Why Inclusion at work matters
Inclusion at work
Today marks the start of #InclusionatWorkWeek – a time to reflect on creating workplaces that are not just diverse but also welcoming, supportive and accessible to all employees. As awareness around diversity, equity and inclusion grows, businesses like Steadfast Life are not only focused on recruitment and culture but the tangible benefits we can offer our employees – benefits that are accessible and valuable to all employees, no matter their health status or neurodiversity.
Yet, there’s one area where so many businesses fall short – equal financial protection and support for their employees when life throws the unexpected their way. Traditionally, personal insurance can restrict cover for those with a mental illness, leaving them vulnerable. But group income protection and life insurance presents an opportunity to bridge this gap and offer real, inclusive support.
Know the facts
- Australia faces a staggering $25 billion underinsurance gap. Deloitte 2023.
- With 44% of Australians reported to not have life insurance. Life Insurance Survey 2023, Savvy.
- But not only that, individuals that experience financial difficulty are twice as likely to suffer from a mental health disorder. Beyond Blue, Financial Stress & Mental Health Survey 2022.
- 30-40% of Australians are neurodivergent, and face heightened mental health risk, up to 81% for autistic adults and 2/3 people with ADHD. ABS & Charlie Health
While mental health is finally recognised as an essential part of overall wellbeing, many personal insurance policies exclude those with a mental health history – so employees with conditions like depression, anxiety or other concerns may find it difficult to get the cover they need. It’s a gap in support that many businesses aren’t fully aware of, but one that has real consequences for employees’ lives
Here’s how you can make a difference
By implementing group income protection and life insurance as part of your employee benefits program, you’re helping to support every employee without the barriers of individual personal policies. This means:
- Employees and their loved ones can be supported if the unexpected happens, regardless of pre-existing conditions (up to certain levels).
- A policy that doesn’t discriminate – covering everyone regardless of age, gender, sexual orientation, background or pre-existing health conditions like diabetes.
- You’ll be considered an employer of choice for providing a group income protection and life insurance policy that covers mental health and neurodivergent conditions.
- Greater access to wellbeing resources, including mental health specialists, second opinions from global experts and a range of physical and mindfulness resource to support overall wellbeing.
Making inclusion at work a reality
Group income protection and life insurance is more than just a financial benefit, it’s a statement of your commitment to every employee’s wellbeing, mental health and financial security. By offering an inclusive policy that embraces employees with a diverse health background, you’re helping to create a culture where every individual feels valued and protected. Because employees are 10x more likely to be satisfied in an inclusive workplace. Inclusions@WorkIndex 2023-2024.
As we celebrate Inclusion at Work Week, we recognise the power of benefits like group income protection and life insurance in creating a safer, more supportive workplace for all. There’s no time like the present to rethink employee benefits and move towards a future where inclusivity isn’t just a value – it’s part of every aspect of the workplace, from culture to protection.