Benefits keep employees happy. Bad benes do have the opposite effect.
If it seems employees at your small business are a little less than thrilled to be there these days, it may be because of your health insurance package. A new study says that loyalty to small biz is weakening due to benefits.
About 50% of workers who said they weren’t happy with their jobs blamed company benefits, even though many small employers cut back or held benefits packages steady, according to MetLife’s annual Employee Benefits Trends report. Since 2007, the number of employers offering prescription drug and disability benefits stayed about the same, but fewer offered medical, dental and life insurance.
Overall, less than half of 1,412 small-business workers surveyed said they felt a strong sense of loyalty towards their current employers, down from 62% in November 2008. About 34% said they would rather be working for someone else.
A parallel survey of 1,508 employers – you, the boss - found their perceptions of employee loyalty hadn’t changed, with 54% believing their workers were still fiercely loyal.
The study found about half of employees surveyed wanted dental and disability even if they have to pay for them. MetLife suggested one cost-effective approach: voluntary benefits. And there are other options, too.
Read more here.