Survey Says Small Businesses Hit Employee Happiness Out of the Park

COLUMBUS, Ga., May 9, 2017 /PRNewswire/ -- Small businesses are the backbone of America, representing more than 90 percent of businesses today,[1] and now they can also claim to be some of the happiest places to work.  According to the 2017 Aflac Small Business Happiness Report released today by Aflac, the leader in voluntary insurance sales at the worksite in the United States, insurance benefits remain a key area for improvement. The report, in its second year, unveils a number of findings about what it's like to work for a small business and identifies several factors related to employee satisfaction and happiness. It is designed to serve as a resource for small-business owners looking for insight to better support their employees and keep them happy.

"At Aflac, we understand that employees are the most valued asset to any small business, but many small-business owners juggle numerous responsibilities and struggle to find the information they need to create a strong, loyal team," said Matthew Owenby, Aflac senior vice president and chief human resources officer. "And while our report shows that small-business owners can breathe a sigh of relief because their employees are happy, it also sheds light on areas of opportunity for employers looking to build upon that success, including improving their benefits offerings."

Small-business employees are among the happiest
The 2017 Aflac Small Business Happiness Report found that 84 percent of small-business employees are happy in their current job and nearly half (48 percent) agree that most, or all, of their happiness in their current job is actually because they work for a small business.

While the flashy perks offered by many large companies are enticing, working for a small business offers its own advantages — which can often be more lasting and influential to employee career development. Factors such as seeing the fruits of their labor, feeling that their input truly matters and being rewarded for their hard work were all cited by respondents as the best parts of working for a small business. Additionally, compared to working at a large company, employees indicate that small businesses make them feel more appreciated (67 percent), accomplished (54 percent), productive (55 percent) and motivated (52 percent).  

Benefits still missing the mark for many small-business employees
Although small businesses are fostering happy workplaces, 72 percent of respondents indicate that an improvement in their benefits offerings would make them even happier. The report also generated 22 percent of respondents that say their benefits offerings is one thing they like least about working for a small business.

More than one-quarter (26 percent) of respondents said that benefits offerings would be their main reason for switching over to a large company.

"While adding benefits may seem out of reach for some small-business owners, it could mean the difference between losing and retaining talented employees," Owenby said. "Offering a more comprehensive benefits package that includes supplemental insurance options would enable companies to provide a more robust benefits package at little or no impact to the bottom line."

To learn more about the 2017 Aflac Small Business Happiness Report, visit aflac.com/happy.

About Aflac
When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the leader in voluntary insurance sales at the worksite. Through its trailblazing One Day Pay^SM initiative, Aflac U.S. can receive, process, approve and disburse payment for eligible claims in one business day. In Japan, Aflac is the leading provider of medical and cancer insurance and insures 1 in 4 households. Aflac insurance products help provide protection to more than 50 million people worldwide. For 11 consecutive years, Aflac has been recognized by Ethisphere as one of the World's Most Ethical Companies. In 2017, Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for the 19th consecutive year and in 2017 included Aflac on its list of Most Admired Companies for the 16th time. In 2015, Aflac's contact centers were recognized by J.D. Power by providing "An Outstanding Customer Service Experience" for the Live Phone Channel. Aflac Incorporated is a Fortune 500 company listed on the New York Stock Exchange under the symbol AFL. To find out more about Aflac and One Day Pay^SM, visit aflac.com or espanol.aflac.com.

Media contact – Kristen Fraser, 706.243.5543 or [email protected]

Analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667, FAX 706.324.6330, or [email protected]

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

[1] U.S. Small Business Administration, "United States Small Business Economic Profile," accessed on March 23, 2017 - https://www.sba.gov/sites/default/files/advocacy/United_States.pdf

SOURCE Aflac

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