Commercial Insurance Profile – September 2020

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What to Know if Working From Home Becomes the Status Quo

Despite the UK attempting to reduce lockdown measures and allow more organisations to reopen amidst the coronavirus pandemic, many employees may prefer to continue to work remotely.

Although working remotely may have been accompanied by certain challenges, employees have also been freed from the pressures and expenses of daily commutes. Additionally, employees may have other ongoing responsibilities that are made easier by working from home, such as caring for their families.

Even if employers do choose to reopen and request that employees return to the physical workplace, it should be understood that all employees who have been employed for at least 26 weeks are eligible to submit a flexible working request.

Employees who have been productive and successful while working remotely may believe that they have proven to their employer that ongoing flexible hours and remote work will not detract from the organisation’s future. If granted, flexible working requests will allow employees to continue to work remotely as well as potentially allow for other liberties, such as flexible hours.

Employees who have been productive and successful while working remotely may believe that they have proven to their employer that ongoing flexible hours and remote work will not detract from the organisation’s future.

Employers may deny a flexible working request for a number of reasons—such as associated costs, inability to reorganise work or issues related to client needs—but should be prepared to provide clear evidence as to why a rejection was necessary. Regardless of the decision, employers are required to respond to such requests within three months.

According to a survey conducted by Lewis Silkin, by the end of June, 25 per cent of employers had already received requests from employees for ongoing remote work or increased working hours flexibility. Employers who intend to deny flexible working requests should be aware that rejection may lead to a discrimination claim per the Equality Act.

It is worth noting that remote work was already a rising trend prior to the coronavirus pandemic. Given the amount of experience that many employees have now been able to garner due to lockdown, employers should be prepared to give ample thought and consideration to any future remote work requests or organisational policies.

Important Benefits of Having a Commercial Crime Insurance Policy

Many employers may believe that they are not targets for criminals, but this kind of inattention or negligence can lead to devastating losses. Regardless of size or industry, a commercial crime insurance policy is a layer of security that all organisations should consider.

Commercial crime cover provides protection and recoups losses in the event that money, property or funds are stolen from an organisation. This insurance covers a wide variety of crimes. Some specific examples of incidents that could befall an organisation, but would be covered under a commercial crime policy, include:

  • Employee crime – Losses or damages related to money or other property being stolen by employees via theft or forgery
  • Fraudulent transfers – Losses or damages stemming from a perpetrator either conducting or arranging a fraudulent transfer of goods or funds
  • Social engineering – Losses or damages caused by a criminal impersonating a person of authority—such as a senior leader—and using their influence to steal money or property
  • Forgery or alteration – Losses or damages related to cheques or promissory notes being forged or altered

Understanding the Workplace Priorities of Generation Z

As employers seek to attract and retain the top talent of a new generation, it is important that they understand the priorities of members of Generation Z.

Generation Z consists of people who were born between 1995-2010. This generation already makes up a plurality of the world’s population, at 32 per cent. As such, members of Generation Z will soon make up a significant portion of the world’s workforce.

In order to attract and retain top talent, it is important for employers to understand what Generation Z employees look for when making their career decisions. Consider these statistics regarding members of Generation Z and their priorities:

  • Thirty-two per cent say they are motivated to work harder and remain at an organisation longer if they have a supportive manager.
  • Seventy-seven per cent say that an organisation’s level of commitment to diversity would influence their decision to work there.
  • Thirty-three per cent say they would never tolerate an employer who allowed them no input regarding their work schedule.

One of the most notable statistics found in a global 2019 study condcted by the Workforce Institute is related to Generation Z’s desire for measurable career advancement.

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