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MetLife Report: How Small Businesses Can Adapt to Workforce Transformation

Oct 4, 2021, 2 Minute Read

The ongoing impact of the pandemic has put small business owners to the test as they navigate unprecedented business restrictions, a prolonged economic downturn, uncertainty surrounding pandemic relief initiatives, and the changing work-life environment.

Even as we emerge from some of the restrictions, employees are feeling the pressures of uncertain or heavier workloads, long-term work from home or workplace safety issues, and health and financial concerns. As a result, employees are looking to their employers for support.

Small businesses who understand the shifts in employee needs and expectations, and take steps to enhance their well-being, will have a more productive and successful workforce.

MetLife’s report, How Small Businesses Can Adapt to the Trends Transforming the Workforce, provides insights from their 19th annual U.S. Employee Benefit Trends Study 2021 to help brokers tailor their strategies based on workplace trends, small business employer and employee concerns, and the far-reaching implications of the pandemic.

Inside the Report, You’ll Learn:

• What matters to small business employers and employees.
• The impact of improving employee well-being.
• The challenge of hiring and keeping employees.
• The strategic role benefits can play.
• Five forward-looking steps small business employers can take.

Key Findings:

• With worries about contracting the virus and employee productivity, most small businesses are also concerned about compliance, remaining in business, and protecting jobs.
  
• As small businesses assess employees’ needs and look ahead, 68% predict employee well-being will have a major impact on the workplace of the future.
• 55% of small business employees see their benefits as more important because of the pandemic.
• Nearly half (48%) of small business employees say the benefits offered by their employer were an important reason why they came to work for the organization.
• Employees who are satisfied with their benefit options are more likely to be productive, and more likely to feel motivated, valued, and appreciated.
  
• 55% of small business employees are interested in having their employer offer a wider array of non-medical benefits. And 64% say it would make them more loyal.
  

Download the MetLife Report for insights, guidance, and expertise to share with your clients and prospects. Contact us today to develop tailored benefits solutions that address your clients’ needs.

Download The MetLife Report

Questions?
Contact The Answer Team at 800.696.4543 or info@claremontcompanies.com.