On a review of 60 companies in the sector which comprised of other Project Management Consultancies, Developers, and Investors, we found:
- 45% of these had a Sick Pay policy
- 16% of this only provided Statutory Sick Pay
- 5% of these companies had critical illness cover
Typically Sick Pay provided support for 1 – 3 months but some companies were much more generous.
Of those providing Sick Pay some based it on the duration of service, and others had the same support regardless.
Some policies limited their approach depending on whether the sick employee was on probation or performance review for example, and 1 asked for repayment if payment is received via a third party. We hope this helps in shaping your own policy.
If you have a question please email questions@richmond-capital.co.uk