MetLife: Why Small Business Owners Offer Added Benefits

Jan 05, 2018

Help small business clients expand beyond medical

It's no secret that cost is a key driver in most decision making for small business owners. When trying to balance many financial obligations, adding additional benefits can be a tough sell. MetLife’s latest white paper can help you warm the door by sharing real life examples of small businesses that strategically added benefits and how they did it.

Attracting the Best and Brightest: When it comes to recruiting and retaining employees, benefits matter—perhaps more than you think. Fifty-five percent of employees say they consider affordable benefits more important than salary while job hunting, according to a 2015 CareerBuilder survey. Bill Carr, the CEO of Jacksonville, Florida-based Retirement Strategies, Inc., says offering a comprehensive benefits program that includes dental, vision, HSA plans and even commuter savings options has enabled the company to compete with larger firms for top talent.

Keeping Employees Satisfied: Because small businesses often operate like a family, keeping employees satisfied and financially secure is a priority for business owners. Cheryl Collins, Chief People Officer, at Oregon-based Ninkasi Brewing Company credits benefits beyond medical for helping employees succeed in the workplace.

"Our belief is that we want to perpetuate better living, and if our employees are taken care of and they have options, then they're more apt to succeed," she says.

Increased Productivity: Money worries plague many workers, and often those concerns can be a distraction from work, according to the MetLife U.S. Employee Benefit Trends Study. In fact, the study showed 46% of employees who are financially distressed believe they are less productive because of their money worries. Employers are taking note. Kevin Kent, the chief operating officer of Chicago-based ReviewTrackers, which offers employees a robust benefits package said, "We wanted our employees to be… able to focus on doing the best work of their career as opposed to worrying about their health or medical bills."

Help small business clients balance cost and employee needs. Download the white paper and explore more of what small businesses have to say about expanding their benefits beyond medical.

For questions, please contact a member of your B&P Sales Team - 888.722.3373.