Attracting and Retaining Employees Remain Top Concerns

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As small and midsize businesses (SMBs) look to invest in and grow operations, attracting and retaining employees remain top concerns1—especially when owners are competing for limited talent. Employee benefits can help them gain an edge over their peers—and provide what employees say they want. 

Key business findings

The top 3 benefits that employees want employers to add in the next 12 months:1

  • Mental health benefits
  • Paid family/medical leave
  • Childcare assistance

For key employees, 84% of SMBs offer them benefits, and 55% want to offer them more. Common benefits include:2

  • Individual disability income (DI) insurance
  • Deferred compensation
  • Executive bonus plans 

Start a conversation with your business clients about adding individual DI insurance, deferred compensation, and executive bonus plans.

1 2022 Principal Sentiment survey of small and midsize employer customers (128), non-customers (128) and employees (128) conducted between May 4 and May 9, 2022.
2 2022 Principal Financial Group® Business Owner Check-in, conducted by Dynata.