Simple and Cost-Effective Voluntary Benefits

No Cost to the Company

Identity theft and legal services are the most requested voluntary benefit in North America because they directly solve issues that affect employees’ lives, families, and work performance.

 

Over 60,000 North American companies of all sizes have turned to identity theft and legal benefits to
create a security culture at their company and decrease costs.

 

 

 

Why Should Your Company Offer This Benefit?

  • Employees spend 200—600 hours away from work when victimized by identity theft

  • “The costs of workplace stress are not limited to those who experience the stress.
    The Journal of Occupational and Environmental Medicine reports that health-care
    expenditures are nearly 50% greater for workers who report high levels of stress. 

  • According to the Health Promotion Survey showed that absenteeism rose for employees who were concerned about interpersonal relations, job control, management practices, or safety. Additionally, the Canadian Policy Research Networks has estimated that stress-related absences cost employers about $3.5 billion each year (Duxbury and Higgins 2001).

  • “Workers can waste more than 20 hours of company time per month dealing with or thinking about personal finances or legal issues.” – Debt Free America, October 2006

  • Reduce work related injuries and medical costs

  • Over 70% of your employees are dealing with a legal issue right now that is affecting their productivity

  • Number of Fortune 500 companies offering a legal benefit increased 60% last year

  • Enhance your benefits package- Over 40% of all Fortune 500 companies have decided to offer a legal benefit

  • 72% of IDT is not financial but is Drivers license, Social Insurance, Medical, or Criminal

  • Approximately half of your workforce will take time off this year to deal with a legal issue

  • Your employees are TWICE as likely to take time off to go to court than to go to the hospital

  • Usage of this benefit went up 67% last year (59% of men and 54% of women surveyed felt a group legal benefit would influence their choice of employer)

 

Easy Administration, We Do All The Work!

  • We handle paperwork for your payroll department

  • Benefit cost to employees:  legal $4.27 / week; legal and identity theft $6.57 / week (+ taxes)

  • Employees cannot use the plan against your company

Create a Security Culture

A PSI Employee Benefits Specialists will work with you to address identity theft issues that affect you and your business. Your company’s name and brand can take years to build and only minutes to destroy. Regardless of your company’s size, data security is critical. Our agents undergo intensive training to administer an educational program and complete privacy policy to help your business reduce the risk of security breaches.

                                                        While many companies in the US are adding “Identity Theft” to their employee benefit package, Canadian companies continue to evaluate
                                                        and report on statistics. In an article from “Corporate Wellness Magazine”, approximately 48% of a company’s employees will experience a
                                                        business or personal legal-related issue (including Identity Theft) this year and will miss fifty one hours of work in their effort to resolve the
                                                        issue.

 

 Unfortunately, the workplace presents a great opportunity for identity thieves to gain access (internally or externally) to the personal data that they need to wreak havoc on your personal finances. This explains why identity theft is Canada’s fastest growing crime. 

 

The Canadian Anti-Fraud Call Centre (“Phonebusters”) reports: To reduce identity theft, companies and employees are being proactive through performing fraud risk assessments, fraud prevention, identification and reaction and response training.  “ 

 

“Periodic training emphasizes the importance you place on meaningful data security practices. A well-trained workforce is the best defense against identity theft and data breaches. Create a ‘culture of security’ by implementing a regular schedule of employee training and if employees don’t attend, consider blocking their access to the network.”

 

Click here to download the White Paper

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