
Ravi Govender Secure employees are happy employees One of the major attractions of small businesses is that they rely on small teams of dedicated people for their ‘family feel’ and success. Looked at from an outside perspective, however, it is these very advantages that can add substantially to the risk of running a small business. Ravi Govender, Head of Small Enterprises at Standard Bank, points out that in a small business severe injury or death of a key person, or even an employee’s family member/s, can severely disrupt the operations of a small business. On the other hand, planning for such events can help employees avoid financial stress. The benefit for employers lies in increased employee loyalty, and reduces the time off required. “It is in this arena that embedded insurance policies, which cater for various contingencies, can be used to reduce risks and increase benefits for employees. They can also assist in differentiating your business...