Attracting and Retaining Employees

3 Reasons Legal Insurance Is a Voluntary Benefit Your Company Needs

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Voluntary benefits continue to grow in importance as a way companies can attract top talent. One survey found that employees don't necessarily expect employers to cover all the costs of employee benefits; they just want their employers to serve as the access point to a wide variety of benefits that can help them in all areas of their lives.

Legal insurance is one benefit that may be less familiar to employees than more traditional voluntary benefits like dental insurance, but it provides numerous advantages. Legal insurance plans help employees address their legal issues by connecting them with local attorneys and providing them access to online resources and DIY Docs®.

Offering legal insurance also benefits a company in three major ways:

1. It boosts your employees' satisfaction.

Offering employees voluntary benefits like legal insurance can be a valuable, cost-efficient way to boost employee loyalty and retention. A recent study shows that 83 percent of employees say the benefits package offering is extremely or very important to their job satisfaction, and 74 percent say it's extremely or very important to their employer loyalty.

2. It differentiates you from other employers.

Unique benefits packages can attract top candidates, an especially timely advantage considering recent indicators of a nationwide shortage of laborers, from financial industries to construction and retail. A potential employee deciding to work for one employer versus another may view the benefits package as the deciding factor.

3. It improves employee productivity.

Employees who have a tangible, immediate way to deal with an unpleasant legal situation – such as traffic tickets or estate planning – can better minimize the effects on their professional lives. They'll be able to focus on their work and maintain productivity if they have an affordable, convenient avenue to retain experienced legal help. Giving employees a practical method to deal with legal issues promotes overall wellness. In fact, 90% of ARAG legal insurance plan members feel that having legal insurance reduces their stress.1

Interested in learning more about how legal insurance can benefit your clients and their employees? Contact us for more information.

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