Deluxe (NYSE: DLX), a Trusted Payments and Business Technology™ company, today announced the findings of its DLX State of the Workplace survey offering critical insights for small- and mid-size businesses looking to retain and strengthen their talent in 2023. The survey found that the current workforce is focused on strength of onboarding, flexible work schedules, and increased benefits.
The Minneapolis-based company surveyed 1,000 U.S. small business employees and 100 Human Resource decision-makers online, to determine in what aspects of the workplace employers and employees are in sync, such as paid time off being the most preferred benefit, and where employees and employers diverge, such as the number and scope of benefits expected by employees, leaving room to improve operations and engagement.
“Small businesses have relied on our platforms and solutions for years,” said Michael Reed, President of Payments for Deluxe. “This survey provides further insights on how to run a small business, something we have been providing to our customers for years, with data and insights necessary to make decisions on their future.”
Deluxe, which provides payment, data, and promotional solutions to small businesses, discovered some key takeaways for business owners and entrepreneurs in the State of the Workplace Survey:
- The “Great Resignation” appears to have peaked, but younger employees in the 18-24 age range are most likely to leave a position.
- A company’s commitment to community and mission increases employee engagement and retention.
- Better communication of existing employee benefits, beyond the initial onboarding, helps with retention.
- Flexible scheduling is the most urgent frontier for employee retention – which has ramifications for performance reviews, management of employee time, and work-family balance.
- Employee well-being and mental health programs are high on the list of employees.
- Younger employees want family-friendly benefits, while older employees appreciate retirement and healthcare options.
- Employees and employers agree – paid time off, especially to reduce stress and burnout – is a number one benefit at this time.
Since 1915, DLX has remained committed to supporting businesses and the communities they serve, providing the tools and solutions they need to grow and thrive. In late 2021, Deluxe President and CEO, Barry McCarthy, published the best-selling Small Business Revolution: How Owners and Entrepreneurs Can Succeed. The book shared knowledge McCarthy gleaned from the company’s 106-year history and anecdotes from its Emmy-nominated TV show Small Business Revolution. Both the book and the series offer entrepreneurs the opportunity to learn how to grow and thrive in any environment.