When Business Owners Are Under Pressure: Don’t Wait to Check In
Economic uncertainty has a way of changing business decisions and direction extremely quickly.
Sometimes it’s obvious. During the pandemic, I witnessed hundreds of businesses that were suddenly dealing with shutdowns, layoffs, reduced hours, cash-flow concerns and difficult decisions about what they could continue to afford.
Other times, the pressure builds more gradually.
Rising costs. Slower sales. Industry disruption. Tariffs. Supply-chain challenges. A major client loss. Uncertainty about what the next few months may bring.
Whatever the cause, small and mid-sized business owners often carry that pressure quietly for some time before it shows up in a formal benefits conversation.
That’s why waiting until renewal to have a chat may be too late.
For advisors, one of the most valuable things you can do during periods of economic instability is simply to check in before a client feels forced into a decision.
A proactive check-in can matter more than you think
Clients may not always tell you when things are becoming difficult. They may be mulling over their future and making decisions without inviting you into the conversation, or even realizing that they probably should include you.
They may be trying to protect employees, avoid layoffs, maintain benefit programs, absorb rising costs or make decisions they hoped they would never have to make.
And while advisors can’t solve the broader economic conditions affecting a business, they can make sure the client knows they are not navigating the benefits implications alone.
Sometimes that starts with a very simple question:
How are you doing with all of this?
That question can open the door to a much more meaningful conversation than waiting until the client calls with a cancellation request or a list of urgent questions.
Consider a two-level outreach approach
For advisors with a large block of clients, personally calling everyone may not be realistic.
A simple, thoughtful email to the broader client base can still be helpful.
It might acknowledge that some businesses are facing increased uncertainty and remind clients that support is available if they have questions about staffing changes, benefit costs, employee communication or other plan-related concerns.
From there, advisors can identify clients who may warrant a more personal reachout.
That could include businesses in industries known to be under pressure, clients that rely heavily on export markets, organizations that have recently experienced significant growth or slow down, or any account where you already know financial strain may be developing.
The point is not to assume a client is struggling.
It’s about making it easier for them to tell you if they are.
Ask what is changing before focusing on the plan
A client who is under financial pressure may be thinking about much more than benefits.
They may be wondering whether they can continue hiring. Whether they need to reduce hours. Whether a planned expansion needs to be delayed. Whether layoffs are becoming unavoidable.
Those broader realities matter because they often shape what happens next with the benefit plan.
Listen carefully first. Before jumping to plan changes, it can help to understand what the business is actually facing.
Questions might include:
What has changed most for your business recently?
Are you anticipating any staffing changes?
Are benefit costs becoming more difficult to manage?
Are employees asking questions you need help answering?
Are there upcoming decisions where you would like us to help clarify the implications?
The goal is not to pry into the client’s finances.
It’s to understand enough context to support them well.
If layoffs are being considered, clarity matters
This is one area where proactive advisor support can be especially valuable.
Layoffs, temporary reductions in staff or other workforce changes can raise important questions about benefit eligibility, continuation of coverage, premium responsibility, reinstatement and employee communication.
Those details can vary by carrier, contract and circumstance, which makes it especially important to clarify them before decisions are communicated.
An advisor can help the client understand questions such as:
When does coverage end during a temporary or permanent layoff?
Can certain benefits continue?
Who is responsible for premiums during the layoff period?
What happens when an employee returns?
Are there reinstatement timelines or evidence requirements?
Are conversion or continuation options available?
What should employees be told, and when?
A business owner dealing with the possibility of layoffs already has enough on their mind.
Providing clear information early can reduce confusion for both the employer and the affected employees.
Remind clients of the supports they already have
When businesses are under pressure, attention often goes immediately to cost.
But sometimes there are resources already sitting within the benefit plan that could be especially valuable during difficult periods.
An Employee Assistance Program is one example.
We tend to think of EAPs as an employee resource, but depending on the plan, business owners and leaders may also have access for themselves as insureds, but also on a business level as well.
That can matter.
Owners are often carrying responsibility for the business, their employees, their families and the decisions that affect all three.
Mental-health support, counselling, financial guidance, virtual care or other existing plan resources may be more relevant than ever during periods of instability.
Simply reminding a client that those supports are available can be meaningful.
Help clients understand their options before they feel forced to act
When budgets tighten, benefits can quickly become part of the cost conversation.
That doesn’t necessarily mean a client wants to eliminate the plan completely.
They may simply be trying to understand what options exist.
This is where advisors can add real value by helping the client explore the implications of different choices before making a major change.
Depending on the situation, that may involve reviewing contribution levels, plan features, eligibility, cost-sharing arrangements or other available options.
The important part is timing.
A client who feels supported early may be more willing to have an open conversation about what they are facing.
A client who waits until the situation becomes urgent may feel they have fewer choices.
Watch for changes in behaviour, not just direct requests
Financial stress does not always arrive with a clear announcement.
Sometimes it shows up in subtler ways.
A client who normally responds quickly may become harder to reach.
Decisions may be delayed.
Every cost may suddenly receive more scrutiny.
Questions about reducing coverage may become more frequent.
None of these things automatically mean the business is in trouble.
But they may be signals worth noticing.
Strong client relationships are often built in these moments — when the advisor pays attention before the client has to ask.
Support does not always mean having the answer
Advisors can’t control tariffs, inflation, interest rates, industry slowdowns or unexpected economic events.
And clients are not necessarily expecting them to.
What they may remember is whether their advisor reached out.
Whether they felt comfortable asking questions.
Whether difficult information was explained clearly.
Whether they were reminded of options they didn’t realize or remember they had.
And whether someone took the time to ask how they were doing before the situation reached a breaking point.
Economic uncertainty will always come in different forms.
The circumstances may change, but the opportunity for proactive support remains the same.
Sometimes the most valuable thing an advisor can do is reach out proactively, and let the client know they are there to offer support and guidance.
A PRACTICAL RESOURCE FOR ADVISORS
Looking for a practical way to put this into action? The Proactive Client Check-In offers questions and prompts to help guide the conversation.