Empowering Family-Building Benefits
As employers continue to recognize the importance of supporting employees throughout their family-building journeys, it is important to consider the strategies that will future-proof these benefits. This article discusses four key strategies for empowering family-building benefits that deliver better outcomes at a lower cost.
1. Maintain and add family benefits for employee retention
One important strategy for future-proofing family-building benefits is to maintain and add benefits that support family-building. This can include maternity and paternity leave, adoption assistance, and fertility benefits. Providing these benefits not only supports employees but also helps to attract and retain top talent.
Research has shown that paid parental leave can have a positive impact on employee retention. A study by the Center for American Progress found that women who had access to paid leave were 93% more likely to be working nine to twelve months after giving birth than those who did not have access to paid leave. Similarly, a study by Glassdoor found that parental leave was one of the most important benefits that employees consider when evaluating job offers.
2. Prioritize health equity and DE&I
Another important strategy is to prioritize health equity and diversity, equity, and inclusion (DE&I) in family-building benefits. This means ensuring that all employees, regardless of their gender identity, sexual orientation, or race, have access to the same level of support.
For example, transgender and gender-nonconforming employees may require different types of support when it comes to family building. Ensuring that benefits are inclusive and available to all employees can lead to a more diverse and inclusive workplace.
3. Address each stage of your employees’ lives
Family-building benefits should also address each stage of employees’ lives. This includes supporting employees through pregnancy and childbirth, adoption, and fertility treatments. It can also mean providing support for employees who are navigating menopause or caring for aging parents.
Providing benefits that address each stage of employees’ lives can help to support them throughout their entire career. This can lead to increased loyalty and job satisfaction, as employees feel supported and valued throughout their journey.
4. Provide comprehensive support for reproductive health care
Finally, it is important to provide comprehensive support for reproductive health care. This can include access to fertility treatments, maternal and infant health services, and menopause support.
Research has shown that providing access to fertility treatments can lead to improved health outcomes and reduced health care costs. A study by the National Institutes of Health found that providing access to infertility treatments can reduce the need for more costly interventions, such as multiple rounds of in vitro fertilization or the use of donor eggs or sperm.
In conclusion, employers can future-proof family-building benefits by maintaining and adding benefits for employee retention, prioritizing health equity and DE&I, addressing each stage of employees’ lives, and providing comprehensive support for reproductive health care. By doing so, employers can attract and retain top talent, while supporting employees throughout their entire career.
Sources:
The Center for American Progress. Paid Family and Medical Leave: Strengthening Businesses and Empowering Workers. https://www.americanprogress.org/issues/economy/reports/2018/08/02/454584/paid-family-medical-leave/
Glassdoor. How to Win the War for Talent with Family-Friendly Benefits. https://www.glassdoor.com/employers/blog/how-to-win-the-war-for-talent-with-family-friendly-benefits/
National Institutes of Health. Fertility Treatments and Multiple Births. https://www.nichd.nih.gov/health/topics/fertility/conditioninfo/multiple-births
