At QuickBooks®, we understand that one of the most important factors in a small business’s success is effectively managing their most valuable resources – the humans that make their business work. We empower them do this through QuickBooks Payroll. QuickBooks Payroll is the number one payroll provider for small businesses, as it leverages the power of the QuickBooks platform to help small businesses turn their dreams into teams.
One of the most important features of QuickBooks Payroll is it ensures small businesses are paying employees accurately and on time. Now, QuickBooks Payroll can also help with employee benefits, like health insurance.
We recently surveyed more than 2,000 small business owners and human resource professionals, and found that 58 percent believe offering health insurance is very important to retaining employees, and 56 percent believe it’s very important to employee morale. What’s more, two-thirds (66 percent) said it’s also very important to offer health insurance to attract employees. Business owners in our survey said they would rather provide their employees with health insurance than other benefits or perks, such as unlimited vacation, free meals or annual bonuses.
This is likely why the majority (71 percent) of the small businesses we surveyed with 1 to 50 employees already offer some kind of health insurance benefits to their employees.
For the 29 percent of small businesses that don’t currently offer health benefits, there are a variety of reasons and challenges to overcome – mainly educational. For example, more than one-third (36 percent) of these businesses said they had no idea how much offering health insurance for employees would cost, and nearly half (45 percent) said they did not know what steps to take to get health insurance for their employees.
All respondents we surveyed said they would be more inclined to purchase health insurance if it was linked to another product, like payroll. Knowing this, QuickBooks recently launched an integration with SimplyInsured that allows QuickBooks Payroll customers to take care of their employees with easy and affordable health insurance benefits, right from within QuickBooks.
With this integration, our aim is to encourage more business owners to offer health insurance to employees by making it affordable and easy to navigate and manage.
For more information on the QuickBooks Payroll integration with SimplyInsured, please visit https://payroll.intuit.com/.
You can also find more information about employee health benefits, at our full guide here.
The data provided above is for information purposes only. The survey participants were not QuickBooks customers and their responses were not intended for use in any marketing claims about QuickBooks products. Their responses do not represent the views of Intuit or its employees.