NEW GUIDE FROM HYATT LEGAL PLANS HIGHLIGHTS THE BUSINESS CONSEQUENCES OF EMPLOYEES’ PERSONAL LEGAL MATTERS AND PROVIDES TIPS FOR A BENEFITS SOLUTION
NEW YORK – May 5, 2011 – Hyatt Legal Plans, a MetLife company, today announced the availability of a new resource designed to help employers understand the impact that employees’ personal legal matters have on the workplace. Quantifying the Workplace Impact of Employees’ Personal Legal Matters: Five Issues Addressed With Group Legal Plans reveals how employees’ routine legal matters can affect workplace productivity and illustrates how group legal plans as a voluntary benefit may help mitigate the impact, while contributing towards achieving objectives of employee retention and cost control. The guide, which is the result of surveying working Americans who have had at least one legal issue (e.g. foreclosure, adoption, bankruptcy, divorce) in the past five years, is available for download at www.legalplans.com/employee-legal-study.
“Many Americans face a new or ongoing legal issue each year, and will spend, on average, three hours a week at work dealing with their situation. This can have a significant impact on workplace productivity,” said Bill Brooks, CEO of Hyatt Legal Plans. “At a time when employers are increasingly interested in retaining top talent, increasing employee productivity and controlling costs, group legal plans can be a cost-effective way to help employees manage through their legal issues.”
Personal Lives Impacting Business
The guide outlines five ways employers can be impacted by their employee’s personal legal problems, including decreased productivity (distractions, duration of issues, and missed work days on the part of employees), as well as the emotional and physical toll. For example: nearly half (47%) of female employees and more than a third of male employees (37%) surveyed reported having their physical or emotional health negatively impacted when dealing with their personal legal issue, which can lead to an erosion in work performance.
The study highlighted in the guide found that just 30% of employees who used a group legal plan reported taking vacation days toward resolving their legal issue, versus 50% who do not have a legal plan. In addition, employees who used a group legal plan resolved their issue in 4.4 weeks on average compared to 6.1 weeks for those who did not. Loyalty towards their employers is higher among those employees with access to group legal plans.
“MetLife research has shown that having a choice of voluntary benefits, like group legal plans, is a strong driver of feelings of loyalty toward their employer. The coverage is both highly affordable and convenient, can help reduce stress and absenteeism, and ensure that employees who face a legal issue have the confidence they need to be more productive at work,” adds Brooks.
About Hyatt Legal Plans
Hyatt Legal Plans, a MetLife subsidiary, is the largest provider of group legal plans in the country, serving more than two million group legal plan members and dependents through a nationwide network of 5,300 law firms. For more information on Hyatt Legal Plans, please visit www.legalplans.com. Group legal plans provided by Hyatt Legal Plans, Inc., Cleveland, OH. In certain states, plans are provided through insurance coverage underwritten by Metropolitan Property and Casualty Insurance Company and Affiliates, Warwick, RI.
MetLife is a subsidiary of MetLife, Inc. (NYSE: MET), a leading global provider of insurance, annuities and employee benefit programs, serving 90 million customers in over 60 countries. Through its subsidiaries and affiliates, MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific, Europe and the Middle East. For more information, visit www.metlife.com.