Human resource departments are always looking for ways to keep employees satisfied and loyal to the company. It only makes sense because turnover costs can be frighteningly high, and whatever encourages retention is a good thing. A big problem is the cost of employee benefits and these can do some serious damage to the corporate bottom line. One benefit that is deeply appreciated and doesn’t cost a king’s ransom is
prepaid legal services.
Litigation has become an unfortunate fact of life and it is not easy to dodge. The American Bar Association estimates that more than one third of all employees will have need of a lawyer for one reason or another. Certain fundamental documents such as wills and estate plans can have different requirements depending on the state of residence, and using online do-it-yourself services can be incredibly risky. Prepaid legal services permit an employee to have access to credentialed attorneys who are specialists in areas such as probate, personal property, and issues of personal debt.
For a set fee which can be paid monthly or through payroll deductions, the employees can be relieved of the anxiety of searching for qualified legal counsel. They also discover that what is charged by these attorneys is more than reasonable, thanks in no small part to the benefit’s coverage. Prepaid legal services reduce distractions caused by a number of court related issues, permitting an employee to better concentrate on the work at hand.
Best of all, employees really love the convenience of this benefit. Enrollment in such plans is well over 1.5 million employees and growing. People appreciate the ability to be in touch with legal counsel that is knowledgeable and ethical. The amount of stress brought on by legal problems is reduced dramatically in companies that have this benefit, and the result has been employees who are more productive and less preoccupied with outside matters.
The cost is not something an HR director has to be overly concerned about. This is not an exorbitantly expensive benefit at all, and there are number of ways of paying for the coverage. A prepaid legal services plan is generally not more than $200 per member per year, and that figure fluctuates depending on the type of services are being provided. Regardless of what such services may be, having legal assistance when it is needed is something deeply appreciated by employees. This is certainly something that is invaluable when it comes to retention of good people.
The positive results of such a benefit are almost immediate and a plan can easily be created. Countrywide Pre-Paid Legal Services, Inc. is sensitive to the concerns an HR department may have about the costs. Countrywide offers group legal plans that have no administrative fees and no claim forms that have to be completed.
The plan year can be determined to fit the fiscal year of the company or off cycle and Countrywide prides itself on a quick turnaround. Depending on what the company wants, the benefit can be paid fully by the employees through voluntary payroll deductions, have the cost shared between the employee and the employer, or have the plan fully paid by the employer alone. It’s whatever the company feels is necessary but it’s flexible on how it can be implemented in a company’s benefit package.