Business Owners - Planning Opportunities
PRESENTED BY PRINCIPAL
Business owners faced historic challenges during the pandemic, but now they’re gaining confidence. A record 36% classify their business as growing, and many are focused on business protection, adding employees, and offering more benefits:
Business protection remains No. 1. It’s been their top priority since 2010, yet fewer than half of owners (47%) have enacted a plan.
They’re adding employees. A significant increase in owners report their confidence to grow their business by adding employees (60%).
Benefits help them recruit and retain. Seventy percent of small and midsize businesses say that employee benefits help them recruit qualified employees—and more than 70% say benefits help improve retention.
Key employee benefits help them reward and retire. The number of businesses with four or more key employees has grown to 40%, compared to 35% in 2021. More than half (55%) would like to reward key employees with additional benefits.
More insights from the recent survey.