Aflac just released it’s 2014 Workforces Report. It demonstrated that small business owners can benefit more than ever from offering voluntary programs like disability and accident policies. Here’s a quick recap:
Small company business trends
2014 Aflac WorkForces Report results for benefits decision-makers and employees from companies with three-99 employees.
As part of the fourth annual Aflac WorkForces Report, 596 benefits decision-makers at small companies1 and 1,467 employees at small companies shared their opinions on a variety of workplace-benefits topics.
Small business snapshot:
Small companies are less likely than medium or large companies to say they feel extremely or very prepared to address changes to the health care system in 2014.
The most common benefits communication channel for small businesses is face to face, while medium and large companies choose email.
Small businesses were less likely than large and medium companies to say they offered smaller raises in 2013.
Just 23 percent of employees at small companies are extremely satisfied in their jobs, a higher percentage than those at medium and large companies.
When compared to their counterparts at medium and large companies, more employees at small businesses (70 percent) say they wouldn’t be able to adjust to the large financial costs associated with serious illness or injury.
Employees at small companies are more likely than those at medium and large companies to have less than $1,000 to pay for unexpected out-of-pocket medical expenses.
Just 18 percent of small companies offer voluntary insurance to their employees, yet 50 percent of employees at small companies who don’t have access to voluntary insurance benefits say they’d be likely to purchase such benefits if they were offered by their employers.