To fight high employee turnover, small businesses are taking steps to boost employee retention by offering employee benefits.
One way to recruit and retain top talent is through benefits, yet small businesses often avoid offering it due to the cost. When considering employee benefits, small companies rank affordability (50%) and their ability to attract and retain employees (42%) as most important, according to the Principal Financial Group survey.
According to the last Yelp Economic Average report, more than 163,000 U.S. businesses have closed since the beginning of the pandemic. According to a new survey from Principal Financial Group, over 1,000 small business owners revealed a 20% uptick in turnover rates over the past 12 months. Almost all believe the pandemic impacted the turnover.
It’s a great thing that business owners are taking time to understand why employees are leaving and proactively address these concerns for current and prospective employees. We at Cosmo Insurance Agency are committed to working with business owners both small and large to ensure we have benefit packages that are targeted to your employees and your business needs.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.