Did you know that American businesses lose more than $300 billion every year because of employees' stress-related issues, such as productivity, absenteeism, turnover and out-of-pocket medical, insurance and legal costs?
Given that, should employees' legal woes be included in the issues for employers to take a closer look? Without a doubt, if they are concerned about absenteeism and lost productivity. According to studies conducted by Russell Research:
- 50% of employees took time off work to resolve their legal issue. (1)
- On average, people experiencing a legal issue underestimated the time it takes to resolve it by four weeks. (2)
Offering employees a voluntary benefit like legal insurance is one way to regain productivity and reduce absenteeism. It’s an easy-to-access voluntary benefit that provides a ready, affordable tool to enable employees to respond to a legal situation and still remain focused on their work.
The proof is out there. 96% of people who worked with an attorney2 to resolve a legal matter believe:
- Provided them the best outcome or
- Decreased their stress or
- Saved them time.
What's the takeaway?
Absenteeism and reduced productivity by employees who are dealing with legal issues on their own is avoidable. Offering a legal insurance plan can help improve productivity and mitigate work-attendance issues related to employee's personal legal issues. And this can play a role in bolstering overall workplace wellness. In fact, 90% of members of an ARAG legal insurance plan feel that having legal insurance reduces their stress overall.3
Interested in learning more about how legal insurance can benefit you and your employees? Contact us for more information.
1 How Legal and Financial Issues Impact Employee Wellness. Russell Research for ARAG. February 2017.
2 "How the Use of an Attorney Impacts Legal Outcomes." Russell Research for ARAG. January 2016.
3 2016 ARAG Plan Member Survey
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