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Ways For Small Businesses To Take Care Of Workers Without Breaking The Bank

Written by Jenna Weiner
Published: 7/19/2010

MetLife report details helpful tips for small business owners.

According to a study by an insurance industry giant, small businesses can improve worker's satisfaction without breaking the bank.

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MetLife made small business news by releasing a report entitled "Building A Better Benefits Program Without Breaking The Budget: Five Practical Steps Every Small Business Should Consider," which revealed that only about one-third of employees were satisfied with their benefits. In order to help companies keep their workers happy, the study educates small business owners on what is important to employees.

The five steps are: giving non-medical benefits that include dental disability and life insurance, a wellness program, giving financial advice, communicating existing benefits more effectively and helping encourage a balance between work and life.

"While healthcare legislation has grabbed the attention of small business owners and brokers, it is important to recognize that health coverage may become less of a differentiator when it comes to hiring, retaining and motivating workers," said Scott Beck, vice president of broker and consultant strategies at MetLife.

This isn't the first time MetLife has made headlines in recent days. The insurance company's foundation recently gave a $250,000 grant to the National Staff Development Council in an effort to revise the council's Standards for Staff Development.

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