Helping All Your Employees Helps the Company, Too
Family-building benefits are increasingly popular with employees. More and more companies are offering at least some coverage for fertility treatment, while others include fertility preservation such as egg freezing and sperm freezing. But these programs are not always a good fit for all employees.
A comprehensive family-building benefit includes services for LBGTQ+ and single employees, as well as heterosexual couples who need fertility treatment. A benefit that helps all employees is a powerful tool in recruitment and retention. Here are five reasons companies should offer a comprehensive family-building benefit.
Infertility Does Not Discriminate
Infertility is not just a white woman’s problem. It affects people of all races, sexual orientation, gender, age, religion, and marital status. Several studies have found Black women are 1.5 times more likely to experience infertility than other races. Infertility is more likely to happen as a woman gets older, but it can strike young women and men as well. A comprehensive family-building benefit will support all your employees in their desire to have a family, whatever their circumstances may be.
Different Strokes for Different Folks
Employees have a wide range of reasons to need help with building a family. Single people can want to have a child. Some single people want to preserve their fertility so they can have a child later in life. Same-sex couples may need a sperm donor, egg donor, and/or surrogacy or adoption to have a biological child. Medical issues such as cancer treatment may cause a person to need fertility preservation. Both women and men may be infertile and need treatment. Some people will not pursue IVF for religious reasons but may still be open to adoption or fostering to build a family. It’s important that a company’s family-building benefit encompasses the needs of all employees.
Supporting Employees Improves Productivity
One of the strongest drives most humans feel is the urge to have a family, whether it is a biological family or a “chosen” family. We all desire to bond with and care for other people. Employees who are struggling with infertility are often stressed and distracted. Trying to manage infertility treatment or adoption on their own demands a lot of time and money. Employees dealing with these stressors are preoccupied and less productive at work. Supporting their efforts and helping them manage the process can improve productivity.
A Company That Cares
A comprehensive family-building benefit that fits the needs of all your employees shows your company cares about employees, and supports diversity and inclusion. It can be a strong incentive in recruiting the best employees. According to a survey by FertilityIQ, 61% of employees who received fertility coverage from their employer, reported feeling more loyal and committed to their employer as a result.
A managed family-building benefit can help reduce health care costs for your company compared to an unmanaged benefit, while increasing your employees’ success at having a child. It’s also a powerful tool for employee retention, with 53% of employees staying longer at a company when benefits are covered. Employees are more loyal when employers support their work-life balance. A comprehensive family-building benefit sends a strong signal that employees are valued.