Lincoln Financial stands out as a leader in helping small businesses navigate the complexities of employee benefits and financial well-being. As the business landscape evolves, companies are searching for ways to attract and retain top talent while ensuring employees' health and financial security. This article explores how Lincoln Financial’s insights and solutions can support small businesses in meeting those needs.
Today, employee well-being extends far beyond basic health coverage. Businesses recognize the crucial link between supportive benefits and overall job satisfaction. Lincoln Financial recently conducted a comprehensive study addressing these priorities. The findings indicate that small business owners are increasingly focused on improving their teams’ health, finances, and overall well-being. In fact, more than half of surveyed businesses now plan to boost financial security and retirement savings options for their staff. Source.
While the desire to offer more robust benefits is strong, education about available options still lags. Only 63% of small business owners feel very familiar with medical expense coverage, and a mere 45% have a firm grasp of financial security products. To close this gap, Lincoln Financial encourages partnering with trusted brokers or financial professionals. Such collaborations enable employers to develop tailored strategies, combining traditional coverage with voluntary benefits for maximum flexibility. If you’re looking for deeper insights, this Lincoln Financial study highlights the top well-being priorities for small business owners.
Technology is playing a critical role in transforming benefits administration. Lincoln Financial provides InsurTech solutions designed to simplify the enrollment process and reduce manual effort. These tools free up time for small business owners, letting them focus on running their companies more efficiently. The innovation does not stop there—bundling benefits can yield significant cost savings, yet only 20% of businesses currently take advantage of this strategy. Lincoln Financial supports customers in understanding and leveraging such opportunities.
Enhancing employee benefits is not just about meeting baseline expectations; it’s about future-proofing your business. Voluntary coverage options, such as accident and critical illness insurance, can make a workplace significantly more attractive to talent. As Lincoln Financial’s research shows, investing in employee well-being boosts morale and retention. Small businesses that partner with experienced providers will be better equipped to navigate today’s challenges and achieve lasting success.
Lincoln Financial’s comprehensive approach combines education, technology, and personalized support to help small businesses create a healthier and financially secure workforce. By exploring new solutions and closing benefits knowledge gaps, companies can thrive in a competitive marketplace. To learn more, consider reviewing the latest Lincoln Financial study and industry findings for actionable insights and inspiration.