Episode 176: Building Families with Ferring — A Win-Win
Times are changing, and more employers are choosing to prioritize fertility and family building benefits to attract and retain talent. Investing in employee benefits isn’t just about cost, it’s about fostering a positive employee experience, driving engagement, and ultimately enhancing business performance.
Today’s guest, Purvi Tailor, Vice President of Human Resources at Ferring U.S., describes Ferring’s groundbreaking approach to employee benefits. With a focus on enhancing the family building journey for employees, she discusses the implementation of the “Building Families at Ferring” package, which includes access to unlimited financial support for family building care, 26 weeks of paid parental leave, and a supportive workplace culture.
Tune in to learn how you can start reimagining your company’s benefits package for a brighter future.
Guest: Purvi Tailor, Vice President of Human Resources at Ferring U.S.
Host: Dan Bulger, Progyny
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This episode is also a video! Watch it here:
Here are some highlights from this episode:
Finding the right benefit for your employees
01:31 – 03:56
Purvi Tailor: So, we chose to add Progyny, at the time, you know, through the research that we did, Progyny was the market leader, and we knew you had great relationships with many of the clinics. And your philosophy also matched ours. And so, we decided that would be a good partnership for us. We wanted the decision to be what was in the best interest of the patient. And we wanted them to be less concerned about the financial burden and more focused on doing what will help them build the family that they want. And the bundled approach really helped us accomplish that.
I think in 2022, what we did was we really changed the game. By launching a market leading package called Building Families at Ferring. It’s a holistic package with three tiers. The first tier is unlimited financial support that you may require to build your family and that is offered regardless of the role the employee has, the market that they’re located in, or the specific journey that they might be on whether it’s a natural birth, whether you’re going through an adoption, etc. As the second part of the package, we have what I consider a groundbreaking 26 weeks of paid parental leave, which we are using as a global standard. And that applies to both the birthing parent as well as the non-birthing parent. And the third pillar of our package is just the level of support and awareness that you see in the workplace. And so, we do a lot of programming on that as well. I’m really proud that we started to offer this benefit in 2022. And that really has enabled us to expand the partnership that we have with you at Progyny as well.
Times are changing
05:13 – 08:47
Purvi Tailor: As an employer, I think we are a people first culture. And this building families, that package, obviously, is an amazing way for us to be able to demonstrate that – not only because it’s core to the business that we’re in, but it also sends a message to the employee base. You know, it helps us retain the talent that we have. But I think it’s also attractive for potential people that might come and work for us. Because it’s a way that we live our mission as a company, not just for our patients, but for the colleagues that work right next to us here. So, I think we feel really, really, really good about that.
Dan Bulger: In the past, it wasn’t always like this. Employers didn’t cover things like fertility, and they certainly didn’t provide anywhere near the level of support that Ferring is offering with their benefits package. But times have changed, and more employers are actively searching for ways to bring fertility and family building benefits to their people.
It’s a win-win
08:49 – 11:48
Purvi Tailor: Gone are the days when employers had the luxury of not thinking about what can help drive retention in the workforce. They have a lot of choices. And so, I do think benefits, whether it’s fertility benefits, or any of the many different types of benefits that exist, are great ways to attract and retain employees. I also think that once you have even a handful of those benefits, they are important in creating a more positive employee experience, which ultimately drives engagement. And all the research shows that if you have better engagement, you have better performance. And if you have better performance, your business will probably do better. So, I think it’s a win-win. And it’s a shame if people look at it just from a financial cost, because there’s probably a balance on the other side where the employer would probably reap a benefit from it, an increase in productivity, and retention, which we all know, when you don’t have those two things — that also cost money. So again, I’d encourage employers to also look at it through that lens. I would encourage any manager of benefits to start looking at this, no matter what size, the company that you work for is, you know, I think it’s important to look at your workforce, see what you believe would benefit them the most. And keep in mind that you don’t have to do it all at once.
Dan has been in the healthcare industry for the past ten plus years as a multimedia content producer. Better known as ‘Video Dan’ he has interviewed numerous doctors, patients and other experts in the world of fertility. He’s also the producer for this podcast, This is Infertility and the producer behind the Progyny YouTube Channel which features interviews with dozens of the nation’s leading fertility specialists. On a personal note Dan’s parents started fostering kids when he was four years old, and he considers himself a proud older brother to over 100 foster children.
Purvi Tailor is responsible for Ferring U.S. human resources and is a member of the Global HR Leadership Team.
Purvi has over 25 years human resources management experience working in diverse industries, including pharmaceuticals and financial services. Before joining Ferring in 2021, she was Head of Human Resources for Johnson & Johnson’s North America Commercial Medical Devices & the Strategic Customer Group. Prior to Johnson & Johnson, Purvi held a diverse set of global roles as a senior HR business partner with American Express. She began her career at JPMorgan Chase where she held positions of increasing responsibility in human resources. She also led the North America Brand Marketing & Communications team at RiskMetrics Group, a risk management software company and spin-off of JPMorgan Chase.
Purvi has a background in psychotherapy and has treated adults across a broad range of psychological diagnoses in underserved communities.
Purvi holds a Master of Science in Clinical Social Work from Columbia University in New York, NY and a Bachelor of Arts in Organizational Studies from the University of Michigan in Ann Arbor, MI.