The LIVD Blog

Mental Health and Wellness in SMBs: How to Have a Competitive Edge

Transform your small business into a supportive environment that champions mental health and wellness benefits for a competitive edge. Discover how LIVD, an easy-to-use application, streamlines your benefits management process, empowering your team with the choice and control in selecting their preferred benefits.

Providing Benefits Beyond the “Standard”

When we think about benefits, the words “dental” and “vacation time” come to mind. Although these benefits are significant, so are those supporting mental health and well-being. These include paid access to mental health services, gym memberships, and medical insurance, to name a few.

However, these benefits, which allow us to prioritize our psychological health, are not always offered to employees. Additionally, with the ongoing stigmatization of mental health struggles, asking for support in the workplace can be challenging, and it may not even feel like an option. 

So, how can you create a supportive environment where your employees can feel comfortable confiding in you? Let’s walk through some ways to transform well-being benefits into an interactional conversation between you and your employees and the best platform to make this process more efficient and enjoyable.

SMB’s: How Benefits Become an Interactional Conversation

As the leader of your small business, it is your job to foster a safe space for your team. This starts with letting your employees know that you welcome and encourage any conversations they’d like to have about their benefit compensation

You have the power to play an active role in gaining a competitive edge, offering flexible benefit opportunities that go beyond the typical standard. In doing this, your team will recognize your devotion and interest in their needs, promoting a more positive workspace! Take advantage of your ability to form a close-knit team dynamic by going that extra mile to show you care.

You can do this by:

  • Making yourself accessible for regular meetings – this gives your employees the chance to discuss any concerns, ask questions, or provide you with feedback.
  • Initially offer diverse benefits to your team – there’s no harm in providing a more extensive array of benefits. That way, team members have all the benefits they might need at their disposal.
  • Ensure your employees know their benefits. If your employees are unsure which benefits they have, this can be pretty stressful. Be sure to provide resources that make it easy for your team to access their benefits – hassle-free! 

This brings us to our next point – how to make this process as simple as possible!

Accessing Your Benefits Made Simple

Now that we’ve established how vital offering mental health and wellness benefits can be for your small business, we’ll walk you through the best way to make this process seamless.

It all starts with LIVD – your one-stop shop for all things benefits! Aside from saving time on HR management, your team can independently access and use their benefits and offerings through the LIVD App. 

Each month, your employees will get credits deposited into their LIVD accounts. These credits can be redeemed and used towards their benefits. The best part? You can choose which benefits to offer your team – an excellent opportunity to emphasize how much you value and support your small business team members!

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