More and more employees with children or who are looking to start a family in the short term pay special attention to benefits and extra benefits offered by companies to help them cover those expenses.
From coverage for the shipment of breast milk to egg freezing and in vitro fertilization, they are extra benefits seen as a good strategy, in addition to money, by companies to retain workers.
An analysis on ZipRecruiter, a digital employment platform, shows that the search for benefits for the formation of families they have been steadily growing since 2015, said Julia Pollak, the company’s chief economist.
These are some of the main benefits that companies are currently offering and that are more valued by employees when choosing a jobaccording to a list published by CNN based on ZipRecruiter searches.
Establishing a routine with a new family member can take time, and for many new parents, it helps to have options to accomplish this.
A Mercer survey shows that 70% of large employers currently offer paid paternity leave or plan to do so in 2023, and 53% provide or plan to provide paid adoption leave.
The US does not have a paid leave mandate for new parents; however, the Family and Medical Leave Act (FMLA) may grant unpaid leave of up to 12 weeksbut does not cover all workers.
Reliable child care is an essential part of being a successful working parent. But for many families, it is hard to come by and very expensive.
One way employers can help is to offer on-site childcare or a subsidy to help cover costs. Mercer’s survey also found that about one in 10 large employers currently offer or have plans to offer on-site child care by 2023.
In 2021, 66% of large employers covered some level of fertility treatment, up from 61% in 2020, according to asset management company Mercer.
Companies like Cisco offer full-time employees in the US and Canada a maximum lifetime reimbursement of up to $50,000 for family planning expensessuch as the collection, freezing, or storage of eggs, sperm, and embryos. And $20,000 for surrogacy or adoption support.
For their part, other companies such as General Motors launched benefits that reimburse the expenses of fertility treatments, surrogacy and adoption, up to a lifetime maximum of $40,000.
Some companies have enhanced their paid leave coverage for include miscarriages and failed surrogacy treatmentsadoption or fertility.
The Boston-based Mintz Law Firm offers up to 15 days of paid leave for employees after a miscarriage. Workers can also get up to five days in a 12-month period after a failed surrogacy, adoption, or fertility treatment.
travel during breastfeeding or pumping can be a logistical nightmare. And as business travel increases, more companies offer help to make the process easier.
Kate Torgersen, founder and CEO of Milk Stork, a breast milk shipping company, said demand among employers and parents to ship breast milk dropped almost immediately at the start of the pandemic.
However, he noted that last year they had numerous Fortune 500 companies approached the delivery of breast milk and other services.
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Source: La Opinion