It’s no secret that happy employees make a successful company. Human resources and benefits leaders know that supporting employees drives productivity across the board.
But people have more options in today’s competitive job market. They’re looking for companies that offer opportunity and rich benefits. Of course, they overwhelmingly choose companies that support employees and their families.
Are your company’s benefits enough to meet the needs of your employees – now and in the future?
Here are 5 things companies should be doing to support employees, attract and retain top talent, and boost productivity:
1. Offer Flexible Personal Leave
Offering flexible leave builds trust. Your employees may have a number of personal responsibilities.
For example, partners may need to leave work to care for a spouse facing chronic health issues like infertility.
When Kaci Aitchison, a TV news reporter, went through fertility treatment, she took unpaid month-long leave. And, she’s not alone – one in 8 people will face infertility. Supporting employees by allowing time away from work (even for just a day or two) can decrease stress levels significantly.
Cassandra Pratt, Vice President of People at Progyny, said in an article for Entrepreneur, “This support gives people the peace of mind that if they need extra time, they can take it. That comfort level goes a long way.”
2. Promote Diversity and Inclusion
The best way to grow a successful business is through a diverse team that mirrors a global perspective. But, for diversity and inclusion initiatives to thrive, it has to be more than just a slogan.
“Our enhanced benefits were designed to help our employees and their loved ones, however, they may define them, live their best lives – and feel cared for in all phases of their lives – enabling them to achieve their full potential,” Claudia Copelin, the head of health and wellness at MassMutual.
3. Provide Personalized Emotional Support
In a given year, 1 in 5 adults will experience mental illness.
People who have chronic medical conditions, 60% of the U.S adult population, are at higher risks of mental illness. For instance, illness-related anxiety and stress, can trigger symptoms of depression.
As a fertility benefits provider, this is especially true for those facing infertility. It’s a disease that now surpasses diabetes and breast cancer incidence rates.
Still, conventional coverage falls short in providing any clinical or emotional support.
At Progyny, each member is assigned a dedicated Patient Care Advocate (PCA). PCAs support them with each and every family building need. This level of personalized support helps drive better outcomes and a more cost-effective benefit for employers.
4. Implement Flexible and Comprehensive Care
We believe fertility benefits that can be customized. This allows everyone to receive the treatment they need to achieve the best possible outcome.
When Microsoft decided to implement a new fertility benefit, they partnered with Progyny to eliminate their current dollar limit and stay competitive in an ever-changing job market.
Conventional coverage often takes a one-size-fits-all approach to the many different paths to parenthood. For instance, outdated policies may require precertification. And, a result, exclude LGBTQ+ individuals and single parents by choice.
Your employees may then make cost-based treatment decisions while worrying their coverage will run out. This is just one of the many barriers that block people from starting families. It can lead to poor outcomes for both employee and employer.
5. Increase Employee Engagement
Often times companies already have the resources and policies in place. After all, they are there to attract and retain your top talent. So, why aren’t they being utilized?
Ineffective communication around the benefits is often to blame. Employees may not understand their benefit plans or easily access information.
Find new ways to support employees by telling them about their options. Tap into Employee Resource Groups, host webinars or virtual events, or create deliberate employee newsletters. It’s low cost and high value.
Above all, companies must have leaders championing comprehensive benefit strategies that reflect the values of your company.
How does an effective fertility and family building benefit fit into your strategy? Download our whitepaper to learn more.