This episode with Amy Friedrich, President of US Insurance Solutions at Principal Financial Group, was recorded in early February…before the outbreak of Covid-19 in the U.S. The content is still applicable for small business owners and will be long after Covid-19 is gone. 

Key Takeaways from Amy Friedrich

  • Our annual Well Being Index Survey helps us better understand what small business owners are worried about, what they are excited about, and how they feel about themselves, their companies and the economy.
  • Insurance companies need to do a better job explaining to business owners what we offer and how we can help them when they need us.
  • Business owners should spend time to learn more about their employee benefits packages and how they can help with hiring and retaining the best employees. It shouldn’t be “choose the lowest price package” and then move on. This is the 2nd biggest expense for most small business owners.
  • Most employees respect the owner of their company. If the owner provides good information on retirement planning, and emergency savings, employees are more likely to listen. These are the conversations that should be taking place now.