Become a healthy company with Elect by MMB 

Many companies think a sophisticated employee benefits package is the preserve of large corporates – but this is not always the case. Elect by Mercer Marsh Benefits (MMB) is designed to offer tailored packages of employee benefits to small- to medium-sized companies, and with more than 10,000 clients, it is helping build the future of work in companies across the UK.

And, just as individual employees benefit from regular and thorough health check-ups, so does MMB Elect. Every three years MMB carries out a comprehensive review of its benefits offering, putting our insurance providers under scrutiny to ensure we are providing exceptional value for money and delivering outstanding benefits for our clients.The latest review has just been completed and the new Elect proposition launches on 1st April. A review has never been so important. 

The last few years of global pandemic and economic crisis have put businesses and their employees under a range of new pressures. Covid-19 has had lasting effects on both the physical and mental health of individuals, either through its direct impact or the effects of lockdown isolation. Meanwhile, the cost-of-living crisis has put many households under pressure, creating not just financial difficulties, but adding further mental stress to their lives.

At the same time, the National Health Service is struggling to meet people’s needs. Even seemingly small matters, such as the difficulty in getting a GP appointment, can have a lasting impact. Employees who put off seeking medical help for a small ailment may be storing up bigger trouble in the future – for themselves and their employer.

Illness, absenteeism, acute health crises and poor mental health have obvious human costs, and they also present significant costs to a business.

The triennial review of our Elect package and insurance providers entails putting every benefit contract out to tender. Our rigorous selection process involves issuing a questionnaire to all providers and interviewing insurers to investigate the details of their own contracts and processes. As one of the leading insurance services companies – providing services to most of the FTSE 100 – we have access to leading experts in fields from health and life insurance to financial risk analysis. We can then draw on these experts to guide our selection of insurance providers.

The aim of our reviews is twofold. Firstly, to ensure we offer the exceptional value for money services and fine-tune every detail of our agreements. These details can make all the difference to our clients and their employees, for example by allowing us to offer pricing stability with four-year guaranteed insurance rates on protection insurances.

Secondly, the regular review of our insurance providers, and constant dialogue with our clients to hear their needs and wish-lists, has enabled us to build a comprehensive suite of benefits from which our clients can select those elements most suitable for their business and employees. 

Core benefits available through MMB Elect include group private medical insurance, income protection, life insurance and critical illness cover.

SME clients can also access a range of added benefits such as access to virtual GP appointments, ending the struggle to secure an NHS slot and the disruption and risk involved in not being offered a timely consultation. Mental health is just as important as physical health and the isolation and disruption of the pandemic has left a lasting impact on many. So, MMB Elect also offers Employee Assistance Programmes, which individuals can rely on for counselling and therapy, including face-to-face meetings if appropriate.

Full Bupa health checks are also available, providing a comprehensive health MOT for  employees that can identify undiagnosed conditions or health risks. Successful early diagnosis of illness or recommendations for lifestyle changes to improve everyday health could help prevent a future acute or debilitating illness. This is an invaluable benefit for individuals and, of course, for a business that might otherwise have faced losing a vital employee to an unforeseen health crisis.

Mercer’s Smart Pension can also be included in an Elect package. This provides employees not only with a high-quality pension but comes with added smart rewards such as vouchers for shopping discounts.

Each of the benefits available through MMB Elect offers valuable support for employees, while a combination of benefits is more than just the sum of its parts. A selection of benefits tailored to the needs of a particular business and its employees can create a wellbeing package that supports and protects employees and the business.