Voluntary Benefits: Low Effort, High Return

Voluntary benefits are generally low-cost and require minimal administrative effort, but they can result in a significant return on investment when it comes to attracting and retaining top talent. They’re quickly gaining traction — giving employees financial protection at times they need it most. And they may be a key factor in keeping your employees satisfied, engaged and on track for success.

Your workforce is looking to you for a wide range of benefit options they can customize to meet their personal needs. And they’re willing to pay for what they want. 60% of employees surveyed in a MetLife study said they’re willing to bear more of the cost to have benefits that meet their needs. The MetLife research is supported by other findings from voluntary benefits companies. For example, the 2014 Aflac WorkForces Report shows:

  • 80% of employees consider voluntary insurance to be part of a comprehensive benefits program.
  • 80% believe their overall benefits package influences their employee engagement.
  • 63% say benefits influence their productivity.

Fortunately, voluntary benefits are low-cost and require minimal administrative effort, but they can result in a significant return on investment in attracting, keeping and engaging your workforce. Enhancing your benefit offerings could be as simple as adding voluntary benefits to your package.

To speak with an ADP Representative about voluntary benefits programs for your organization please call 1-800-447-3237.

Keywords:
Benefits Administration
,
HR Management
,
Health Care Reform
Roles:
Research for Human Resources Professionals