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For
Immediate Release
For details, contact Renee Mula
reneemula@esmassn.org
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Voluntary
benefits remain a low-cost
service worth offering to employees
Oak
Brook, IL (October, 2003) — In today’s
economy, companies are turning to voluntary benefits as a
low-cost employee service that boosts morale without
deflating the bottom line. In the coming year, companies
plan to maintain or improve upon their employees’
voluntary benefits options, which range from life
insurance to pet insurance to home service warranties.
According to “Employee Services Trends,” a
recent survey conducted by Employee Services Management
(ESM) Association, 52 percent of companies offer
voluntary benefits to employees. Of that group, 37
percent say employees’ usage of the company’s
voluntary benefits has increased in the last two years,
while 56 percent say it has remained the same. Here are
the top five voluntary benefits offered:
| Life Insurance |
91 percent |
| Dental Benefits |
84 percent |
| Long-Term Care
Insurance |
74 percent |
| Vision Coverage |
69 percent |
| Group Legal
Insurance |
39 percent |
The survey results show that 36 percent of
companies offering voluntary benefits plan to improve
upon these services in the next year. Here are the top
five convenience services they plan to add:
| Errand Services |
16 percent |
| Group Legal
Insurance |
16 percent |
| Pet Insurance |
13 percent |
| Long-Term Care
Insurance |
11 percent |
| Serious Illness
Insurance |
8 percent |
Ninety-six percent of companies not
planning to improve upon their voluntary benefits say
they will retain their current offerings in the next
year.
The online survey was developed by ESM Association, an
employee services organization that serves as an
information and product/service network for over 2,000
members nationwide. The survey includes responses from
341 ESM Association Members responsible for implementing
and maintaining a diverse range of employee services. The
online survey is one of ESM Association’s member
services. Members receive the survey results at no cost
and use this information to benchmark with peers and
justify new programs to management.
For more information about ESM Association or voluntary
benefits, visit http://www.esmassn.org or contact ESM
Association at esmahq@esmassn.org or (630) 368-1280.
# # #
About ESM Association:
ESM Association is a national nonprofit association that
has helped human resource managers do their jobs better
for over 60 years. The association exists to enhance the
HR profession through education, peer networking and
suppliers offering products and services. ESM Association
is the premier expert on employee services programs,
which are necessary to maintain a productive workforce.
For more information, visit http://www.esmassn.org.
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