The past few years have only reinforced the value of finding and keeping the best workers. Since COVID-19 first rocked the world economy, workers have been more willing to leave unsatisfactory employment to find a situation that better fulfills their needs in terms of pay, opportunity, stimulation, work-life balance, and benefits. Companies looking to not just attract but retain the best talent have to satisfy as many of these needs as possible. Comprehensive benefits of all sorts are no longer considered “perks” so much as a necessity for competitive employers. Fertility benefits are one area companies should absolutely have covered to maintain the strongest possible workforce.
Family forming is a huge part of work-life balance. Being able to create and support the type of family one wants is central to each employee’s sense of identity and self-actualization. Roughly one third of American adults say they have either used fertility treatments or know someone who has. If not covered by workplace benefits, these treatments can be expensive. Many families use credit to pay while others are simply unable to afford treatment.
Employees without fertility coverage thus suffer personal stress as they try to conceive and financial strain as they work to afford the necessary treatments. Employers who provide these benefits become more desirable for individuals looking for flexibility and affordability when it comes to forming families.
Businesses that provide comprehensive fertility benefits are also more likely to attract a diverse workforce. LGBTQ+ families and single parents both face difficulties when seeking family forming treatments. Fertility plans offered through traditional insurance providers often will not cover these parents’ needs.
Employers who offer fertility benefits to all employees regardless of life situation will be more likely to find and retain staff from across a wide selection of backgrounds and experiences. Diversity leads not only to a broader range of ideas but to stronger environment, social, governance (ESG) metrics to attract investors and positive press.
Fertility benefits also go hand-in-hand with long-term remote work, another key benefit employees are seeking in the post-COVID era. Companies whose fertility benefits offer nationwide coverage can effectively hire and retain employees who live and work remotely, who will be able to seek family forming treatments whether or not they work close to company headquarters.
Recent shifts in work culture prove employees are most likely to seek out businesses that care about more than just their productivity. Employers who provide family building benefits to all employees that need them show consideration for their workers’ personal needs. This sort of consideration raises morale across the board and leads to the best talent seeking out and staying with companies that reflect positive and inclusive values in their benefits package.