How fertility benefits improve recruitment and retention
Fertility benefits have become increasingly popular over the last several years, partly because of a shift in focus on diversity, equity and inclusion (DEI) and work-life balance — and they remain a powerful tool for employee recruitment and retention.
In fact, more than 60% of employees believe that they should have better fertility benefits in the workplace, creating a unique opportunity for employers to meet those needs.
Financial and logistical support for egg freezing, in vitro fertilization (IVF), and other family-forming options such as gestational surrogacy and adoption can make the difference between whether someone goes into debt to create a family or whether they are able to take the next step at all.
Around 12 in 100 couples in the US will need to seek some sort of fertility treatment to become pregnant.
Most of these treatments, such as IVF and donor-assisted reproduction, are not covered by insurance except under certain medical circumstances.
To pay for IVF, close to 70% of people who go through IVF will go into debt.
There is also a gap in access for members of the LGBTQ+ community, who are more likely to pursue adoption or donor-assisted reproduction but are rarely covered by insurance.
Helping employees save money
In Carrot’s Global Fertility at Work survey, 65% of respondents would change jobs for fertility benefits and 72% would stay at a company longer if they had access to fertility benefits.
Fertility benefits mean a lot to those who have access to them, but not many people do: only 12% of employees have fertility-specific benefits at work.
When it comes to treatment options beyond IVF, that number gets even smaller.
That means offering inclusive fertility benefits that cover all paths to parenthood can help your company stand out for covering more than just fertility treatments like IVF.
As well as being expensive, fertility treatments and other family routes such as adoption are also logistically challenging and can lead to presenteeism.
Employees may need to miss work and spend time during the day figuring out their next steps, anything from finding clinics and agencies to attending appointments.
Sixty-five percent of employees pursuing family-forming admit to researching their options during the working day, and 55% say fertility challenges have detrimentally affected their work performance.
Fertility benefits that provide care coordination can help employees save time on research by identifying high-quality clinics and agencies, simplifying appointment bookings and guiding them toward their next steps.
Support for remote workers
The promise of permanent remote work is another tool employers are using to recruit and retain employees.
The rise in remote working and the subsequent housing market boom have led some employees to find permanent homes in more rural areas.
While small towns typically offer more affordable housing and more space, they’re also less likely to have as much access to healthcare services compared with larger metropolitan areas.
Fertility benefits can support remote workers — if there are enough resources for them in their areas. Make sure your fertility benefit’s network of clinics and partners covers all parts of the country and the area where your employees live.
Telehealth options also help support remote workers in areas with more limited access to healthcare.
Reflecting your company’s values
DEI continues to be a top priority for employers and employees alike. In fact, company DEI efforts are tied to employee happiness and satisfaction.
As well as DEI hiring strategies, 40% of employers offer fertility benefits to support DEI.
In a market where job seekers and employees care about the values of their employer more than ever, fertility and family-forming benefits can be an integral DEI initiative that also makes employees feel that their personal lives are supported as much as their professional lives.
Job seekers and employees are thinking about how they want their jobs to fit into the rest of their lives and whether their employers understand, respect, and value their employees outside of work.
In partnership with Carrot
Comprehensive and inclusive fertility care platform, supporting family forming and hormonal health.
