Legal Insurance Plan
Compensation isn’t the only factor that helps to attract and retain top talent. These days, you need an attractive benefits package and that goes beyond health insurance. If you’re wondering whether it’s worth it to add legal insurance to your benefits package, keep reading to find out what you need to know.
Employees Today Want More Benefits
Benefits packages have changed a lot over the years. It’s no longer enough to attract top talent with compensation, health insurance, retirement plans, and vacation time. More and more people are looking for benefits packages that reflect our ways of life today, or to be more precise, plans that help them maintain and improve their lifestyles. In fact, 64% of millennials say that benefits are extremely or very important to employer loyalty. For a generation that’s known for job changes, that’s a truly impressive figure!
At the same time, employers want to add benefits that will not only attract top talent but help retain them and keep them satisfied. The right benefits will not only keep employees around, they’ll also help to keep them engaged and productive.
How Legal Insurance Fits In
Benefits are an excellent way to prevent absenteeism and reduce stress for employees. That’s why many organizations are adding prepaid legal plans, also known as legal insurance, to their benefits package. We all know life happens quickly and major life changes undoubtedly bring added stress to the lives of employees. A legal insurance plan can help employees navigate major life challenges such as divorce, child custody matters, estate planning, and more with confidence. Let’s take a closer look at some of the main benefits of adding such a plan to your organization’s benefits package:
- Higher engagement. It’s hard to perform your best work when you’re worried about private matters at home. With legal insurance, employees can rest easy knowing they have reliable, professional legal help on their side.
- Reduced costs. There’s no denying that unexpected legal fees can make a dent in the budget. This especially true as most people aren’t saving up for unanticipated legal costs. Legal insurance plans allow employees to work with network attorneys on covered matters without having to pay an extra penny. Reduced rates are often provided for services outside the plan as well.
- Less time away from work. With legal insurance plans, there’s no need to spending hours researching attorneys, arranging consultations, and asking for recommendations. Employees have a network of licensed attorneys to choose from.
So, is adding a legal insurance plan to your benefits package a good idea? If you’re looking for happier, more engaged employees, the answer is a resounding yes! To learn more about services we provide through legal plans, reach out to Akman & Associates, LLC.