When you talk to business owners about what make their business successful, they often say their employees are their number one assets. That’s certainly true for the Columbus small business I co-own with my father, Wolf’s Ridge Brewing. We want to keep our employees happy, and for us, part of how we do that is by offering paid family and medical leave via a short-term disability policy. But paid leave isn’t just about treating our employees well – it’s also boosted our bottom line by increasing employee retention and morale.
Small Business Majority released a scientific opinion poll that found the majority of small businesses support publicly-administered paid family and medical leave insurance programs, which would allow employees to receive partial income when they need to take time off to recover from a serious illness or care for a new child or sick family member.
Many small businesses can’t afford an HR department, which means that benefits – like health insurance, paid leave and retirement – can be difficult and costly to administer. But employee turnover is expensive as well, costing an employer approximately 75 to 150 percent of an employee’s salary. Benefits can be key to reducing employee turnover, increasing employee productivity and ultimately boosting businesses’ bottom lines.
Many small business owners think of their employees as family, and they believe in taking care of their employees in order to retain a happy and loyal workforce and to attract top talent. They also know it’s important for their employees to be able to balance their work and family responsibilities. New scientific polling shows the majority of small businesses in Louisiana, Michigan, Mississippi and New Mexico offer benefits like paid leave and provide family-friendly policies for their employees.
Scientific opinion polling shows small business owners support implementing laws that would allow employees to earn paid sick days to use when they or an immediate family member is sick, and the majority also offer a variety of benefits to their employees.
For Adam Rochon, supplying benefits and insurance is a family business. Rochon followed his mother, Belinda Roberts, into the insurance and benefits industry and today they have a collective 28 years of insurance experience. After the enactment of the Affordable Care Act, businesses began to require a more in-depth broker relationship and a knowledgeable source of information for coverage.