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!