Estate Planning: A High-Impact Benefit that Drives Employee Satisfaction and Company Success

Offering estate planning as part of an employee benefits package provides a powerful edge in today’s competitive landscape. Here’s why it matters:

Attracts and Retains Top Talent: 73% of employees are more likely to accept a job that includes estate planning in the benefits package.

Enhances Financial Wellness: 75% consider estate planning essential to their overall financial wellbeing.

Encourages Engagement: 82% would actively opt into an estate planning benefit if offered, making it a highly valued addition to voluntary benefits.

As companies look to improve recruitment, retention, and employee wellness, estate planning stands out as a strategic, impactful benefit that builds loyalty and trust.

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As employers compete to attract and retain top talent, traditional benefits like healthcare and retirement planning are no longer enough to stand out. Today’s workforce is increasingly aware of the value of estate planning as an essential part of financial wellness—and they expect it from their employers. A survey conducted by GoodTrust reveals why estate planning as an employee benefit is not only highly valued but also provides a strategic advantage to companies who prioritize it.

A High-Impact Benefit Employees Value

Incorporating estate planning into benefits packages meets a critical, often overlooked need. The survey shows 77% of employees feel estate planning is as essential as other financial wellness benefits like retirement planning and life insurance. For employees, it’s not just an add-on; it’s a key aspect of financial security. In fact, 75% say estate planning is vital to their overall financial wellbeing, highlighting the direct role it plays in their sense of security and stability.

A Strong Driver of Recruitment and Retention

Offering estate planning as a benefit gives companies a competitive edge. With 73% of employees more likely to take a job if estate planning is included in the benefits, employers can enhance their appeal to top talent, particularly in sectors with competitive recruitment. By meeting this demand, employers differentiate themselves as forward-thinking, comprehensive providers of employee wellbeing—a serious advantage in today’s job market.

Encouraging Action through Accessibility

Estate planning has traditionally been viewed as time-consuming, expensive, and reserved for older generations or high-net-worth individuals. However, 83% of employees would be more likely to complete an estate plan from home rather than visit an attorney, making digital tools a highly effective solution. With 73% willing to use a free online estate planning tool provided by their employer, offering easy-to-use, online resources meets employees where they are and increases engagement with estate planning, turning intention into action.

A Benefit Employees Are Ready to Opt Into

Voluntary benefits provide flexibility for employees to select personalized options that meet their needs. Estate planning is no exception, with 82% of employees saying they would opt into estate planning if offered as a voluntary benefit. This high opt-in potential means companies can provide a valuable benefit that employees are ready to embrace, enhancing overall satisfaction without significant added cost to the employer.

The Business Case for Estate Planning as an Employee Benefit

Including estate planning in an employee benefits package can yield measurable business benefits:

- Improved Employee Wellbeing: Financial security leads to higher productivity, as employees are less likely to face financial stress.

- Increased Retention: By offering comprehensive benefits that address all facets of financial wellness, companies can build loyalty and reduce turnover.

- Enhanced Brand Reputation: Companies that provide estate planning demonstrate a commitment to employee wellbeing, setting themselves apart as industry leaders in modern, inclusive benefits.

The Takeaway: A Strategic Differentiator in Financial Wellness

Estate planning isn’t just a “nice-to-have” benefit—it’s an expectation. Employees want employers to care about their future and provide practical tools to secure it. By offering estate planning, companies can make a lasting impact on employee wellbeing, enhance their competitive advantage, and build a stronger, more loyal workforce. Embracing estate planning as a core part of financial wellness is a smart, future-focused strategy that connects with today’s employees and drives lasting success for companies.

For more information about how GoodTrust estate planning can help your organization to drive engagement and success, reach out to [email protected] or click here for more information.

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Survey Details:

Consumer Survey on the Importance of Estate Planning as an Employee Benefit

Overview: GoodTrust recently conducted a survey through a third-party provider (Disqo) to understand how employees perceive the value of estate planning as an employee benefit - both voluntary and employer sponsored. This survey aimed to assess the interest, perceived importance, and overall impact of offering estate planning as part of a comprehensive employee benefits package, providing insights into how such benefits can support employees’ long-term financial wellness and family security.

Survey Parameters:

• Participant Demographics: 175 respondents aged 45-65, all of whom are employed either part-time or full-time.

• Objective: To evaluate the significance and perceived value of estate planning when offered as a voluntary or employer-sponsored benefit within an organization’s benefits package.

• Directional results were conducted via an agile research platform powered by DISQO.