Health insurance. A 401(k). Wellness programs. These are all relatively common employee benefits, and are certainly helpful. But this list of benefits could use a healthy dose of added imagination and consideration to meet the increasingly diverse needs and overall well-being of today’s employees.
The benefit that stands out as frequently forgotten, but exceptionally valuable, is a legal insurance plan. It’s an affordable voluntary benefit that more and more employers are offering to help bolster employees’ overall well-being.
In fact, the number of organizations offering legal assistance has grown to 25 percent, including a five percent increase since 2012. (1)
Plus, given that three out of four employees will experience a legal life event each year,2 a large number of employees could benefit from a legal insurance plan. It is a benefit that easily pays for itself. With premiums typically $20 a month, legal insurance plans are very affordable for what they offer — situations such as a traffic citation or contractor dispute, buying a house, getting married or adopting a child.
A legal insurance plan is a great benefit — giving employees a place to turn when everyday legal issues occur and saving them time and money when handling those issues. And with legal issues taken care of, employees can remain focused and productive at work. That’s a win-win for everyone.
1 “2016 Employee Benefits: Looking Back at 20 Years of Employee Benefits Offerings in the U.S.” The Society for Human Resource Management. June 2016.
2 How Legal and Financial Issues Impact Employee Wellness. Russell ResearchSM for ARAG. December 2016.
