Group Legal Plans
plans from LegalShield in North Carolina. These low cost plans are an extraordinary value.
Studies show these plans not only benefit the employees, but the employer too.
- Decreases employee absenteeism
- Reduces safety risks
- Reduces lawsuit risks
- Reduces health insurance costs
- Helps recruit and retain quality employees
- Creates a desireable atmosphere at work
- Increases employee productivity
According to Voluntary Benefits Magazine.com more than 25% of fortune 500 companies now offer some kind of legal
plan to their employees and identity theft remains the number one consumer complaint(12 years running according to the
Federal Trade Commission). It only makes sense that these plans keep employees at work and focused on their tasks.
Legal related issues sometimes keep employees absent from jobs to resolve their problems. This can cost
employers a lot of money in overtime, absenteeism, higher insurance, higher compensation premiums and
claims, lost productivity, and administrative costs. According to the LSK Associates Study employees with legal issues:
- are absent five times more than average
- use their medical benefits four times more than average
- use their sick leave twice as often
- experience a substantial reduction in their productivity
There are many reasons to offer this legal service plan to your employees.
- Americans are more likely to end up in court than the hospital, yet most get health insurance and not legal insurance
- Employers lose over $600 per employee yearly directly because of legal issues( Harris Interactive)
- Absenteeism accounts for 61% of an emoloyee's total lost productivity and health cost( Cornell University study)
- Employee absenteeism cost employers 36% of payroll according to Mercer University
- Stress cost businesses $9500 per employee( U.S. Bureau of Labor Statistics)
- Employees can take up to 600 hours to recover from identity theft(Federal Trade Commission)
- 49% of employees lost productivity at a rate of 1 hour or more per day due to stress according to Business Legal Resources
This shows how cost-effective it is to utilize these plans as part of a group benefits package. In addition, these plans
can be offered as voluntary benefits.
For more information on group plans please contact us at 919-302-8849.