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COVID-19: A guide for employers

Employers worldwide are currently grappling with the COVID-19 (Coronavirus) pandemic and its impact on workforces, families, suppliers, customers, and business operations. As the weeks progress, many unknowns still remain about the impact of the virus – and this can be unsettling for businesses and employees alike.

Buck is here to help you work through your options and consider the near- and longer-term implications of your people-related decisions.

Supporting our clients

In these challenging and unprecedented times, Buck’s two-way commitment to our clients and our people is more important than ever. As the COVID-19 situation evolves, we are reviewing and adjusting our processes and policies to ensure we minimise customer impact and service delivery disruption.

You can read more about our business continuity planning for pandemics here.

We’ve also worked hard behind the scenes to plan, test, and execute our move to a totally home-based working model, so we can continue to deliver consulting, technology and administration support without interruption. As of Monday 23rd March, our highly dedicated teams have achieved and fully implemented this. Find out more about the progress we’ve made in this infographic.

Things to think about

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Pensions, share plans, and financial wellbeing

Many employees will be worried about the volatility of the market and the corresponding value of their pensions and investments. Communicating with your people to remind them of the context of short- and long-term investments will help to mitigate the risk of individuals making uninformed decisions. Plunging share prices will also be a concern for any of your people who are members of company share plans. Communication will again be a key consideration.

Share plans: what are the benefits?
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Physical and mental health

With huge additional pressures on healthcare services, accessibility to medical providers could be challenging. It’s important for you and your people to know how and where to get help. And with remote working the new normal across many organisations, it’s more important now than ever for employees to look after not only their physical health, but their mental health too. And for them to know where to go to access the support they need.

Blog: Healthcare trust – large surplus or false sense of security?
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Looking after your people

You need to do everything you can to maintain business-as-usual status without fully knowing what the reality of tomorrow looks like for your workforce. As you move to remote working, working in shifts, or other alternate arrangements, consistent and frequent communication with your people will be essential. It’s important to remember that new living and working adjustments could impact your people’s wellbeing. An employee assistance programme can be a very effective first line of defence for your workforce.

Blog: Returning to the office
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Staying connected

If your people are accustomed to working from the office, you’ll need to empower them for success remotely. Not just things like access to email, files, company intranet and pension/benefits information, but also the technology and support to ensure they still feel connected to the business and each other.

Blog: Communicating in a crisis
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Your business health

It’s likely you’ll already be reviewing/making changes to some of your policies and procedures. Without knowing the cost implications of these changes, it’s hard to understand what the true business impact of different scenarios might look like. But it’s important to do what’s right – for your people and your bottom line.

Blog: Cost savings through rewards and benefits
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Your wider benefits and HR issues

In times of uncertainty — amidst quarantine, school closures, social distancing, and country-wide lockdowns — traditional leave policies may not be right. Instead, less traditional or more flexible options might be the right choice for your organisation and your people. It's important to identify potential insurance-related issues for your workforce too. For example, COVID-19 related claims may restrict payments from insurers when it comes to group life assurance, so it’s vital that all employee paperwork is up to date and accurate.

Blog: Flexible benefits and COVID-19

We’re here to help you

If you’d like to speak to a member of the Buck team about how to deal with the impacts of COVID-19 on any aspect of your benefits and reward, we’d love to help.

Contact us today

Resources: Pensions, share plans, and financial wellbeing

Checklists, guidance, and insight on the impacts of COVID-19 on pensions, share plans, and the financial wellbeing of your workforce.

Blog

Share plans: what are the benefits?

Read more

Blog

Nintendo and….financial wellbeing

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Blog

Will the pandemic change workplace saving forever?

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Update

Impacts and actions for group life assurance

Read more

Checklist

Employer considerations for DC pension schemes

Read more

Update

Impacts and actions for employee share plans

Read more

Resources: Physical and mental health

Thoughts and guidance on how to address the physical and mental health impacts of COVID-19 on your business and your people.

Blog

Healthcare trust – large surplus or false sense of security?

Read more

Blog

The pandemic’s impact on healthcare and risk benefits

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Webinar

Mental health and wellbeing in an uncertain world

Watch the replay

Blog

COVID-19 hospitals update

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Blog

A willing mindset for change

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Checklist

Employer considerations for healthcare benefits

Read more

Update

Impacts and actions for private medical insurance benefits

Read more

Resources: Looking after your people

A range of resources to help you most effectively support your employees during the pandemic.

Update

How to make the most of employee assistance programmes

Read more

Blog

Employee benefits and COVID-19

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Blog

Six tips to improve employee wellbeing in a remote world

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Webinar

Practical ways to improve employee wellbeing in a remote world

Watch the replay

Webinar

Effective communications strategies to keep your workforce engaged

Watch the replay

Blog

Returning to the office

Read more

Resources: Staying connected

Tips to help your workforce remain connected to both your business and each other in this remote world.

Blog

Communicating in a crisis

Read more

Blog

Work well at home

Read more

Resources: Your business health

Support in addressing the challenges of COVID-19 on your business.

Blog

Cost savings through rewards and benefits

Read more

Resources: Your wider benefits and HR issues

Insights, blogs, updates, and guidance covering the broader impacts of COVID-19 across the HR and reward spectrum.

Blog

Flexible benefits and COVID-19

Read more

Update

Impacts and actions for flexible benefits schemes

Read more

Webinar

COVID-19 in a reward and benefits context Q&A

Watch the replay

Blog

Kindness: A prescription for coping in the pandemic

Read more

Infographic

Staying the course during the COVID-19 outbreak

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Blog

Working from home in a pandemic: Tip and tricks, love and laughter

Read more

Blog

In these tough times, how can managers help their teams get things done?

Read more

Update

Impacts and actions for group life assurance

Read more