Benefits Buzz

The Benefits Boost

Posted on September 4th, 2018

How small businesses can use the power of benefits to make employees happy and improve the bottom line.

Successful businesses are built with engaged, fulfi­lled employees. When employees feel valued at work, they’re happier, more productive, and more likely to stick around. And bene­fits are a big factor. MetLife’s annual Employee Benefi­ts Trends Study shows how a competitive bene­fits plan enhances the employee experience and betters your bottom line.

More Than a Job

Today’s employees want their work and personal lives to complement and enrich one another. A workplace that supports employees’ personal and professional goals improves team motivation and loyalty.

64% of small business employees say their work skills make them a better person in their personal life.

Keep the Best & Brightest

One strong hire can elevate an entire business, but many business owners have a difficult time finding qualified employees. Enter better business benefits. Offering a comprehensive plan helps attract and retain top candidates.

More than half of small business employees say benefits are a main reason they choose to work at a company.

High retention rates save money. Replacing a senior employee can cost a small business an estimated 1.5 to 2 times the employee’s annual salary.1

 

Empower Your Employees

8 in 10 small business employees say having a good work-life balance increases their productivity and engagement at work. When you support employees with benefits that lead to a better life inside and outside the office they thrive—and so does your business.

 

Small business employees with a good work life balance are more satisfied, engaged and loyal to their employers.

 

The Benefit of Benefits

Did you know that less than half (42%) of small business employees are satisfied with the benefits they receive? Offering a wider array of options, particularly with non-medical benefits, allows employees to tailor their benefits package to their unique lifestyle and needs.

65% of small business employees say customizable benefits would increase their loyalty to an employer.

69% of small business employees say having benefits gives them peace of mind for the unexpected.

More benefits don’t always mean greater costs.

54% of employees say they’re willing to pay more to have choices that meet their needs.

 

 

To learn more about how benefits can enrich your workplace, contact your benefits broker or a Flex representative.

 

 

1. How Much Does Employee Turnover Really Cost? 2017, Huffington Post

Tag Cloud

Archives

Enter Your Email