Inertia is a powerful force against implementing Employee Benefits Schemes. Owners and Chief Executive Officers of small businesses are busy, with no time for distractions. Advisers wishing to explain the compelling proposition of Risk & Retirement Funding for employees are often dismissed with irritation.
Amidst all the pressures and urgent issues, the last thing on CEOs minds, is benefits for their employees. Yet most firms greater than 15 years old, even small ones, offer Risk & Retirement Funding to their employees.
Why?
Because employees want it. They recognise that they do not have the discipline and expertise to arrange these for themselves.
Furthermore, employers do not like walking away from employees after decades of hard work, with the message: Look after yourself! They recognise that employees value the benefits, and they must offer them to remain competitive. Ultimately employers recognise that offering these benefits is the right thing to do.
Whenever we implement a Scheme, it reinforces the compelling proposition to do so. There is typically a fight initially against inertia and no sense of urgency. Once introduced there is relief and appreciation. It is all greener on the other side!
Small businesses don’t cross the bridge until they do
