Over 5.4 million new businesses were formed in 2021 and 49% of new entrepreneurs were women. An important consideration these women will face as they grow their businesses is navigating and evolving health care benefits for their employees.
We profiled four women-owned small businesses to learn their leaders’ best practices when it comes to building and implementing inclusive benefits offerings.
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Partnering with trusted professionals for benefits guidance.
When it comes to choosing health care options for Maribel Lieberman’s boutique chocolate business, MarieBelle, Lieberman enlists a trusted health insurance agent to guide her through the complexities of each plan, including what’s covered and not covered, premium costs, prescription costs and the deductible. Being armed with all the information about each plan enables her to weigh her options strategically, select the most optimal plan for her team and candidly relay information she’s learned from her insurance agent.
Prioritizing mental well-being.
While mental health support is important across all industries, executive director Jennifer Hanlon Wigon of Boston-based day shelter Women’s Lunch Place recognizes the particular impact their line of work has on her staff, who experience a high amount of secondary trauma. Women’s Lunch Place serves women experiencing homelessness, addiction, mental illness and domestic abuse. With this in mind, Wigon and her leadership team thoughtfully choose a plan that covers mental health counseling in addition to physical health benefits. And while cost is an important factor, jumping to a new plan every year for the sake of company savings would make employees of their small agency feel unsettled and nervous. Wigon notes she aims to stay consistent as much as possible to not disrupt their sense of stability.
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Maintaining continuous two-way communication.
A common thread all leaders are aligned with involves checking in with their employees for benefits input and making sure employees understand their benefits. For Boston-based All Aces, Inc., which guides organizations on their journeys to improve diversity, equity and inclusion within their work cultures, communication begins during the recruitment process and continues throughout the year. Three times a year, Dr. Atyia Martin, CEO and founder, builds check-ins with her staff into her routine to make sure they’re thinking about everything that contributes to their sense of well-being, and to remind them of their benefits and how to tap into them.
“It’s really education and helping them understand what they’re actually eligible for,” adds Wendy Spivak, co-founder of Charlestown-based public relations and event management firm The Castle Group. “We feel a responsibility to walk the team through [their health plan] so they can take advantage of all the benefits.”
Facilitating well-being through collective care.
Through their unique philosophy on well-being grounded in the foundational value of collective care, All Aces Inc. prioritizes whole health beyond their benefits package. “[Collective care is] this idea that we are interdependent and our ability to do self-care is dependent on the organization’s ability to create space to do that,” says CEO Martin.
To implement this, the company sets aside key date ranges three times a year during which they do not commit to any major client engagements. Instead, employees are encouraged to focus on internal strategic projects or professional and personal development. Alternatively, employees can use this time to take a vacation with their families or simply to invest in their own self-discovery.
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All four of these women have made thoughtful choices on health coverage to benefit their organization and their employees. From clear communication about benefits to making mental health a priority, there’s plenty of great examples these women have provided that anyone can follow. For more best practices from women small business owners, read our full article with the Boston Globe.
