Attracting and Retaining Employees

Legal Insurance: A Voluntary Benefit to Help Ensure Talent Acquisition Equates to Retention

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When it comes to talent acquisition, employers are implementing a range of tactics to introduce themselves to the best hires. Some companies are dipping into a referral network that radiates from their current employees to make contact with ideal candidates in their industry. Social media — LinkedIn, for example — fosters a virtual job-fair atmosphere wherein employers can approach candidates. Others are creating programs at universities and tech schools alike to hire the most promising graduates.

Once companies acquire talent, what can they do to retain new employees?

Aside from competitive compensation packages, employers might consider offering well-rounded voluntary employee benefits portfolios. A Harris Interactive survey conducted in 2014 shows that while 65% of employees say it is important their employer offer voluntary benefits, 47% of their employers have not offered an additional voluntary benefit since 2010.

An attractive voluntary benefits package is one that takes a holistic approach to employees' welfare: medical care, financial planning, retirement planning and educational savings plans each address a critical aspect of employee wellness. One benefit with multi-purpose utility that is gaining popularity is a legal insurance benefits plan.

A legal plan is a suitable addition to a benefits portfolio because it can address numerous situations that arise in an employee's life. Employees can work with an attorney to:

Protect themselves for situations that call for identity theft coverage, financial counseling, real estate dispute and divorce situations.
Use the benefit to carry out financial, tax and estate planning goals.
Safeguard family members with trusts or advanced directives.

Give employees a place to turn for legal help wherever they are in life. Contact us for more information.

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