Business owners know that to stand out from the competition you need a strong remuneration package — and financial incentives may not be enough to retain valued employees.
However, many SMEs and growing enterprises are forced to focus on overheads, budgets, costs, and payrolls to survive.
And businesses with lower headcounts often find their ability to provide benefits restricted by what is available in the market. Some can even be left feeling that insurers aren’t interested in, or don’t want, their benefits business.
But the consequences for firms that do not prioritise reward are significant.
Our Health on Demand 2023 research found that just 56% of employees in small firms (less than 50 people) feel cared for by their employer, compared to 72% of people in firms with between 500–19,999 employees. Employees that do not feel valued are likely to vote with their feet and move to the competition.
Introducing employee benefits can impose a significant additional expense, when not done strategically. Mercer Marsh Benefits has extensive experience and track-record in finding cost-effective and competitive benefits options for small and medium-sized businesses. Our principles of saving you time, money, and getting you and your employees better benefits are our greatest priority.
We know that you don’t want to spend a lot of your time worrying about employee benefits. With our thoughtful advice, regular market testing, legislative updates, and consultative approach, you can rest easy knowing that you have cost-effective benefits solutions in place that work and are appreciated by your employees.
In an increasingly unpredictable environment, we understand that businesses like yours need to build resilience to rising challenges. We believe this starts at the core with one of your most valuable assets — your people.
