Benefits, as business owners already know, play a key role in employee satisfaction, with one recent survey showing that half of employees who keep working at a company do so because of benefits. So, conversely, small business owners can lose their best employees when they don’t offer satisfactory benefits.
Many small business owners would respond to that last statement by saying that, although they’d like to offer quality benefits, they simply can’t afford them. And, while it’s true that large companies typically have more resources to pay for employee benefits, voluntary benefits can provide viable options to small business owners, especially since “the same employees who would like better benefits are also willing to pay for them.” So, offering voluntary benefit plans to your employees at group rates – which are priced lower than an individual can get on his or her own – has significant value.
To sum up, voluntary workplace benefits:
- Expand benefit choices for employees
- Come at a lower cost than if purchased by an individual
- Can help small businesses to retain valued employees
Because of their worth, voluntary benefits, says BenefitsPro.com, have gone mainstream – which means that larger numbers of businesses are offering them (which means it’s likely that your competitors are offering something your star employees would like to have!).
These benefits are popular because employees can choose what they want, customizing their own packages, making them a “key tool in an employer’s recruitment and retention strategies.” Companies are also using benefits portals to provide easier access to benefits “to help employees navigate as well as understand benefits offerings.”
Alleviating the Stress of Legal Issues
A recent Canadian study revealed some universal truths: that legal challenges frequently cause stress and even physical health problems for involved parties. Nearly 50% of Canadian adults, this article shares, will experience a legal challenge they consider “serious or difficult to resolve.” And, nearly one in five of these people experience stress and/or emotional problems directly because of the legal issue – while 39.1% of adults aged 18 to 35 report physical health problems because of legal issues. When looking at adults aged 55 to 65, 61.5% of them experience physical problems as part of the legal process!
This kind of stress is detrimental to the people experiencing it, as well as to the workplace in general, and “can work against attaining business goals,” says an article by the Houston Chronicle. You might notice the stressed-out employee become “argumentative or easily agitated” and “make more mistakes and demonstrate a general decline in performance. Frequent absenteeism or being late to work may also be stress indicators. Your business can suffer dramatically from a resulting lack of customer service, uncompleted projects, orders not being placed or a noticeable decline in sales.”
Fight Back with Legal Benefit Plans
This voluntary benefits plan can help your employees defend their families, protect their identity and otherwise have peace of mind when legal issues arise. With our Family Defender™ program, your employees can have access to local attorneys for situations such as a divorce, or child support and/or custody. This plan also provides legal benefits when traffic violations exist, lawsuits are filed, debts are accrued and more.
With Identity Defender™, your employees will have access to an affordable Fraud Resolution Specialist™ that will provide emergency response activities – seven different ways! – within 24 hours. This is crucial for your employees to monitor and protect their identifies, as well as restore good credit. And, if your company uses commercial drivers, ask about our CDL Defender™ program.
Discover more about how our employee legal benefits plan can provide employees with benefits they’ll truly appreciate and value. You can also download our group legal benefits guide from that page.