Chapter 4
A Benefit Valued Across All Generations
In this competitive economic environment, it can be difficult to retain employees, especially younger employees.
Providing access to affordable legal help for common issues such as traffic tickets, identity theft and wills and estate planning, is a benefit that all of your employees can use.
Although it’s commonly thought that older employees are most interested in legal plans, the study uncovered that younger adults are more interested in purchasing a legal plan from their employer than their older counterparts.
Younger adults are also more likely to already be a legal plan member. According to the survey, of adults that are enrolled in a legal plan through work, 68% are ages 21-34, 34% of those enrolled are ages 35-49, and 28% are ages 50 and up.
The Harris Poll survey also found a need for legal services among all employed adults. Many said they did not have two of the most common legal documents everyone should have – a will and a power of attorney.
Only 42% had a will, 24% had a medical power of attorney, 20% had a financial power of attorney. Over half (52%) had neither document.
No matter what your employees’ ages are, they have legal needs. Here are some of the most common uses of the legal plan by generation:
QUIZ
If your identity was stolen, do you know who to turn to?
Yes
No
No?
Although banks can assist with credit card fraud assistance, when your identity is stolen you need personalized assistance. A legal plan provides access to fraud specialists who manage every step in the process of restoring your identity.
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Great!
Resolving identity theft can take months, sometimes years. Having access to fraud specialists through a legal plan takes the work away from you and puts it in the hands of experts for however long it takes.
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If I had to choose between two companies, I would choose the one that offered me more benefits. I feel like it’s something that affects you long term. Your salary is just money. That’s gone within a year, but things like [benefits] are something I really pay attention to when I decide who I am going to work for.
Voluntary benefits, like a group legal plan, can be a valuable employee retention tool for employees of all ages. The MetLife EBTS shows that at a company where employees are offered no benefits, only 46% of employees would recommend it as great place to work. But this number climbs to 53% at companies where employees are offered between one and five benefits and jumps to 66% at companies where employees are offered 11 or more benefits.5
[5] MetLife’s 13th Annual U.S. Employee Benefit Trends Study, 2015
Download White Paper
Improving Employee Wellness through Legal Benefits
In this white paper we will look at a significant cause of stress and financial hardship for your employees – legal issues. Research conducted online by Harris Poll on behalf of Hyatt Legal Plans, found that many Americans are not prepared to handle legal issues and would be interested in legal plans as a way to help them save money and reduce their stress about financial issues.
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