Competing for talent is a top risk for small and medium-sized enterprises (SMEs) 

Given this challenge, it’s little surprise that making the wrong talent strategy decisions can negatively impact an SME’s business more than almost any other people-related risk.⁽¹⁾

The impact that SMEs are most concerned about is the risk to core services if they are unable to secure critical lower-wage workers or high-quality supervisors. 39% of SMEs also worry about the effects on their ability to offer employee growth opportunities and skills and career development.

When SMEs are considering what they can do to make their talent strategies more competitive, we recommend thinking about healthcare.

Healthcare is one of our basic human needs, and it matters to employees. Around 20% of employees globally say they are concerned about being able to support and afford family healthcare. It’s also an area where many SMEs say they could do more, with 60% of SMEs rating their healthcare affordability support as moderate or minimal.

Investing in healthcare shows employees and potential recruits that size doesn’t stop an SME taking employee health and wellbeing seriously. Moreover, it’s an investment that can do more than help an SME attract and keep the people they need. It has an important part to play in boosting productivity and building a culture of health and resilience.

Size shouldn’t limit your ability to offer stand-out benefits. We help you rival even larger employers by offering more comprehensive benefits than typically available to smaller companies.

footnotes

(1)   People Risk 2024