If you won the lottery, would you still work? Although many people might fantasize about tropical beaches and living a luxurious life of leisure, a recent survey from Yankelovich found that most American workers - 63 percent - "live to work," including 18 percent who said they love their job so much they would continue working even if they won the lottery.
Of course, not everyone feels that way. The survey also showed 36 percent "work to live," including people who say they work primarily for the paycheck or benefits, or feel stuck because of a bad economy.
Look back to move forward
The ability to earn a living is a worker's most important asset and the stress associated with this responsibility can be overwhelming. A year ago, in a similar Yankelovich survey of American workers, people said they would feel economically vulnerable if they were out of work due to illness or injury. Sixty-two percent said their top worry would be their inability to pay the mortgage or household bills during a lengthy absence.
With nearly eight in 10 American workers living paycheck to paycheck, this should come as no surprise. Especially when you consider that personal illness and disability are leading reasons for personal bankruptcies in the United States.
Make it easy, educate employees
Employers that don't already offer disability insurance should consider adding this important protection to their benefits package, and they should make it as easy as possible for employees to enroll. When Yankelovich studied awareness of and attitudes toward disability insurance in 2009, more people said they would rely on their employer for advice about it than any other source - more than a financial professional, their spouse or the Internet. What's more, they said they appreciated the convenience and cost effectiveness of getting the insurance through an employer.
Employers typically have several options, including short-term and long-term coverage. They can pay all or part of the premium, or they can opt for a voluntary program in which employees pay the entire premium themselves. No matter how the employer structures the coverage, employees benefit from discounted premiums that are available through employer-sponsored plans and the convenience of a payroll deduction to pay premium costs.