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Find them hereLife can be full of surprises – and not all of them are welcome. So show your teams you care with insurance and benefits that offer peace of mind. You can also provide access to rewards, retail discounts and benefits that are designed to make everyone’s money go further.
This is how small businesses protect their teams
Life can be full of surprises – and not all of them are welcome. So show your teams you care with insurance and benefits that offer peace of mind. You can also provide access to rewards, retail discounts and benefits that are designed to make everyone’s money go further.
Improving financial security
Nothing keeps people awake at night quite like money worries. So give your teams access to high-quality financial protections, education and savings that are normally only available to larger organisations.
Provide a safety net for your colleagues – with insurances that protect income and more.
Improve financial wellbeing with advice, education and wallet-friendly discounts.
Attract and keep the best people with a competitive package that sets you apart as an employer.
Show the world you walk the walk – and that you’re an employer who truly cares.
Financial protections and benefits for companies of all sizes
Who says only large corporations can provide their teams with excellent benefits packages? When you partner with Lockton, you gain access to a wide range of sophisticated insurance and benefits options - typically reserved for larger companies. We can do this because we’re an international organisation that can open doors and get great deals.
Make an impact with financial protection benefits
01
Critical illness insurance
If an employee is facing a serious illness or procedure, critical illness cover can provide them with a lump sum
02
Group life assurance
If an employee dies, group life assurance provides a lump sum to their named beneficiaries.
03
Group income protection
Give your teams access to financial and return to work support if they experience long-term sickness.
04
Key person insurance
How would your business cope if a senior leader becomes seriously ill – or dies? Key person insurance gives you financial options.
05
Expat life and disability
If you have colleagues working on secondment or permanently in other countries, this gives them access to life, disability and critical illness cover.
06
Personal accident insurance
If employees are injured while they’re at work or travelling for work , personal accident insurance can provide a lump sum payment.
07
Business and leisure travel
Make sure your teams can access comprehensive cover, whether they’re travelling for work or going on holiday.
08
Car leasing
Give your teams access to great cars by allowing them to lease vehicles via salary sacrifice.
09
Rewards and discounts
Give your colleagues access to a range of retail discounts and offers – because everyone likes to get a good deal.
10
Will writing
We all need one – but it can be an easy job to put off. So support your employees to take care of writing their wills.
11
Financial advice
Whether colleagues need advice on tax efficiency, saving for particular goals – or preparing for retirement – make sure they can access the best advice.
12
Financial education
From saving for retirement, through to managing debt, financial education can give your teams confidence and peace of mind.
Passionate about partnering with SMEs
We love small businesses. We’re inspired by their entrepreneurialism – and the difference they make. Which is why we provide companies of all sizes with financial employee benefits that boost loyalty and reputation.
Support rooted in independence
As a family-owned business, we understand the journey of growing a company and have never forgotten our roots. That’s why we’re we’ll always be here to support small businesses as they grow and make a big impact in the world.
Financial benefits are good for business
0k+
is the average annual cost in pounds to medium-sized businesses from employee stress due to money worries (CIPD Employee Financial Wellbeing, 2023)
0%
of employees think their employer is unaware of the impact that finance stress has on them at work (Nudge Global Financial Wellbeing Report, 2024)
0%
of employers plan to increase their investment in employee benefits (GRiD Group Risk Development, 2025)
0%
of employees whose employer has a financial wellbeing policy say they expect future employers to offer one (CIPD, 2022)
Our SME financial protection and benefits team is here for you
Mark Hathaway
Pension Pillar Lead
mark.hathaway@lockton.com
+44 73 8511 6978
Stewart Waddy
Head of SME Consulting & Production
stewart.waddy@lockton.com
+44 790 108 2802
Jackie Carribine
SME Consulting Lead, VP
jackie.carribine@lockton.com
+44 73 9376 4383
Get in touch
Financial protection and benefits for small businesses: FAQs
Are there tax implications for SMEs to offering financial benefits to their employees?
Yes, there are. When small and medium-sized companies offer financial benefits to employees, there are tax implications. For companies, investing in providing financial benefits for employees counts as a business expense – which can therefore reduce their tax burden. For employees, financial benefits can be considered a Benefit in Kind. This means that employees can be taxed on them through their P11D. We can talk you through this – and make everything clear to your teams with easy-to-understand financial education.
How much does it cost small businesses to provide financial protection and benefits to their employees?
For small companies, the cost of providing financial benefits varies depending on the size of the company and the age of its employees. It can also vary depending on the provider you choose to use. Remember that when you partner with Lockton, we secure great deals from top providers that are normally only accessible to large employers.
Do small businesses have to offer financial protection and benefits to part-time employees?
Small businesses don’t necessarily have to offer financial benefits to part-time employees. However, it can be a good idea to offer pro-rata or equivalent packages. This can help to boost employee loyalty and retention – and avoid discriminating against part-time team members.
We're here to help
We give you access to high-level employee benefits, strategic advice and great deals. We can’t wait to hear about your business and your people strategy.
Talk to our team