Paid family leave has been a hot topic lately, and as usual, the impact to small business is a central component of the debate. New scientific opinion polling we released this week with the Center for American Progress finds the vast majority of small businesses in fact support paid family medical leave programs, and that many small employers already offer formal or informal family leave policies, many of which are paid.
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.
Scientific opinion polling shows freelancers and self-employed entrepreneurs are doing reasonably well financially in the post-recession economy, but many are not able to save for retirement. As a result, they support portable retirement vehicles that address the flexible nature of their work.
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.
The economy is improving, but Illinois small business owners and their employees are facing another financial hurdle: retirement security. The U.S. currently suffers from a retirement savings gap of more than $6 trillion, and more than 38 million households do not have any retirement savings at all. Illinois small business owners and their workers are no exception.
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.