Voluntary benefits are becoming a mainstay in the employee benefits package. I don't think anyone — brokers, employers or even employees — doubt that today. Voluntary benefits are popular because even though employees are paying for these benefits, they can get what they want by customizing their benefits package for their own particular needs.
Traditional voluntary benefits include products that complement company-sponsored core benefits and round out a benefit portfolio that suits employees' individual needs. With non-traditional voluntary benefits, employees can even further personalize their benefits package, choosing optional benefits that resonate the most with their needs and lifestyles.
That's an important consideration today. With a thriving economy and positive job market, attracting and retaining employees is a bigger challenge for employers than it has been in years. With a diverse workforce and employees' desire to "want it their way," companies are recognizing the role that both traditional and non-traditional voluntary benefits can play in distinguishing their employee benefits package.
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