for ensuring that employees have all the relevant information they need as they join a new organisation.
Over the last year, the ABI has engaged with employers to discuss how to maximise the opportunities presented by Day One Statements. This includes the strong benefits businesses can experience when providing greater support for employees’ health and wellbeing, such as offering gym memberships, mental health support, life insurance or online GP access. ABI research has found that nurturing the health and wellbeing of employees can boost productivity by 12% and up to 69% of small companies say that wellbeing supports productivity.
Ashcroft Partnership LLP, The Haemophilia Society and Cambridge Mechatronics have all embraced the information provided by the ABI on Day One Statements and have shared how their experience has had a positive impact, both on their businesses and on their employees.
Talking about the business benefits, Judith Elliot, Head of People at Cambridge Mechatronics, said:
“We recruit engineers in a very competitive market, so we need to really make sure that we stand out. Our employees can access private GP appointments, physiotherapy, chiropractic appointments, mental health support, among many other benefits. The benefits of all the support we offer are many; employees are attracted to work for us, they can access practical help when they need it and it helps them settle in more effectively.”
Ashley Hickman, Head of Income and Marketing at The Haemophilia Society and someone who has directly benefitted from Day One, explained her experience:
“The Day One Statement meant that I felt like an actual employee, part of the organisation. I feel that communication is very important, that’s how you can become the best you can be for the organisation and deliver on all of your goals.”
Laura Banks, HR Business Partner at Ashcroft Partnership LLP added:
“When the ABI approached us to take part in the roll out of their ‘Day One Statement’ initiative, it really resonated with our own sentiment about employee onboarding. As a full-service business and tax advisory practice based in Cambridge, we want people to want to come to work. It’s almost a no-brainer that if everyone’s happy in the workplace, then your clients are going to be happy as well, and you’re going to keep on producing great client work.”
There are five simple steps that employers can follow to boost wellbeing and productivity across their business:
- Identify workers who are now entitled to a Day One Statement
- Check your policies are up to date to communicate correct information
- Use the statement to support workplace wellbeing and boost productivity
- Help staff stay engaged by providing statements to them every year
- Explore what other action you can take to support wellbeing
For more details from Ashcroft LLP, The Haemophilia Society and Cambridge Mechatronics on how adopting and advancing Day One Statements has benefited them, listen to their stories below.
More information for employers on how to build better Day One Statements is available here.
William Meredew, ABI Policy Adviser, Health and Protection, commented:
“It’s great to see how Day One Statements are being used by employers to help achieve real business benefits, while also ensuring that their employees are well supported. We recognise that keeping up to speed with new legal requirements can be difficult, but Day One Statements are not just a legal requirement – they are an opportunity to boost wellbeing and productivity at a time when employee health has never been more important to ensuring a healthy and productive workforce. At the ABI we’re keen to support employers on this journey and have published information on our website to help them use the opportunity to support their employees.”