Unum's new Buyers Study finds consumer interest in voluntary benefits through the workplace has continued to grow, with a 16 percent increase in voluntary sales in 2010 alone.

Findings show voluntary benefits strongly influence employee satisfaction, with an 82 percent employee satisfaction rate when voluntary benefits are offered at work.

What's more, Unum reports, more employers are harnessing the power of a sound benefits strategy that combines traditional and voluntary benefits, as companies struggle with job security.

Employees view voluntary benefits as a boon to their workplace behavior; sixty-seven percent of employee respondents say employer-provided voluntary benefits would increase their productivity.

The most common combinations of voluntary benefits, according to Unum data, are:

  • Accident and critical illness
  • Accident and short-term disability
  • Accident, critical illness and life insurance

Unum reports that voluntary benefits appeal to employees of all ages, but especially to those age 30 to 49.

The top three industries offering voluntary benefits are:

Health services and doctors

Retail/wholesale trade

Manufacturing

Unum's Buyers Survey 2011 was released this month.

 

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