When Danger Strikes: Disability Insurance To The Rescue

Up your game with value-added services

Workload issues, communication breakdowns, lack of productivity – all can sometimes seem par for the course at the workplace. Yet, those issues are downright mundane compared to the challenges facing fishermen, taxi drivers and maintenance workers, whose jobs are ranked among the most dangerous in America.¹

Some occupations on the list are not surprising. Electrical power-line installers, truck drivers and pilots, for example, are among those who face white-knuckle workplace challenges. But anyone who hasn’t watched reality television programs such as “Ax Men” or “American Loggers” might be surprised to learn that chopping down trees is the most hazardous job in the United States.

While most lines of business are not as fraught with peril as those on the most-dangerous list, employee safety should be a top concern at every company. For example, according to the Centers for Disease Control and Prevention, office workers are more than twice as likely as non-office workers to suffer disabling injuries stemming from falls. Common causes include slipping on wet floors, tripping over open drawers, and bending or reaching for something from an unstable chair.²

The bottom line? Ensuring your workplace is safe for employees is the right thing to do for workers, and it makes good sense for your company, too. After all, businesses spend $170 billion per year on costs associated with occupational illnesses and injuries.³

Danger Also Lurks at Home

Business leaders are naturally concerned about the effect on-the-job injuries have on employees’ well-being, as well as on their companies’ finances and productivity. But off-the-job safety issues should be on top of mind, too, considering about one-third of all injuries – falls, burns or worse – occur at home.⁴

May is Disability Insurance Awareness Month, making it the perfect time to communicate with employees about the financial consequences of being disabled, whether it is due to an accident or to a serious illness. After all, the monthly bills will continue to roll in even if a breadwinner is too sick or hurt to go to work.

One way employers can increase workers’ peace of mind and generate goodwill is by providing access to disability insurance. That is because when an employee suffers a disabling injury or illness, the initial focus is naturally on the journey to healing. Next comes a concern about finances, with workers asking themselves, “How soon can I return to work – and how will I pay my bills if I’m out of work for an extended period?”

If disabled, employees might not lose only the ability to earn a living, but also savings and retirement funds. Worse yet, they might even face losing their home. By offering voluntary short-term disability insurance, employers can help offer them the peace of mind that comes from knowing benefits can be used to help pay the mortgage or rent, as well as gas, groceries and education expenses – in short, any bill threatening their financial security. 

Taking the Next Step: Value-Added Services

As a human resources expert, you know the competition for top employees is intense. There are many ways to attract talent – salaries, bonuses and opportunities for job growth are chief among them. But strong benefits are a huge draw, too. One key way to attract and retain superior workers is by making sure benefit offerings are plentiful, competitive and affordable. After all, the economy may be rising, but health care costs, including deductibles, copayments, premiums and out-of-pocket expenses, continue to outpace wages and inflation.

According to the 2017 Aflac WorkForces Report, strong benefits – including disability insurance – play a key role in the hiring and retention of employees. In fact, 39 percent of employees surveyed said improving their benefits package is one thing their employer could do to keep them in their jobs. The answer was second only to “increase my salary.” What’s more, 58 percent of employees would be at least somewhat likely to accept a job offer with slightly lower compensation but better benefits.⁵

In addition to strengthening their benefits packages, many companies are upping their games with value-added services that work hand in hand with voluntary insurance options. These services go a long way toward burnishing a company’s image as a caring, generous employer that has the best interest of its employees in mind. Examples of value-added services include:
 

As the competition for top employees intensifies, wise employers are looking for ways to increase their desirability among workers. Disability insurance and value-added services are a strong combination that can be critical to establishing and maintaining a productive, engaged workforce. 
 
There is yet another reason to tout group disability insurance during Disability Insurance Awareness Month: the growing focus on corporate social responsibility. Companies today are increasingly judged by their impact on the environment, on the communities in which they do business, on their civic and social contributions and, last but never least, on the way they treat the employees who depend upon them for financial security.
 
In fact, 87 percent of consumers and investment professionals at least somewhat agree that responsible companies offer health insurance to their full-time workers, even if they are not legally required to do so, according to the 2017 Aflac CSR Survey.⁶
 
By providing employees with access to group disability insurance and the value-added services that go along with it – in other words, by showing that your organization genuinely cares about its employees during working hours and beyond – you demonstrate the compassion that separates the great companies from the merely good.
 
The safety, peace of mind and care disability insurance helps provide are paramount for your employees not only during Disability Insurance Awareness Month, but year-round – whether your workplace is a forest of trees or a sea of cubicles.
 
Notes
¹ 24/7 Wall Street. “25 most dangerous jobs in America.” Accessed Feb. 11, 2018. https://247wallst.com/special-report/2018/01/02/25-most-dangerous-jobs-in-america/3.
² Albert Einstein College of Medicine. “What are the top injuries in a typical office and how can you avoid them?” Accessed Feb. 11, 2018. https://www.einstein.yu.edu/administration/environmental-health-safety/accident-injury-reduction-campagin/top-injuries.aspx.
³ United States Department of Labor. “Safety and health add value.” Accessed Feb. 11, 2018. https://www.osha.gov/Publications/safety-health-addvalue.html.
⁴ WebMD. “Wound care: Your essential first-aid care guide.” Accessed Feb. 11, 2018. https://www.webmd.com/a-to-z-guides/wound-care-10/preventing-common-home-injuries.
⁵ The 2017 Aflac WorkForces Report. Accessed Feb. 11, 2018. https://www.aflac.com/business/resources/aflac-workforces-report/default.aspx.
⁶ The 2017 Aflac Corporate Social Responsibility Report. Accessed Feb. 16, 2018. https://www.aflac.com/about-aflac/corporate-citizenship.
 
Aflac’s Short Term Disability Insurance Policies: In Idaho, Policy A57600IDR. In Oklahoma, Policies A57600OK and A57600LBOK. In Virginia, Policies A57600VA and A57600LBVA.
 
Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.