The SME gap is the biggest challenge for employee benefits

Sixty percent of employee benefit consultants (EBCs) believe better SME take-up of employee benefits is the biggest challenge for the industry over the next two years, with flexible and voluntary benefits offering most potential for growth. Small businesses account for 99.3% of all private sector companies - they employ 15.7m people and make up 60% of all private sector employment - with a combined annual turnover of £1.8tn in the UK. While a lack of HR and poor communication are holding many SMEs back, they represent a huge amount of potential for the employee benefit market. Acco...