Employee Benefits

As small and midsize businesses look to stay afloat, invest, and grow operations, attracting and retaining employees remain their top concerns¹.  Having employee benefits helps owners who are competing for limited talented workers.  Having a well-rounded benefit package is key to retaining your current employees as well as recruiting new hires.  Offering employee benefits can help your business gain an advantage over your competitors, as well as provide what employees want and are looking for.

The top 3 benefits that employees want their employers to add to their benefit package: ¹

·       Mental health benefits

·       Paid family/medical leave

·       Childcare assistance

Key employees are looking for “the whole benefit package” from their employers:

·       Health

·       Dental

·       Vision

·       Disability Insurance

·       Life Insurance

·       Availability of purchasing Critical Illness, Hospital Indemnity, and/or Accident Insurance

¹ 2022 Principal Sentiment survey of small and midsize employer customers (128), non-customers (128) and employees (128) conducted between May 4 and May 9, 2022.