A new report released by family health benefits platform Ovia Health by Labcorp (Ovia) uncovered U.S. workers’ preferences for family-friendly workplace benefits. American employees are looking for company benefits and policies that support their families, and nearly three-quarters (73%) would leave their current jobs to find them.
Respondents also expressed widespread dissatisfaction with available family-friendly benefits. Many (62%) employees don’t consider their employer family-friendly, and almost half (43%) graded their benefits a “C” or lower. Overwhelmingly, working parents seek longer and more pay during parental leave, stronger flexibility policies, and child care support.
Furthermore, parental leave is generally associated with the birth of a baby, but respondents expressed a need to expand that thinking regarding benefits. In fact, 10%-20% of pregnancies end in miscarriage, validating the employee demand for better maternity management support (to identify risk and intervene) and pregnancy loss support.
Along with fertility benefits, there is a growing demand for family-building offerings, including adoption, foster, and surrogacy support. One-third (38%) of respondents said family-building benefits are important, but only 5%-14% of employees can access them. Today’s workers want and need unbiased support and alternative family planning support, including adoption and surrogacy.
“Pregnancy among people in their 30s and 40s is on the rise, and thankfully, same-sex couples are able to speak more openly about their intentions to build their families. There’s more of a need for alternative family-planning support.”
– Dr. Jenny Carrillo, president of Ovia
Employer Takeaway
The Ovia report stated that if an organization values retention, productivity, and engagement, it should prioritize fostering a family-friendly culture in 2024 and beyond. To round out a great family benefits package and contribute to holistic wellness, employers can also incorporate nutrition, health screenings, and menopause support. An organization can promote a family-friendly culture by making its commitment to its workforce’s health obvious. More workers today are looking for a company culture that inclusively supports their families, assists with various paths to parenthood and helps them navigate life’s journeys.
Smith Brothers Insurance has the knowledge and experience to guide companies through the growing complexity and unpredictability of the employee benefits marketplace. Contact us today to connect with an Employee Benefits Specialist.
The content of this News Brief is of general interest and is not intended to apply to specific circumstances. It should not be regarded as legal advice and not be relied upon as such. In relation to any particular problem which they may have, readers are advised to seek specific advice. © 2024 Zywave, Inc. All rights reserved.