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New research by pensions and insurance firm Friends Life has found that half of UK workers want to be more cared for by their employer1.

The survey of 2000 employed people found over 51% want their company to care for them more. A third, however, said they were happy with how their employer currently cares for them. Unusually, 3% of those who responded actually wanted their employer to care for them less.

Those aged 25-34 appear to be the most dissatisfied with almost 6 in 10 wanting their employer to care for them more. That figure drops to 4 in 10 for the over 55s - the lowest of all the age groups surveyed.

The research also found that the North East has the highest proportion of workers who want their employer to be more caring (57%). In contrast, those in the North West (46%) appear more content with East Anglia having the lowest proportion (44%).

Anna Spender, Head of Group Protection Proposition at Friends Life, said: "Over recent years employers have been doing a lot to make their staff feel cared for and appreciated but we know there is always more work to be done.

"However, the research did show a lot of positives. 60% of employees feel the company they work for does care about them and their wellbeing. That figure ideally needs to be higher but it means a lot of businesses are doing the right things."

Over a third of employees (36%) also rated the way their employer treats them as either uninterested, ignoring the needs of employees or uncaring. However, well over half (57%) were more positive rating the company they work for as paternal, caring, employee focussed or fair.

The survey asked employees what one thing their company could do to make them feel more cared for. Flexible working (20%) and an increase in verbal recognition (20%) were the most popular selections while protection insurance (life insurance, critical illness cover and income protection) also featured highly (15%).

"It's encouraging to see that employees could feel more valued with a simple 'thank you' when they do something well," said Anna Spender. "I think the research also shows that a well thought out benefits package could also help employees feel appreciated."

The research has been released to coincide with Friends Life launching the first employer funded cancer-specific workplace benefit in the UK. Friends Life Group Cancer Cover is available to companies wanting to insure 100 members of staff or more and will pay out £25,000 to any employee who is diagnosed with a cancer covered by the plan*.

Macmillan Cancer Support predicted last week that there will be a record high 2.5 million people living with cancer in the UK in 20152. They have also reported that on average, 4 out of 5 cancer patients are £570 a month worse off because of the illness, partly due to travel costs to hospital appointments3.

"Almost 70% of critical illness claims across the industry are related to cancer4 and while cancer incidence rates are increasing, so are survival rates," said Anna Spender. "Given the research from Macmillan and an ageing work population, the prevalence of cancer in the workplace is likely to rise so we wanted to do something that would really benefit employees.

"Group Cancer Cover has been designed to be affordable and simple, providing a level of benefit to help with the additional costs that people face while going through cancer treatment. We began developing it after research by Capita Employee Benefits looked at what products employees valued against what employers actually provided. It means companies with budget constraints that may have little in the way of workplace benefits can take advantage of it and offer their staff valuable cover."

* Policy definitions apply. Not all cancers are covered

1 One Poll survey of 2000 employed people in the UK carried out on behalf of Friends Life (Dec 2014)
2 Macmillan Cancer Support (2015)
3 Macmillan Cancer Support - Cancer's hidden price tag (April 2013)
4 Group protection industry figure from Group Risk Development (May 2014)

-ENDS-

For more information, please contact:

Ben Moss PR Consultant T: 0117 928 5843
M: 07827 832395
ben.moss@friendslife.co.uk

Ref: N0218

Notes to Editors

Friends Life provides pensions, investments and insurance for over five million customers. Our key business lines are corporate benefits, protection and retirement income.

Friends Life is the brand name of Friends Life Group Limited.

Our heritage dates back to 1810, with Friends Provident being founded in 1832 to help alleviate the hardship of Quaker families facing misfortune.

Other brands in the Friends Life group include:

  • Friends Provident International, which provides life assurance, pensions and investment products to Asia, Middle East, Europe, UK and other selected markets.
  • fpb AG, a wholly owned distribution partner in Germany.
  • Sesame Bankhall Group, which was formed in 2009, combining an IFA network, support service provider and mortgage club, to create a large distributor of professional support services to financial advisers.

Important

This news service is for information purposes only and does not provide any form of advice, recommendation or financial promotion. Any opinions expressed by third parties are those of the third party concerned and not of Friends Life Group Limited. Friends Life Group Limited does not accept liability for any errors or omissions or for loss incurred because of reliance on information or opinions given.

The content of the news items set out above are accurate only as of the date of issue and Friends Life Group Limited does not undertake any obligation to update them.

Useful links:

www.friendslifegroup.com/media-centre.aspx
www.flickr.com/photos/friendsimages
www.twitter.com/FriendsLifeTalk

To follow Friends Life twitter page on your mobile, simply text "follow FriendsLifeTalk" to 86444 (UK only)

Friends Life is a business name of certain companies in the Friends Life group including the following

Friends Life and Pensions Limited Company number 475201
Friends Life Limited Company number 4096141
Friends Life FPLMA Limited Company number 00004599

Each of the above companies is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority

Friends Life Marketing Limited Company number 5059179
Friends Life Investment Solutions Limited Company number 6389025
Friends Life Services Limited Company number 3424940

Each of the above companies is authorised and regulated by the Financial Conduct Authority.

Friends Life Management Services Limited Company number 983330 is an appointed representative of Friends Life Services Limited, Friends Life and Pensions Limited and Friends Life Limited.

Friends Life The Blue Line Limited Company number 3146254 is an appointed representative of Friends Life Marketing Limited

Suntrust Limited Company number 1460956 is not authorised or regulated by either the Prudential Regulation Authority or the Financial Conduct Authority.

Each company is an incorporated company limited by shares and registered in England and Wales with a registered office at Pixham End, Dorking, Surrey RH4 1QA

Telephone calls may be recorded. Friends Life is a registered trade mark of the Friends Life group   www.friendslifegroup.com

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