Remove Deductions Remove Health Remove Voluntary Benefits
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Voluntary Benefits Improve Employee Satisfaction and Retention

InterWest Insurance Services

As a result, many employers are increasingly turning to voluntary employee benefits, which allow them to provide valued, high-demand benefits to employees at little or no cost to the company. Voluntary benefits have been becoming more popular among employers in recent years as unemployment falls.

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What are voluntary benefits?

WEX Inc.

Voluntary benefits give employees the opportunity to further customize their benefits package to meet their personal needs. And they serve as an excellent cost-effective recruitment and retention tool for employers as they look for ways to improve their benefits offerings. Why are some examples of voluntary benefits?

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Voluntary Benefits Demand Surges as Employees Seek to Defray Costs

InterWest Insurance Services

Sales of voluntary group benefits grew at a record pace in 2023 as more employers expand their offerings and demand continues booming as employees seek out benefits that can defray costs, according to new research. Premiums collected for employer-sponsored voluntary benefits jumped 6.7% Accident insurance rose 4%.

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Making Your Voluntary Benefits Program a Success

InterWest Insurance Services

Both employers and employees have much to gain from a solid voluntary benefits program. For employers, offering a range of voluntary insurance products can help increase employee satisfaction – along with loyalty and morale – and make the business more competitive in attracting and retaining the best talent.

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Dental and Vision Benefits Are Inexpensive, and a Big Hit with Workers

InterWest Insurance Services

Employers nationwide are looking for ways to attract and retain talent and differentiate themselves from competing employers, and many are looking to the two most popular voluntary benefits: employee dental and vision plans. For many years, dental and vision plans were employer-paid. Background. Appeal to workers.

Health 98
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3 in 4 Workers Would Accept Lower-Pay for Better Benefits: Survey

InterWest Insurance Services

The main driver in workers prioritizing benefits is the rapidly rising cost of group health insurance premiums and out-of-pocket costs, according to the study by Voya Financial. 51% said that high health care costs were having a major or significant impact on their ability to save for retirement.

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Legal benefits for employees: Pros and cons of adding legal services

Higginbotham

Employers wishing to provide legal services as an employee benefit typically have two primary options: Standalone Legal Services Benefit: Legal insurance can be provided as a voluntary benefit, with employees covering the cost through payroll deductions.