SHOCKING Study Reveals: Small Businesses Bet BIG on Benefits to SNARE and KEEP Top Talent!

A recent study conducted by Lincoln Financial indicates that small business owners consider employee benefits, retirement services, and wellness programs crucial for effective talent acquisition and retention — managing these costs is an added challenge.

Lincoln Financial’s analysis of over 550 U.S. small business owners’ employees’ interactions with the workplace communication systems highlights the owners’ desire to enhance investments in health and financial workplace solutions.

The survey revealed small business owners wanted to enhance the medical aid benefits by covering more expenses (46%), improving financial security (55%), and increasing retirement savings (55%).

Prioritization rationale for these areas

Attracting and retaining talent are among the foremost challenges small business owners grapple with, shared Jimmy Reid, EVP and president of workplace solutions at Lincoln Financial.

Reid noted the response from employees at small businesses also confirmed that health, financial, and wellness benefits are essential, adding that almost all said these are “must-haves.”