Providing fertility benefits to employees isn’t simply a trendy workforce initiative but a crucial way to holistically support employees and create a strong company culture that boosts employee retention and mitigates costs. While many are choosing to delay childbearing until their careers are well established, this increases the likelihood of needing fertility treatments [1]. The use of assisted reproductive technology (ART) by infertile couples is increasing by 5% to 10% per year [2].
To build an equitable and inclusive fertility benefits package that meets your workforce needs, it is crucial to partner with the right vendor. LetsGetChecked’s at-home Fertility Hormone Tests can help your employees understand their fertility status and use this actionable health information to better understand their options and plan for the future. Here are three reasons why employers should offer fertility benefits for employees.
1. To support talent retention
Reports show that the majority of employees now expect fertility benefits and are willing to change jobs for them, with 70% of millennials and 90% of those experiencing infertility willing to change jobs for fertility benefits [3]. If employers want to compete for top talent, they must show that they are an organization that not only supports its workforce but is willing to invest in them.
Since the United States has some of the worst parental-leave laws among the world’s wealthiest countries, family-friendly benefits can help companies gain a competitive hiring advantage. A recent survey revealed that among employees who received fertility benefits, 61% reported increased loyalty and commitment to an employer as a result [4]. Since employees have more options than ever before about where they want to work, investing in benefits that attract and retain employees is essential.
2. To provide inclusive benefits that support all employees of a diverse workforce
Companies are increasingly prioritizing and promoting diversity, equity, and inclusion (DEI) efforts to create an inclusive and equitable workplace. Understanding your workforce’s unique needs is an integral part of taking care of employees and creating an inclusive company culture. When deciding what benefits to provide, organizations should ensure that they cover everyone and reflect on what matters to their employees.
Employees can highly value fertility benefits regardless of their gender identity or relationship status. An inclusive offering can support the well-being of an increasingly diverse workforce, particularly BIPOC and LGBTQ+ employees who can experience medical discrimination and difficulty navigating fertility and sexual healthcare. Inclusive fertility benefits will continue to grow in importance, with 58% of benefits leaders viewing it as discrimination to not offer fertility benefits by 2025 [5].
3. To enable long-term cost savings
Struggles with infertility can significantly impact workplace productivity, absenteeism, and employee retention. At-home fertility benefits can help employees engage in proactive testing that offers crucial fertility insights. Knowing this information can guide them toward the appropriate interventions that can ultimately improve fertility and reduce long-term costs.
As employees are willing to leave a job in search of better benefits, providing them with convenient and high-quality fertility benefits can also reduce costly churn rates. Voluntary turnover causes businesses in the United States to lose approximately $1 trillion annually. With the cost of replacing a single employee ranging from one-half to two times their annual salary, it is crucial to implement benefits that increase employee retention [6].
At-home fertility testing with LetsGetChecked
According to the Centers for Disease Control and Prevention (CDC), about 10 percent of women between 15 to 44 in the United States have difficulty getting pregnant or staying pregnant [7]. Adding LetsGetChecked’s at-home Fertility Hormone Tests to your organization’s benefits package is a simple and effective way to empower employees with information about their hormonal health. Our at-home tests can enhance your wellness offering and meet your diverse and dispersed workforce where they are, making it easier and more convenient to engage in proactive testing.
References
- https://www.acog.org/womens-health/faqs/having-a-baby-after-age-35-how-aging-affects-fertility-and-pregnancy#:~:text=By age 30%2C fertility
- https://www.singlecare.com/blog/news/infertility-statistics/
- https://www.benefitnews.com/opinion/3-trends-in-fertility-and-family-planning-benefits-for-2022
- https://fortune.com/2022/01/31/companies-fertility-benefits-great-resignation/
- https://www.wtwco.com/en-US/Insights/2018/01/infographic-growing-number-of-employers-are-offering-fertility-benefits-to-support-retain-talent
- https://www.gallup.com/workplace/247391/fixable-problem-costs-businesses-trillion.aspx
- https://www.womenshealth.gov/a-z-topics/infertility
