The New Workforce Expectations
Today’s workforce expects more than just a paycheck. Employees consistently rank health insurance, retirement contributions, and flexible work benefits among their top considerations when evaluating job offers. For small and medium-sized businesses (SMBs), this means that without a strong benefits program, it’s easy to lose talent to larger competitors.
How Benefits Impact Hiring in Small-to-Medium Businesses
Benefits are often the deciding factor when candidates compare offers. A competitive package not only makes your business stand out but also shows that you value your team’s long-term well-being. For SMBs, this can be the difference between hiring your top-choice candidate and losing them to a larger company.
Retention: The ROI of Benefits
Employee turnover is expensive — estimates place it at 50–60% of an employee’s annual salary. Employees who feel supported through benefits like health insurance, 401(k) plans, and wellness programs are more likely to remain loyal and engaged. Offering the right benefits is an investment in reducing turnover and maintaining productivity.
Cost Savings vs. Turnover Costs
Many SMBs hesitate to expand benefits, assuming it will be too expensive. But when compared to the cost of constant hiring and training, robust benefits often save money in the long run. Partnering with a Professional Employer Organization (PEO) gives smaller businesses access to enterprise-level benefits at a fraction of the cost.
How ComployHR Helps You Stay Competitive
ComployHR makes it possible for SMBs to offer benefits packages that rival those of large corporations. From health insurance and retirement plans to compliance and payroll integration, we handle the complexities so you can focus on growing your business.
Ready to offer competitive benefits without the headache? Let’s talk.
