While diversity, equity and inclusion (DEI) initiatives continue to be assessed, the team at ARC Fertility believes that DEI is a thoughtful and vital component of health benefits platforms and a key driver for maintaining sustainable growth for companies nationwide. Recent Supreme Court rulings and a rise in lawsuits targeting DEI efforts among private employers underscore the necessity of staying informed and proactive in this domain.
ARC Fertility emphasizes the important role of high-quality, cost-effective and flexible solutions not only in family-forming care but also in fostering a diverse and inclusive workplace. DEI initiatives are essential for organizational success, and family-forming benefits can contribute significantly to achieving DEI goals and sustainable company-wide growth.
Leveraging Family-Forming Benefits to Achieve DEI Goals
Family-forming benefits are a crucial element in advancing DEI initiatives. By offering comprehensive family-forming solutions, employers can support the diverse needs of their workforce, including those from LGBTQ+ communities, single parents and individuals with various reproductive health challenges. Here’s how family-forming benefits contribute to DEI goals:
- Supporting Diverse Families: Offering fertility treatments, adoption assistance, surrogacy support and egg freezing options ensures that all employees, regardless of their family structure, have access to the resources they need to build their families.
- Inclusive Policies: Providing equitable family-forming benefits demonstrates a company’s commitment to inclusivity and can significantly enhance employee satisfaction and retention.
- Breaking Down Barriers: Comprehensive family-forming benefits can help break down barriers that marginalized groups traditionally face in accessing reproductive healthcare.
The Importance of DEI for Organizational Success
DEI is not just a buzzword; it is a critical component of a successful business strategy. Companies that embrace DEI witness significant boosts in innovation, employee retention, workplace productivity and overall financial performance. Whether you are a small enterprise or a large corporation, integrating family-forming benefits into your organization can improve DEI goals, leading to substantial benefits.
Diverse teams can develop more innovative ideas and are better equipped to solve complex problems. Studies have shown that diverse teams see a 19% revenue boost from innovation compared to their less diverse counterparts. This increase in innovation stems from the variety of perspectives and ideas that a diverse team brings to the table. By fostering an inclusive environment, companies can harness these diverse viewpoints to drive creativity and develop groundbreaking solutions.
Additionally, new regulations, such as Nasdaq’s push for more diverse directors, highlight the growing importance of board diversity in corporate governance. Diverse boards bring a wider range of perspectives and experiences, leading to more effective decision-making and better overall company performance.
Diversity Fuels Innovation
At ARC Fertility, we have seen firsthand how diversity fuels innovation. Our approach to providing high-quality, cost-effective and flexible family-forming and fertility solutions is driven by a team that values diverse perspectives, ensuring that all individuals feel seen and supported throughout their entire family-building journey.
This diversity enables us to continuously improve our services and deliver exceptional care to individuals on each unique path to parenthood – regardless of age, background, sexual orientation, gender-identity, relationship or economic status.
By offering flexible solutions tailored to the diverse needs of our clients, we ensure that everyone has the opportunity to receive high-quality care at the lowest possible cost without facing discrimination or bias.
Attracting and Retaining Top-Talent
In today’s competitive job market, attracting and retaining top talent is a significant challenge for many organizations. Workforce diversity is a key factor in this regard, with 76% of employees valuing diversity in their workplace. A diverse and inclusive work environment not only attracts a broader talent pool but also fosters a sense of belonging and engagement among employees.
Moreover, offering a wider array of family-forming and fertility treatment options that enhance a family-friendly company culture helps bolster recruitment and retention across an increasingly diverse workforce. A cost-effective, culturally sensitive benefit promotes diversity and is inclusive of all couples and individuals—from reproductive wellness through the journey to successful family building and return-to-work.
Advancing Coverage
According to the Survey on Fertility Benefits conducted by Mercer and commissioned by RESOLVE: The National Infertility Association, based on 254 respondents that cover an evaluation with a reproductive endocrinologist and/or various fertility treatments, about three-fourths (74%) of these respondents provide coverage for some form of treatment beyond an evaluation. The three reasons for covering infertility treatment cited by the most respondents (about 50% for each):
- To ensure employees have access to quality, cost-effective care;
- To stay competitive to recruit and retain top talent; and
- To be recognized as a family-friendly employer.
On the other hand, two-fifths of respondents (40%) offer coverage to support DEI efforts, a response option that was more common among larger employers. Nearly half of employers with 5,000 or more employees have this objective, compared with 33% of those with 10-499 employees. Additionally, respondents that have added coverage within the last two years are more likely to have done so in support of DEI: 61% of respondents cited it as a primary objective, compared with 24% of respondents that have offered coverage for more than five years.
ARC Fertility’s Commitment to DEI
ARC Fertility’s recent awards and recognition underscore our dedication to delivering high-quality, cost-effective and flexible family-forming solutions. Our commitment to DEI is integral to our success, enabling us to provide comprehensive and innovative benefits that support each employee’s reproductive health needs.
ARC believes that everyone should have their best chance to achieve this dream, regardless of financial background, ethnicity, relationship status, sexual orientation, gender-identity or other status. By integrating DEI into our core operations, we enhance employee satisfaction, boost innovation and build stronger connections with our clients. We believe that a diverse and inclusive workforce is essential for sustainable growth and are committed to fostering an environment where everyone can thrive.
For employers looking to leverage the full potential of their workforce and enhance their benefits packages, ARC Fertility’s award-winning programs offer a valuable opportunity. Our high-quality, cost-effective and flexible solutions are designed to meet the diverse needs of your employees and contribute to the overall well-being of your team.
To learn more about how family-forming benefits can support DEI goals and drive organizational success, contact us.