Jessica is senior vice president and leader of Small Business Solutions in MetLife’s Group Benefits business. She oversees sales, strategy, underwriting, and overall P&L for businesses under 100 employees.
MetLife – For additional resources on how to get a leg up in the ongoing war for talent, check out Jessica’s website!
NAPEO – For your HR needs
3 Value Bombs
1) In a small business, bringing the wrong person on is almost worse than having nobody.
2) Highlight that people can also get competitive salary and benefits. But really, first and foremost, highlight the values that you have as a small business owner – that you can value your employees potentially in a way that a larger company can’t.
3) There are people who will take a lower paying job to work in a company that shares their values.
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Today’s Audio MASTERCLASS: How to get a leg up in the ongoing war for talent.
[01:04] – Jessica shares something interesting about herself that most people don’t know.
- She writes poetry and is actually published!
[01:57] – Are there a lot of business owners searching for new hires right now?
- We’ve got 28 million small businesses that play a pivotal role in our economy.
- Unemployment in the country is at its lowest, and it’s really hard to find qualified workers.
- 29 percent of small business owners plan to hire in 2019.
[02:50] – Are these small business owners having success finding the right people?
- Lots are having a hard time finding quality candidates.
- In a small business, bringing the wrong person on is almost worse than having nobody.
[03:55] – How can those small business owners attract qualified candidates, hire, and retain them?
- Job seekers prefer to work in small businesses because they have access to leadership, they have more involvement in running the business where they can see the impact of their work, and they like the family feel.
- Highlight that people can also get competitive salary and benefits – but really, first and foremost, highlight the values that you have as a small business owner and that you can value your employees potentially in a way that a larger company can’t.
[05:17] – Jessica talks about benefits.
- Benefits really are a great way to attract and retain employees.
- There are ways to put together a benefits package that doesn’t cost you anything as a business owner.
- The easiest way to know which benefits you can give to employees without any added cost is to find somebody who is a professional in benefits.
- If you find a broker who understands small businesses, you can use their expertise.
- You can find brokers through working with your Chamber of Commerce, or find an association of business owners and have someone you can trust help.
- You may also take advantage of LinkedIn connections.
[09:23] – Jessica talks about highlighting desirable workplace culture.
- As a small business owner, you know why you went into business.
- If you lead with your values, it becomes very clear who you want, and also who wants to be on that journey with you. This makes the firm a great place to work for the right people.
- There are people who will take a lower paying job to work in a company that shares their values.
- If you can find ways to make your employees feel valued, then you are driving engagement and loyalty.
[14:01] – How can adding benefits beyond medical really boost employee productivity and loyalty?
- You have to make sure that you understand what it is that you’re providing, because if you’re providing something that they’re not valuing, then you’ll be frustrated and your employees will be frustrated as well.
- You want to make sure that what you’re giving is resonating.
[16:46] – How do we find the right mix of benefits to keep employees satisfied?
- Make sure that you’re listening to your employees.
- Make sure that you’re understanding where the gaps are.
- Match the benefits to the life stages.
- Take a step back and figure out what is it that makes sense, and what is it that you want to be providing.
[20:09] – 5 tips that small business owners should keep in mind as they assess their benefits plan.
- Communication is critical—it is not enough that you understand the benefits package… your employees should understand it, too. You need to communicate in a way that’s clear and simple.
- Find the gaps—high deductible health plans are very common in today’s world. The concept of voluntary benefits help employees manage the out-of-pocket cost and reduce the risk.
- Listen to your employees—know what your employees are looking for. If you can get underneath what their needs are, you’re going to be able to figure out a way to make your employees feel valued.
- Choices, choices—in the face of having too many choices, people just choose not to.
- Streamline—it makes sense to put the many benefits you want with one carrier. Often, the products are designed to work together like bundles. It saves you, the employer, time and it also saves your employees time because it’s streamlined together.
[24:50] – Jessica’s parting piece of guidance
- Your values lead with your values. This is your passion. This is what makes you.
- Make your employees feel valued.
- MetLife – For additional resources on how to get a leg up in the ongoing war for talent, check out Jessica’s website!
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