Il corporate welfare in Italian SMEs it is no longer a simple set of benefits, but a strategic growth leverThis is what emerges from the PMI Welfare Index Report 2026 di Generali Italy, which celebrates the tenth anniversary of the initiative and photographs the evolution of welfare ten years after the reform of the sector introduced by the 2016 Stability Law.
Today 76,5% of the small and medium-sized businesses has reached at least one average level of welfare, while companies with a high or very high level rises to 33,9%, more than three times the 2016 figure (10,3%). At the same time, the share of companies stuck with the so-called "compliance welfare", limited to contractual obligations, is decreasing, going from 42,7% to 18,2%. The results are also reflected in the accounts: the most advanced companies record a turnover per employee of 396 thousand euros, a profitability higher up to 40,5%, a employment growth which reaches 20,4% and a greater ability to attract and retain talent.
Giancarlo Fancel Country Manager & CEO of Generali Italia, stated: "The 2026 PMI Welfare Index Report confirms that corporate welfare is now an integral part of business strategies and a concrete driver of growth, capable of generating value for employees, their families, and the local communities. Over the past ten years, we have supported a process that has strengthened awareness of the social role of SMEs, which are increasingly key players in economic cohesion and development. As Generali Group, we support the growth of the Italian manufacturing sector with concrete initiatives, fully embracing our role as a Partner to the Country."
The survey, carried out on over 7.000 small and medium enterprises belonging to all the main production sectors, highlights a new phase of maturity, characterized by more structured initiatives, improved management capacity and a growing focus on measuring social impact.
Welfare is also growing among micro-enterprises
Growth is not limited to larger companies. According to the report, 24% of microenterprises presents today a high level of corporate welfare, a sign that the phenomenon is consolidating even in smaller realities.
Also on the territorial plan the gap appears small compared to other economic indicators. Companies with advanced welfare systems represent 37% of the Northern Italy and 29% in the Noon, a difference that the report also links to the tax incentives introduced in 2016, capable of encouraging a more homogeneous diffusion of welfare tools.
From welfare as a cost to welfare as a business strategy
One of the most interesting aspects that emerged from the report concerns the cultural change which accompanied this growth. Companies with a defined approach "strategic welfare” now represent 19% of the sample, compared to 8,5% in 2016. These are companies that consider worker well-being, corporate reputation and social impact to be central elements of their strategy.
31,1% of SMEs fall into the category of "rewarding welfare”, which integrates welfare initiatives into salary and incentive policies, while 31,7% belong to the “evolving welfare”, composed of companies that are progressively structuring their approach. Only 18,2% remain anchored to a predominantly administrative and compliance-based approach.
According to the PMI Welfare Index, the path taken over the last ten years can be divided into three phases: an initial period of expansion between 2016 and 2019, a consolidation phase during the pandemic years, and the current maturity phase, in which welfare becomes an integral part of the company's strategy.
Growing attention to social impact
Evolution also concerns the social role of companies. 87,6% of companies consider health e of your digital ecosystem. a central priority, while 75,9% believe it is necessary to strengthen their social role. Furthermore, 66,4% of companies recognize the importance of contributing to development planet of production chains and territories.
In companies that have integrated welfare into their corporate strategy, social impact levels can reach 90%, thanks to a greater ability to listen to workers, more structured organizational models, and initiatives tailored to people's real needs. This data confirms how welfare is progressively moving beyond the internal dimension of the company to become a tool capable of producing positive effects on local communities as well.
More welfare, more productivity: the correlation that strengthens
As in previous editions, the PMI Welfare Index highlights an increasingly close relationship between corporate welfare and performance economicCompanies with higher levels of welfare record a turnover per employee that reaches 396 thousand euros, approximately 20% higher than the average. Even the profitability grows significantly, with values up to 40,5%.
La employment growth tells the same story. Between 2021 and 2024, companies with advanced welfare programs increased their number of employees by up to 20,4%, double the percentage of less structured companies. The quality The growth landscape looks different. The share of companies classified as experiencing sustained and profitable growth increases from 21,3% among those with initial welfare benefits to 39% among companies with very high welfare benefits, highlighting a true virtuous circle between personal well-being and economic results.
Hiring, youth, and retention: welfare becomes a competitive advantage.
In an increasingly complex job market, welfare also confirms itself as one attractiveness toolIn 2025, 61,5% of SMEs hired new people, but the figure rises to 78% among companies with very high welfare benefits. The most advanced companies also demonstrate a greater ability to recruit young people under 30 and offer career paths that encourage their retention.
Over 45% of companies report high levels of use and appreciation of employee welfare measures. At the same time, over 60% of the most structured companies report an improvement in their ability to retain employees, confirming welfare as one of the most effective tools for growth. talent retention.
Health, prevention, and community: expanding the boundaries of corporate welfare.
The 2026 edition also highlights the growing role of SMEs in strengthening social safety nets. In a country characterized bypopulation ageing and from the increase of care needs, the use of supplemental healthcare tools is growing. Eleven percent of companies have health insurance, while prevention initiatives are increasing: 13,4% offer health check-ups and 6,9% promote screening programs, including those for cancer prevention.
At the same time, ties with the local community are strengthening. The most advanced companies use local suppliers in 61,7% of cases, support social initiatives in 37,3% of cases, and develop partnerships with third-sector organizations, contributing to the construction of an increasingly widespread and shared welfare model.
