While needs vary by age and life stage, U.S. employees share a common concern about the potential impact that personal legal woes can have on their lives and careers
(PRWEB) October 5, 2008
Family, financial, home and automobile-related legal woes are having a negative impact on America's multi-generational workforce, according to ARAG, a global leader of legal insurance. "While needs vary by age and life stage, U.S. employees share a common concern about the potential impact that personal legal woes can have on their lives and careers," said Cam Sutton, ARAG President and Chief Executive officer.
Sutton stated that legal woes such as the mortgage crisis, consumer fraud, elder care and higher costs of daily living have become silent killers of workplace effectiveness – contributing to higher levels of stress, absenteeism and presenteeism, and to lower job performance and productivity.
An ARAG-commissioned study showed that seven out of 10 full-time workers were impacted by legal woes during a 12-month period. The most commonly reported events included home purchase or repair, credit problems, caring for an aging family member and vehicle purchase or repair.
The ARAG study reported that:
•70% of employees had dealt with one or more legal woes.
•40% of employees experienced a negative impact on their work lives.
•Employees spent, on average, 57 hours while at work, dealing with legal woes.
•One out of three took time off of work (13 day average) to address legal woes.
•Seven out of 10 said having a legal insurance plan would be a useful resource in preventing or resolving legal woes.
A white paper entitled "Measuring the Effects of Employee Financial & Legal Woes" provides additional data and is available at the company’s Web site.
ARAG (http://www.ARAGgroup.com), a global leader of legal insurance, has an international premium base of more than $1.75 billion and protects 15 million individuals and their families – worldwide. ARAG offers comprehensive legal plans that provide a smart and trusted path for resolving legal issues. This enables people to protect their families, finances and futures.
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.
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