While the pandemic may be winding down, many employees will continue to face the long-term impacts and are consequently unsure about how to weather the financial and social pressures of the new normal.
To help prepare for the unexpected, many employees are beginning to turn to employer-offered benefits as a lifeline for the road ahead. One, in particular, may surprise you: legal plans.
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According to MetLife’s new survey on legal services, 52% of employees have considered seeking legal counsel since the pandemic began and nearly one-third expect to spend upwards of $5,000 on these services. Unfortunately, for many employees, these costly and time-intensive processes can often be debilitating, leading to lasting impacts on their mental and financial wellness. Thankfully, equipped with a legal plan, employees can breathe a sigh of relief thanks to the knowledge that they will be supported through this process.
The following are three key benefits of legal plans that employers should consider in order to help their employees navigate whatever challenges may lie ahead.
Supports all ages and lifestyles:
This past year has impacted everyone differently, which undoubtedly plays a role in why an employee may seek legal assistance. For instance, while 33% of men have sought counsel for financial issues, 32% of women have sought counsel for caregiving responsibilities. What’s more, millennials are more likely to be enrolled in legal services than older generations. Indeed, from adoptive and reproductive assistance to nursing home agreements, legal plans can cover a range of different areas impacted by the pandemic.
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Assists in financial matters:
Employees today may be seeking legal counsel for a variety of reasons, but financial issues are the number one driver. In fact, according to the MetLife survey, as many as one in three of employees seeking legal assistance are doing so for personal financial reasons, followed by family matters (26%), personal matters (25%) and real estate matters (25%).
We may be on the road to recovery from the pandemic, but many employees are still navigating the lasting financial issues such as debt collection and even bankruptcy. To assist with this process, legal plans can help employees cover the cost of legal assistance — providing assurances that, whatever happens, they will be protected.
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Tailored to employee preferences:
Employees today seek benefits that are tailored to their needs — and legal services are no exception. For example, even amid a pandemic, employees overwhelmingly prefer to conduct meetings with legal professionals in-person — particularly if the matter is sensitive, according to MetLife’s findings. When considering resources for caregiving challenges, 40% of employees say they would prefer to meet in-person. This was particularly high among women, 48% of whom say they would like to be able to be physically present with their lawyer to discuss legal matters. Thankfully, legal plans offer access to support through a variety of channels — both in-person and remote — that can help support employee health and wellbeing during this difficult time.
As we begin transitioning out of the pandemic, companies need to be willing to acknowledge the lasting pain-points experienced by their employees and act accordingly, including those related to legal matters. Thankfully, through legal plans, employers can remain sensitive to these important issues, creating offerings that are comprehensive, tailored and primed to support their workforce for years to come.
