Legal, ID theft benefits can help employees stay on track at work

More employers are now considering workplace benefits for legal services and identity protection not only to attract and retain employees, but also to boost productivity by providing workers “a better peace of mind,” according to the 2019 LegalShield Workplace Study.

Indeed, 61 percent of the 750 U.S. employees polled by Echo Research on behalf of LegalShield have faced a legal event in the last two years. As a result, more than a few (39 percent) made phone calls during the workday, 34 percent say they were distracted at work and 30 percent say they took time off.

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Identity theft, including those caused by data breaches, is also having an impact on workplace activities. For those who have suffered through an incident, 59 percent say they were distracted at work, 47 percent made phone calls during the workday and 44 percent took time off of work.

Of all of the respondents, a third (35 percent) are concerned about identity theft occurring with greater frequency, and 89 percent feel that owning an identity theft product would provide “peace of mind.”

“Employee respondents see value in legal services and identity protection plans,” the authors write. “Nearly half would like legal services offered as a benefit and 40 percent believe it would have a key impact on their overall job satisfaction. More than two-thirds believe identity theft protection increases their financial well-being and more than half would like to see it added to their benefit package.”

Employers are starting to get it, according to the study’s second survey of 300 U.S. employers at companies with at least 100 employees.

Although only 23 percent of employers currently offer legal services, as many as 74 percent would consider offering such a plan. Regarding identity theft protection, 26 percent of employers now offer the benefit, but 70 percent would consider adding. More than 60 percent of respondents said they would consider offering both benefits.

“Employers realize that improving the financial wellness of their employees, their most valuable asset, isn’t only the right thing to do, but also makes good business sense, and they’re open to making those changes,” the authors write.

Important features in a legal services plan, according to the employer survey: direct access to a qualified law firm and a comprehensive mobile app. For both legal service plans and identity theft protection, employers would look for benefits that provide restoration services.

Read more: 

• Employers’ interest in identity theft protection on the rise
• Employee legal issues can spiral out of control, affecting employers
• The weight of financial wellness is heavier than employers realize