An empowered workforce translates to a thriving company. When employees feel they have power and support, they engage more deeply, boosting efficiency and productivity. Valued employees are also likely to remain loyal, reducing turnover rates.
Traditionally, companies have empowered employees through strategies like open communication channels, offering greater autonomy, and fostering professional growth. In the modern work environment, however, nurturing both personal and professional aspirations has become a fundamental part of employee empowerment.
Specifically, more employees today are seeking employers that support their family-starting goals by offering reproductive health benefits. According to a recent study, a remarkable 88% would consider changing jobs to access fertility benefits.
Why Are Employees Prioritizing Reproductive Health Benefits?
Rising healthcare costs are a significant driver behind the increased demand for reproductive health benefits. With healthcare expenses climbing swiftly, employees are bracing for a 6.5% average increase in 2024 alone, with anticipated continued growth over the coming decade, as detailed in various reports.
Women, in particular, bear higher healthcare costs, frequently referred to as the “pink tax,” which includes reproductive health-related expenses such as prenatal care, medications, and hospital bills for childbirth. Fertility treatments, like IVF, can cost as much as $30,000 per cycle, illustrating the financial strain reproductive healthcare can place on women.
The trend of deferred motherhood also contributes to the growing interest in reproductive health benefits. Unlike previous generations who typically started families in their 20s, contemporary workers tend to delay parenthood.
Delaying motherhood brings about new considerations in family planning. Egg freezing for future pregnancies, advanced genetic testing, high-risk pregnancy care, and C-sections are procedures that become important, adding to the overall costs.
Generational shifts further amplify the focus on reproductive health benefits. A recent survey reveals that Gen Z and Millennials place immense value on these benefits, with nearly 63% prioritizing fertility and pregnancy support. By 2025, these generations are expected to comprise 75% of the workforce.
What Benefits Are Employees Seeking?
Fertility benefits form the cornerstone of the reproductive health support employees desire. Demand for infertility treatments has surged, with providers striving to meet it, as indicated by reports. Employers can offer coverage for fertility testing, diagnostics, IVF, artificial insemination, and other infertility treatments.
Fertility treatments can also encompass reproductive surgeries, such as tubal ligation reversal, as well as therapies for endometriosis, uterine fibroids, and specific cancers that can impact fertility.
Employees seek coverage for prenatal and maternity care, which includes routine OB/GYN visits, ultrasounds, lab tests, prenatal vitamins, and other pregnancy-related necessities. Post-delivery, benefits can support newborn care and provide essential supplies for new mothers.
Reproductive counseling is another valuable offering, providing access to consultations, seminars, and resources that guide families through fertility, pregnancy, and childbirth. Mental health counseling can support those dealing with infertility, postpartum depression, and sexual health concerns.
What Additional Benefits Can Further Empower Employees?
Beyond reproductive health, various other benefits can empower employees. For example, generous family leave policies for both parents can demonstrate an employer’s commitment to personal goals, offering paid leave during childbirth and adoption, along with flexible return-to-work options.
Flexible work arrangements also empower workers to balance career and family. Remote and hybrid work setups have proven instrumental for many, enabling them to excel professionally and fulfill family responsibilities effectively.
Childcare support, such as on-site daycare facilities and childcare stipends, alongside parent support groups for work-life balance guidance, further strengthen family empowerment.
How Do Employers Benefit from Offering Reproductive Health Benefits?
Employers that grant reproductive health benefits often see a significant boost in loyalty. A recent report highlights that 61% of employees with fertility insurance felt more loyal and committed to their employers. Nearly 75% expressed greater gratitude, and 53% stayed in their positions longer due to the benefits. Furthermore, almost 90% of women who had IVF covered by employer-sponsored benefits returned to work post-maternity leave.
In an era where over half of employees consider leaving their current roles, as noted by reports, fostering loyalty becomes crucial for businesses aiming to enhance engagement, productivity, and employee retention. Empowering employees to expand their families while remaining dedicated to their careers is pivotal in nurturing that commitment.
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