Greater than half of SMEs plan to increase advantages providing

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Greater than half of SMEs (55%) are planning to extend the
advantages they provide employees over the following two years, a ballot suggests.

The MetLife survey of companies using between 50 and 300
employees discovered 7% will introduce advantages for the primary time whereas one other 46%
will increase the advantages they provide.

Round 14% of companies plan to increase the advantages on supply
to employees considerably. 

A key motive for increasing advantages is that SMEs battle
to draw and retain employees within the face of competitors from larger companies –
almost half (49%) stated recruitment and retention are main points for
them. 

Multiple in 4 SMEs (27%) admitted their advantages
bundle shouldn’t be as robust as larger companies, whereas one in 4 (25%) stated they
can’t afford to pay the salaries potential staff count on.

MetLife’s analysis suggests SMEs are more and more wanting
for help from worker profit consultants to assist them with recruitment and
retention – round 46% of companies stated they’ll search for help with methods
to draw expertise over the following 12 months, and 41% need assistance on retention methods.
That is up from 36% and 34%, respectively, a yr in the past. 

Adrian Matthews, worker advantages director of MetLife UK, stated
a well-designed advantages bundle can play a serious function in supporting SMEs’
recruitment and retention methods and needn’t show as costly as many
companies might imagine.

“The function of the adviser is vital as SMEs are telling us
they need help in figuring out the advantages that may be most valued by
their employees: that is excellent news for worker advantages consultants and different
advisers,” he added.

The research discovered that 69% of SME house owners and managers
imagine their agency ought to supply greater than wage and pension to staff.

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