Big company benefits for small businesses

A guide to protecting, nurturing and growing your business for the benefit of you and your employees.

Most business owners are working to a plan. In a fast-growth start up this could be working towards a sale or in an established family business the aim may be creating value for the next generation.

That’s Plan A. But if unexpected health problems happen, that’s when you need a Plan B. Because every business, no matter how small, needs to know it could continue if key people are faced with the unexpected.

Whilst no one knows exactly what the future holds, expert financial planning can give you the confidence to still go after your goals - knowing you’re ready for anything.

How can I protect my business from shocks?

Every business is different, and costs can vary depending on circumstances, but there are similarities that all businesses can consider:

1. Private medical insurance (PMI)

Avoid NHS waiting lists and cover the cost of private treatment.

2. Income protection

Secure a regular income if you’re unable to work due to illness or injury.

3. Critical illness protection

Receive a lump sum if you are diagnosed with a qualifying illness.

4. Life insurance

Pays an agreed amount if you die.

Our guide also provides a couple of case studies to show this can work out in practice.

How to take care of your employees?

The guide also looks at how you can take care of your employees. Your staff are at the heart of your business, with experience and skills that you don’t want to lose.

Recruiting and retaining talent can be a challenge, and the benefits you offer will affect how appealing your business is as a workplace, as well as how long your employees stay with you.

Your staff can also benefit from the insurances mentioned above. But what else can you do to recruit effectively, retain talent, and reward loyalty?

Recruiting, retaining, and rewarding talented employees can improve the stability of your business, and may even save you money in the long run. So how do you keep them long-term?

One of the key employee benefits is obviously a good workplace pension scheme. However, increasingly employers are looking to provide wellbeing benefits that help both your employees and your business generally. This could be psychological and physical wellbeing or financial wellbeing and our guide outlines some of the options for both.

This guide is just a starting point but it does give business owners an overview of some of the considerations for you to take into account. Click on the link below to read or download it.

If you would like to discuss any of the issues or considerations raised, please do not hesitate to contact us.

Download our benefits for small businesses guide

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