Employee Satisfaction Drives Voluntary Benefits

Seventy-five percent of employers say that their top reason for offering voluntary benefits is to expand the benefit options for employees, according to a study by Prudential. Voluntary benefits are optional programs that are 100% paid for by employees. Eighty-five percent of employers offer one or more voluntary benefits including life insurance (63%), disability insurance (56%), and dental insurance (52%), critical illness insurance (35%), and long-term care insurance (33%).

Fifty-one percent of workers cited convenience as the driving factor in purchasing voluntary benefits at the workplace. Fifty-two percent feel that voluntary benefits increase the value of their company’s offerings. Employers judge the success of voluntary benefits by employee satisfaction (47%) and the participation rate (34%). For more information, visit www.prudential.com/benefitsmatter to learn more.