Becoming a parent is the dream of many individuals, regardless of gender, age, marital status, or sexual orientation. However, numerous biological and social aspects can interfere with that dream. At least 15% of the population struggles with infertility, dealing with frustrations and stigma. For same-sex couples, female professionals, single parents, can also be challenging to start and plan a family. Fertility clinics are the hope for many people, but the process is costly and can be emotionally and physically exhausting. To make matters worse, in many European countries, regarding fertility coverage, the insurance system is not inclusive and discriminates against sexual orientation and gender. In that complex moment, financial and emotional support is fundamental. Employers, therefore, can play an important role in their employees’ lives.
In the US, fertility & family forming incentives are common employee benefits among successful companies, they came to revolutionize the relationship between employers and employees and have proved to create significant impacts.
To help you better comprehend how they can be a great ally to your business and its work environment, we hand-picked the five best reasons to offer fertility & family forming benefits:
1. Boost employer brand
Employer brand defines a company’s popularity and reputation as an employer. For the empowerment of employer brand, companies use employee benefit programs as essential tools to achieve success. The benefits are numerous and worth the cost. A strong employer brand is a powerful tool to boost your company’s image as a great place to work. Consequently, it sparks the interest and desire of qualified professionals to work for you. It is directly related to the enhancement of productivity, the decrease of costs and employee turnover. As a result, the internal reputation reflects on the external, increasing competitiveness and attracting more customers.
By supporting your staff to make their dream come true, you also support the success of your business and brand. Organizations that focus on health (physical and mental), well-being at work, and the quality of life of their staff, humanize professional relationships.
The implementation of fertility and family forming programs brings a more humanistic perception of your company and helps your employees feel valued and appreciated.
2. Become a talent magnet
A desirable working environment and a positive employer brand improve employee experience and quality of life, increasing satisfaction and retention. Companies that empower their team have higher-quality and more satisfied employees. Fertility & family forming programs and reputation can be crucial aspects for choosing a place to work. In the US, 68% of employees are willing to change their jobs to ensure fertility coverage. The percentage reaches 90% when it comes to employees with infertility issues. Also, to have access to the benefits, 70% of the millennials would look for another job, in case their employers don’t provide them. Regarding the employees who enjoyed the fertility benefits, 62% of them would remain in the company. As fertility incentives are a great tool to strengthen employers’ attractiveness, it is essential to keep in mind that 75% of the candidates check companies’ reputations before applying for a job.
According to LinkedIn, 69% wouldn’t accept a job in a firm with a negative reputation, even if unemployed. It also illustrates that the likelihood of getting qualified applicants is 50% more and the reduction of employee turnover is about 28%.
A positive feeling towards the company retains and supports talents. As a consequence, companies with a desirable employer reputation become a desire for talented professionals and future leaders.
3. Enhance productivity and engagement
It is undeniable that starting a family is a life aspiration for many individuals. The feeling of having support from their employers to achieve that dream creates a great impression and satisfaction with the company. Also, an effective maternity plan reflects on the mental and physical health of the staff, reducing stress and absenteeism.
Happy employees are more likely to be inspired to put their best effort and to be more engaged. Motivated and empowered staff increases productivity and allows an organization to achieve higher levels of output.
Employee satisfaction is crucial for every firm as it can lead to positive growth. Motivation helps staff to reach personal goals and assists the self-development of an individual. Once that employee meets some initial objectives, they realize the clear link between effort and results, which encourages them to remain at a high level. For the firm to get satisfactory results, an employee must have a positive balance between the capability to perform the task given and the willingness to do it. This balance can lead to productivity and efficiency enhancement, which consequently brings you financial benefits.
4. Fortify corporate culture and brand value
Infertility issues are not rare and can affect women and men equally. Couples are opting to begin families at a later age, beyond the ideal fertility period. Women, in their early thirties, often find themselves feeling they have to decide on either starting a family or pursuing a career. Also, more single parents and members of the LGBT+ community are seeking parenthood. However, a lack of financial resources and emotional support can be strong barriers to the process. Here are some aspects to be considered:
- The concept of family has evolved throughout the years. A family can comprise hetero or same-sex couples and single parents
- The number of women in the workplace has strongly increased, however, studies show that 95% of the female egg cell reserve is gone by age 35 and 50% of women with an academic degree don’t have a child before this age
- 2 in 5 new mothers are still leaving the workforce
- 1 in 8 couples requires fertility treatment
- Around 6% of the population in Europe identify themselves as LGBT+, and their path to parenthood comprises donor conception, adoption or surrogacy.
- Regarding the coverage of fertility treatments, health insurances in Europe exclude same-sex couples and single parents
Fertility benefits strengthen family values, and more than that, it empowers equality, diversity, and inclusion. They help your company to develop.
Businesses can’t continue to grow if everyone thinks the same, acts the same and has the same interests. A diverse environment boosts creativity and provides a more realistic perception of the world. It means that if you are open to new ideas, you’re much more likely to succeed.
By supporting these elements, firms reinforce values and principles that fortify their culture. As a consequence, it also reflects on the way your customers perceive your company, as many of them recognize the importance of supporting diverse and progressive companies. An organization that embraces inclusivity earns a loyal consumer base by demonstrating that its values reflect those of its audience.
5. Stand out from competitors
Fertility incentives are a great opportunity to create advantages over your competitors. Despite the advantages in productivity and efficiency, fertility & family forming benefits are new to the market, but they are transforming the way companies connect to their employees. It shows you care about the health and well-being of your staff, making sure they will never have to choose between career and parenthood.
By implementating new, innovative and progressive benefits, you stay ahead of your competitors, demonstrating that you are a true leader and not a follower.
Naturally, the respectable reputation of the firm reflects on the interest of customers, especially millennials and the ones who support diversity and inclusion. Customers will think twice when choosing competitors over you. The good impressions and reputation show the uniqueness of your company. They prove that your principles are genuine and that you aim to create a positive impact on society. For a more equal world, we truly believe in the power of supporting your employees on their individual journey towards parenthood. Let’s get in touch to find out more about how you can create an impact on your business and employee experience. We are more than happy to provide you with all the necessary support.