About this report

When it comes to employee benefits, it’s often said that size is a limiting factor: small- and medium-sized enterprises (SMEs) offer less choice, fewer perks, and a smaller safety net than larger employers. But the reality is more complex. For SME employers, the key challenge isn’t about what’s available. Instead, it’s about whether employees understand and value their options, and feel able to make the most of them.

We set out to explore the benefits landscape from the people who shape it, day-in and day-out. As part of our research, we spoke to more than 1000 SME leaders in HR and benefits to understand the drivers behind their decision-making, how this shapes their strategy, and the outcomes for their employees.

The narrative that emerges isn’t about headcount or budget. Rather, it’s about clarity, confidence, and communication. Caring about their people is one of SME’s biggest strengths – but without the right guidance, leaders risk overlooking the issues that matter most to their employees. Overcoming these blind spots can be the difference between benefits that exist on paper, and benefits that genuinely improve people’s lives.