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Voluntary Benefits and Why Your Organization Can Benefit from Them Voluntary benefits are truly “voluntary” benefit programs that enhance the bundle of services provided by an employer that the employee can choose to utilize or not utilize. Voluntary benefits provide a way for an employer to offer more to their employees without incurring a lot of additional benefit costs. Having voluntary benefit options for your employees can help to build loyalty and thus retention, and also increase productivity in the workplace.
Consider the following:
FACT: A staggering 92% of people are losing sleep over their finances. (ComPsych)
FACT: 80% of adults agree they would benefit from advice and answers to everyday financial questions from a professional. (Harris Interactive Literacy Survey)
- Employees dealing with personal financial issues waste anywhere from 12 to 20 hours per week on the issue*
- Employees who own their own homes are less likely to call in sick and are retained longer. **
- 47 percent of employees surveyed said they were dealing with a health or financial problem that impacted their ability to complete their jobs.
- Another 32 percent admit that they’ve lost at least 20 percent of work productivity. ***
