3 ways fertility benefits can boost employee satisfaction
Fertility isn’t just a healthcare concern — it’s a workplace issue, too. Employers can play a pivotal role in supporting employees’ fertility and family-forming needs while boosting employee satisfaction with inclusive benefits.
Fertility care, such as egg freezing, and family-forming steps such as adoption and gestational surrogacy, can be costly, logistically stressful and emotionally draining — yet life changing for those who need them. Providing financial and logistical support through fertility benefits can affect whether or not employees stay and are happy at their company.
Three ways in which fertility benefits boost employee satisfaction:
1. Fostering an inclusive and supportive environment
Globally, fertility benefits play a crucial role in how employees assess their work culture. In a survey of people across the US, UK, Canada, India, and Mexico, 75% considered fertility benefits to be an important part of an inclusive company culture.
Having a culture of support and inclusion is particularly important for millennial and Gen Z employees who prioritise diversity, equity, and inclusion (DEI) and will consider an employer’s commitment to DEI when deciding where to work.
Many employers understand that DEI efforts are tied to employee happiness and satisfaction, too. In fact, 40% of employers offer fertility benefits as a part of DEI initiatives to support employees and diverse family structures.
2. Reducing financial stress and improving mental health
Financial challenges are the most common roadblock to starting a family. In the US, the average cost of one IVF cycle is $21,600. Gestational surrogacy can cost $136,000 and private domestic adoptions can cost between $30,000 and $60,000.
Many people go into debt or use savings to pay for fertility treatments, while others can’t even afford fertility treatments at all. Only 32% are able to afford treatments if needed.
This type of financial stress can be particularly damaging to a person’s mental health and productivity at work. Research suggests that those who are in debt are three times more likely to have a mental health issue. And among those employees who are financially stressed, 49% spend three or more hours each week dealing with financial-related issues at work.
By providing financial coverage for fertility treatments and family-forming, employers can alleviate the financial burden on their employees, leading to more peace of mind and higher job satisfaction.
3. Creating a workplace where people want to stay
Surveys show that employees are more likely to stay at companies where they feel supported as people, not just workers.
Supporting employees in their personal and professional lives can go a long way toward retaining them. One survey found that 61% of employees who received fertility benefits said they felt more loyal and committed to their employer. Another survey found that 72% would stay at their company longer if they had access to fertility benefits.
Providing support that drives retention pays off: research shows that companies with high employee engagement are 21% more profitable. Financial, logistical, and emotional support can help create an environment that empowers employees to pursue their goals outside of work while meeting their targets on the job, too.
Although fertility benefits can make a difference to those who have them, many companies still lack comprehensive fertility support for their employees.
In partnership with Carrot
Comprehensive and inclusive fertility care platform, supporting family forming and hormonal health.
