3. Employee Healthcare Coverage

Small and medium-sized businesses (SMBs) are working hard to adapt to the current situation. They’re making strategic operational choices, including cutting costs, in order to invest in the long term success of their business. Though a majority of SMBs continue to be hit with revenue losses since the start of the COVID-19 crisis, they are making intentional choices about cost cutting. Two thirds (66%) of those who cut costs in some way are confident these decisions will help them weather the pandemic.

92% of SMBs have made efforts to shift to a remote workforce as a result of the COVID-19 pandemic. While 75% of those say shifting to a remote workforce has been challenging, 65% wish they had moved to a remote model earlier.

Most small- and medium-sized businesses (SMBs) have taken concrete actions to enhance employee wellbeing during the COVID-19 pandemic. The most common and effective of these actions has been allowing for the flexibility to balance the new work/home life conditions. All things considered, the majority of SMB employees remain optimistic in light of the pandemic.

Most small- and medium-sized businesses (SMBs) say the COVID-19 pandemic will change the way their business approaches HR in the future, especially when it comes to improving employee morale and health/ safety. With the pandemic revealing some aspects of their current HR capabilities as lacking, SMB leaders recognize the need for additional HR support as they move forward.