Small businesses make up about 90% the workforce today. Are the employees happy? AFLAC surveyed 1,000 US small businesses to determine how happy employees working for small businesses are for their Happiness Report 2017. They found that 94% of small business employees are happy in their current jobs all, most or some of the time. This is positive news but even more surprising, more than 75% are either extremely or very satisfied working for a small business.
The only draw the corporate world seems to have over small business is benefits. 50% of the workers surveyed stated benefits are extremely or very important to their happiness at a job. In the corporate world, benefit options typically include health, dental, group term life, disability coverage (long and short term) and even some unique benefits like group Long Term Care and supplemental coverage like AFLAC. The biggest negative seemed to be that employees didn’t feel satisfied with the health benefits that were being offered with 3% feeling angry about the health plan designs. 72% indicated stronger health benefits would make them happier. As the business owner, this is where adding voluntary benefits or supplement insurance to bridge the gap left by deductibles and larger out of pocket maximums would be valued by personnel.
Much of the happiness in the report focused around the unique intangible benefits that couldn’t be found in a larger workplace. For example, working with fewer people and in closer proximity creates a sense of camaraderie. 27% agreed they felt like they were working toward the same goal when in a small atmosphere. Happiness is very important to management in the small business world as 64% said it was important that their staff were happy.
The future continues to look bright for small business! If you are a small business owner and want to recruit, retain and reward employees, let’s have a conversation about what benefits to offer. We can create a plan that makes your employees feel valuable and offers quality coverage.
Find the full report at www.aflac.com/happy for more interesting details.