How are you attracting and retaining quality employees?
Quality staff can be hard to come by and to recruit and retain talented employees is getting harder with the costs of doing so inceasing.
One way of retaining your employees is by adding increased value to their employment as an employee entitlement, such as legal protection as part of an employee benefit scheme.
Why offer a Legal Benefit Plan to your employees
There are immense benefits for employers in ensuring employees have appropriate access to legal support. Most employers do not realise the detrimental impact employee legal and financial problems have on workplace productivity. Employees are three times more likely to be involved in a legal life event than be admitted to hospital in any given year and take more time off work for legal matters than they do for health related ones.
In today`s world almost all employees experience life events that have potential legal ramifications, leading to time off work resulting in direct financial cost and impact on a business's overall performance and its profitability. Statistics show that 7 out of 10 employees experience at least one legal life event a year.
The most common of these being the following:
- Personal property issues, such as the sale or purchase of a car or boat, renting an apartment or refinancing a home, hiring a contractor for work on a residence.
- Personal financial matters such as credit problems, debt collection, estate planning and tax issues and at the very worst bankruptcy.
- Family related events such as domestic disputes, seperation or divorce resulting in a need for legal counseling.
- Death of a family member and the administration of an estate, or the long term care of an elderly loved one and their placement in a nursing home.
- Traffic violations and infrindgements.
- The creation of a Will and financial planning needs.
Whilst these are common problems and your employees do have them. The real problem often is that they do not know where to find the best legal advice or support - except to take a stab in the yellow pages or search the internet for a local referral service. A legal plan helps solve these problems.
One of the keys to being an employer of choice is to demonstrate employee worth by not just the money you pay them but how you treat and reward them in non-monetary ways. It is this that will set your business apart from others and ensure you stand a better chance of winning in the 'war for talent'.
Legal Benefits make sense....
It's a known fact... Employees do not perform well when confronted with legal problems. If your receptionist is worrying about her son's arrest... your customer service representative is in a dispute with his landlord... or your top salesman is bickering with a car repair shop... they are not thinking about work.
Most employees are convinced they can not afford a lawyer and often try to unsuccessfully handle complex problems on their own. Others are intimidated by the law or are simply unsure of how to find the right lawyer for their matter.
Whatever the reason, foregoing legal help leads to damages far beyond the scope of the original problem. An employee can suffer anxiety, frustration, and financial loss. At work, this often leads to distractions, loss of productivity and reduced attendance, all of which have a direct impact on a business's bottom line.
Seldom do employees ask for a legal benefit. But when you ask if an employee has a specific problem or need that requires legal advice to resolve, the answer in most cases is “Yes, I have that kind of problem.” Very few employees are aware that a legal plan provides them the support they need to address these problems. As an Employer you can now offer them the Employee legal cover they need and the peace of mind they deserve.
Pre-Paid Legal Services offers an incredibly powerful employee benefit in the form of the Employee/Contractor Legal Plan which is affordable and can be funded either by you as the employer or through direct payment or salary sacrifice by the employee. So enhance employee wellness by offering them an Employee/Contractor legal plan. It makes good sense.