Article: Linking Healthcare Benefits to Workforce Strategy for Small Businesses.
Publication: America’s Benefit Specialist Magazine
Author: Charlie Geiselhart
A comprehensive benefits package contributes to a healthy work culture by promoting employees’ physical and mental well-being. It also makes employees feel valued and brings greater peace of mind when they know their families can get the healthcare they need. Not only do excellent benefits help raise morale and create a positive work environment, but they also help small employers stand out among candidates in a highly competitive hiring landscape.
Even before a pandemic that caused economic upheaval on a massive scale, small businesses struggled to provide meaningful benefits and retain good talent. The Commonwealth Fund did a study in 2019 that revealed healthcare costs are the top concern for small businesses. When asked to choose their top two challenges, 37 percent cited the cost of providing health coverage to employees, followed by 33 percent who said attracting new customers was top of mind.
That was during a time when small business owners felt their businesses were doing well. Now that many are struggling to maintain after the pandemic, smaller clients lose hope because they don’t know about more affordable healthcare alternatives. Here we’ll examine why small businesses have limited healthcare options and how brokers can address these disparities.
Read the full article here: America’s Benefit Specialist Magazine.
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