Small business in the US has a massive labor shortage. The NFIB Small Business Economic Trend survey reported a 47 year high in open job positions and 95% of business owners cannot find qualified employees. The labor shortage is causing real problems. 80% report a loss in sales due to labor shortage and many small businesses are reducing hours of operations or even having to shut their doors.
Business owners are doing all they can to increase staff—63% increased wages, 13% increased paid time off, and 13% even instituted a signing bonus—but the new hire rate hasn’t improved because money doesn’t address the real needs of today’s job seekers.
“The world has been in a perpetual state of crisis for the last two years,” said Ken York, President of LifeExec, “people are worried about disease and natural disasters and potential employees say personal safety is their primary decision driver.
Recent studies state over 72 percent of potential applicants want employers to deliver benefits that provide security and safety for themselves and their families. According to York and his team at LifeExec, the solution to part of the labor crisis is simple but historically unavailable. Small businesses (20 employees or less) simply need to offer health and security benefits to attract employees, but 90 percent of small businesses don’t qualify for benefits packages.
“It’s not the benefit companies’ fault,” said York, “benefits providers require payroll deductions and a process to deliver benefit packages.”
York shared that large companies have facilities that smaller companies do not. According to York, the great news is benefits providers want to help small businesses; they just need the proper channel. A breakthrough benefits package for small business, according to York, is something that his team at LifeExec has been working on.
York’s company, LifeExec, is a life management web application made up of a community of individuals and small businesses. The team at LifeExec works with benefits providers to deliver large business benefits to small businesses via its web-based community.
LifeExec’s new LifeExec Advantage Health benefits program is a collection of high-value benefits that includes Telemedicine, Vision, Dental, Pharmaceuticals, Alternative Medicine, Labs, MRI and CT scans, Diabetic Supplies, Medical Equipment, and more.
LifeExec Advantage Health benefits program has no restrictions for age or preexisting medical conditions. Program benefits are available to both the employee, their spouse, and their children (under age 26). The cost of LifeExec Advantage Health is only $24.95 a month.
“Imagine the impact on recruiting and retention when you go from no benefits to one of the best benefits programs for only 1-2 hours of pay per month,” said York, “employees receive the security they need at a price any employer can afford.”
According to York, offering the benefits package proves genuine care for wellbeing outside of the work environment and makes employees feel like they matter.
“Each of the health benefits programs are established, nationwide providers, used by millions of people every day,” said York, “The LifeExec Advantage Health benefits program is possible because each provider genuinely wants to see small business in the United States thrive.” The LifeExec Advantage Health benefits program officially launches September 2021. To save the date and access LifeExec’s healthcare benefits visit: https://lifeexec.mykajabi.com/lifeexec-advantage