BetterSMB Best practices for small and mid-size businesses
The pandemic-linked Great Resignation has been marked by millions of employees either opting out of the workforce or fleeing to other employers. However, many small businesses can seize an opportunity in this challenging landscape.
Gallup estimates that nearly half of all workers are at least open to joining the Great Resignation by changing jobs. While this means all businesses need to watch their turnover, it also means that plenty of top talent is available for hire—assuming you can make them see your company as a better deal than the one they have.
This is where employee benefits come into play. While many job seekers are looking for interesting or meaningful work, or a great company culture, benefits can sweeten the deal. Of course, some small companies struggle to take on the costs of big business perks, especially after a tough economic year. In the past decade alone, the number of small businesses offering basic benefits has shrunk: today, only 44 percent of companies with 49 or fewer employees provide retirement and health plans.
