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May 7, 2024Each year, Small Business Week reminds us of the outsized impact that little companies make on our lives. Small business owners help to create vibrant local economies, including robust Main Streets and strong employment opportunities. These entrepreneurs are neighbors who sponsor youth sports teams, donate to local nonprofits, and otherwise work to support their communities.
You play a part in supporting the small businesses in your neighborhood every time you choose to buy their products or utilize their services. At Innovo Benefits Group, we’ve built our business around helping small and mid-sized companies navigate the often complex world of employee benefits and guiding them through the process of establishing the competitive benefits and human resources services they need to attract new employees and keep the ones they have.
Small Business as a Family
Small business owners take pride in the fact that they have built their company from scratch or taken over an existing business and helped it grow. They are hardworking and deeply attuned to how their business operates, often playing a role in everything from hiring employees to finding new customers.
This commitment means that small businesses aren’t just supporting their community but also creating a community of their own. They have close-knit teams with strong relationships and a shared sense of purpose, motivating employees to contribute to their company’s success.
Small businesses provide employees with the opportunity to get involved in a variety of tasks, fostering a well-rounded skill set and accelerating their career growth. In addition, small business owners often have a more personal relationship with their employees, which strengthens their understanding of what their workers need and creates a more supportive company culture.
Taken together, these factors create teams who are proud of their work, feel valued by their employer, and strive to support the success of their company.
The Small Business Benefits Dilemma
A positive company culture can do wonders for a small business, but it isn’t always enough to support its workers. Despite their many advantages, small businesses may struggle to offer the HR and benefits services necessary to stay competitive with larger companies. This challenge has become more pronounced in recent years, with businesses facing greater competition for talent.
Small business owners, often limited by both time and money, face challenges in HR and benefits administration. Limited resources and a smaller employee pool make it difficult to offer competitive benefits packages at an affordable cost. Complex plan designs and compliance mandates add additional burdens, often leaving them with insufficient time to address all these needs effectively.
How Innovo Empowers Small Businesses
At Innovo, we recognize the challenges faced by small and mid-sized businesses and provide comprehensive services to support them. We leverage advanced technology and a team of experienced HR and benefits professionals to meet the unique needs of each client.
Innovo helps small business owners navigate the possibilities and complexities of different benefits plans, ensuring that they find the funding model that meets the needs of their employees and best fits their budget. Our experienced benefits administration professionals also help ensure that small businesses are compliant with benefits laws and that their employees are fully informed about their plans, allowing them to make the best decisions for themselves and their families.
Understanding that many small businesses don’t have the resources to staff a full-time HR professional, Innovo also offers concierge-level human resources services. Innovo makes it easy — simply choose your monthly support hours and identify the services you need. We'll handle the rest. This can solve a number of challenges for a small business at an affordable cost and allows the client to focus on what they do best.
Innovo's Commitment to Value Goes Beyond Just Service
By accepting only standard commission levels and working with all carriers, Innovo ensures that our clients are getting the best possible value without conflict of interest. Moreover, Innovo consistently donates broker bonuses to charity to remove any risk of impropriety. Learn more about how Innovo Benefits Group can help your small business thrive by reviewing our full range of benefits management and HR services.