Attracting and Retaining Employees

Why a Diverse Workforce Needs Diverse Benefits

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No two employees are exactly alike: in fact, the American workforce continues to become more diverse. And because each employee may be coming from a different background, culture, generation, country, etc. that makes being able to provide a more personalized benefits package very attractive to employees.

A 2016 survey by Willis Towers Watson found that 92% of U.S. employers believe voluntary benefits will be an important way to add value to their benefits package, an increase from 73% of employers in 2015. 

More and more employers are realizing how appealing the emerging voluntary benefits such as legal insurance, financial counseling/tuition assistance programs and identity theft coverage are to employees.

Not to mention they are appealing to employees as well because they come at a minimal cost to the company.

One voluntary benefit that works for all employees: Legal insurance

While some voluntary benefits (for example, student loan support or pet insurance) will be more useful to certain age groups or employees in certain life stages, there are a few that can be useful to all employees. Legal insurance is a voluntary benefit that supports every employee, no matter their age, relationship status or background. The study "How Legal and Financial Issues Impact Employee Wellness" found that three out of four Americans experience at least one legal event a year.1 Yet three out of four people surveyed in this same study said they don't have a plan to cover legal expenses when they occur.

And attorneys can certainly be expensive. An attorney in the United States with 11 to 15 years of experience has an average hourly rate of $343.2 When you consider that the average number of attorney hours for something like buying or selling a house is six hours, the costs add up fast: that's $2,082! But with ARAG legal insurance, attorney fees are 100% paid in full for most covered matters when a plan member works with an ARAG Network Attorney.

A legal insurance plan will help your diverse workforce handle their legal issues faster and with less stress, making them more productive and happier at work. Contact us for more information.

Resources

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