More and more businesses are offering workers quality legal services as a voluntary employee benefit, according to a nationwide survey of more than 300 human resource and benefits professionals. The study, sponsored by MetLife, found that the top reasons for the popularity of these services were improved employee satisfaction (69%) higher retention and loyalty (44%), and the ability to compete with other companies’ benefit programs (32%).
A majority of survey respondents cited these benefits of Group Legal plans:
- Helping employees achieve peace of mind when dealing with legal issues.
- Reducing employees’ levels of stress.
- Lowering the cost of legal services.
- Minimizing workplace time in dealing with personal issues.
- Providing quality legal services (57%).
More than 90% of survey respondents found that legal plans are easier, or as easy, to administer than other voluntary benefits plans. These programs also have high persistency rates for both employers and employees.
Says Bill Brooks, CEO of Hyatt Legal Plans, “This is a benefit that spans the generations and suits a diverse workforce because there’s a broad range of situations where an attorney can help.
Legal assistance at a cost of less than some attorneys may bill per hour can be an effective way to generate employee loyalty.” There’s a clear need for this coverage: According to the American Bar Association, 71% of people encounter a legal problem every year.
Will preparation and estate planning are the most frequently offered services under Group Legal plans, followed by family matters, home purchases and sales, and credit problems, among others.
If you’d like to add a comprehensive, cost-effective Group Legal plan to your voluntary Employee Benefits portfolio, please free to get in touch with the professionals at our agency. As always, we’re here to help!
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Although more than three in four businesses offer their employees wellness programs, fewer than half believe that these programs provide an effective return on investment (ROI). That’s the bottom line on a recent nationwide survey by Business Insurance of more than 300 companies.
Check out these highlights from the study:
- More than nine in ten respondents (93%) describe their programs as “extremely successful,” “very successful,” or “somewhat successful.”
- More than four in five (81%) measure the success of their programs primarily by employee participation rates, while more than two in three (68%) rely on feedback from employees.
- The great majority (85% of public companies and 70% of privately held firms and nonprofits) offer employees money or other incentives linked to participation in their programs.
- Nearly three in four (59%) see improving employee health as the main objective of their program.
- Fewer than one in three (28%) focus on reducing health care costs.
Experts say that employers can improve their ROI (directly or indirectly) from wellness programs by shifting focus from broadly-based activities (on-site health screenings and immunizations, weight-loss and stop-smoking programs, etc.) to individual health care — such as personal coaching, workplace safety evaluations, wellness newsletters, and classes on stress management and nutrition.
Companies can also boost their ROI by evaluating their programs at least once a year. The Business Insurance survey found that nearly one in three respondents (32%) failed to measure the participation rate or effectiveness of their programs on an annual basis.
If you’d like a comprehensive review of the benefits your employee wellness program provides, just get in touch with us.
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