In 2023, companies are starting to recognise the importance of family-forming benefits and the impact they have on their employees' lives. These benefits go beyond traditional healthcare coverage and provide comprehensive support for individuals and couples navigating the fertility and adoption journey.
Why all companies should offer family-forming benefits
In today's world, it's becoming increasingly important for companies to prioritise family-forming benefits. Offering these benefits not only demonstrates a commitment to supporting employees in their personal lives but also helps to create an inclusive and supportive work environment.
Alleviate the financial pressures of starting a family
One of the key reasons employees would like to see family-forming benefits at their company is to help reduce the immense financial burden they're facing. Fertility treatments and adoption journeys can be incredibly expensive, with costs ranging from thousands to tens of thousands of pounds. By providing comprehensive fertility coverage, companies can alleviate the financial strain on their employees and help them with their dreams of starting a family.
To support your employees navigate a difficult and complicated process
However, family-forming benefits go beyond just financial assistance. Companies that prioritise these benefits often provide access to resources and support networks, such as counselling services, and educational materials. This holistic approach helps employees navigate the complexities of family planning and ensures they feel supported throughout their family-forming journey. Implementing a flexible work policy that allows employees to request time off or adjust their working hours significantly eases the challenges they face during their journeys and creates an environment where employees can feel comfortable sharing what they're going through with their employer.
Family-forming benefits will help build an inclusive workplace, to all paths to parenthood
It's also important to keep in mind that family-forming benefits are not just limited to couples struggling with infertility. They can also benefit single parents, same-sex couples, and individuals who choose to build their families through surrogacy or adoption. By offering inclusive benefits, companies can create a more supportive environment that recognises and celebrates different family structures and choices. By embracing and accommodating everyone in the workplace, regardless of gender, age, life circumstances, or sexual orientation, companies can attract a diverse pool of talent and create a culture of acceptance and respect.
Fertility and family-forming benefits can increase employee productivity and satisfaction
And from the employer's perspective, offering family-forming benefits can positively impact employee satisfaction and retention. Employees who feel supported in their personal lives are more likely to be happier and more productive in their professional roles. In a recent study we've run with Fertility Network UK, we found that 3 out of 4 people said that their productivity at work was strongly impacted by fertility challenges and having support in place can help with this. By providing these benefits, companies demonstrate a genuine commitment to the wellbeing of their employees, which can foster loyalty and long-term engagement.
They can attract and retain the best talent
When a company offers attractive benefits, it stands out in the competitive job market. Potential employees are more likely to be drawn to a company that demonstrates a genuine commitment to their wellbeing and work-life balance. Family-forming benefits, such as comprehensive fertility coverage, adoption assistance, and supportive resources, are particularly appealing to individuals who are at a stage in their lives where starting or expanding their families is a priority.
In line with this, attractive benefits play a crucial role in retaining employees. When employees feel supported and valued by their company, they are more likely to be engaged and satisfied in their roles. Family-forming benefits show that the company recognises and embraces the diverse needs and choices of its employees, fostering a supportive and inclusive work environment. This, in turn, creates a sense of loyalty and commitment among employees, leading to higher retention rates.
There is plenty of research to show that happy employees are more productive
A study conducted by the Social Market Foundation found that happy employees were 20% more productive than their unhappy counterparts.
When employees have access to family-forming benefits, such as comprehensive fertility coverage and adoption assistance, they are more likely to experience higher levels of satisfaction and happiness in their personal lives. This, in turn, translates to increased productivity in the workplace.
Companies that prioritise the wellbeing and work-life balance of their employees by offering family-forming benefits are more likely to have a highly engaged and productive workforce. By investing in their employees' family-forming journeys, companies create a supportive and inclusive environment that fosters loyalty and commitment, and ultimately drives productivity.
Companies with the best family-forming benefits are the ones that are truly committed to supporting employees through all life stages
Whether it's LGBTQ+ couples, single parents, or individuals exploring adoption, surrogacy, egg donation, sperm donation, or IVF, these companies understand the importance of providing inclusive and comprehensive benefits.
These companies go beyond just offering the basics and recognise the unique needs and challenges that employees may face on their family-forming journeys. They offer a wide range of benefits, such as fertility treatments, adoption assistance, and even support for mental health during the process.
By providing inclusive fertility benefits, these companies ensure that employees have access to resources and services that can help alleviate the financial burden of family planning. This includes coverage for fertility treatments, reproductive technologies, and even surrogacy services.
Furthermore, these companies create a supportive environment by promoting work-life balance and offering flexible scheduling options. They understand that building a family can be a complex and emotional process, and strive to provide the necessary support and resources to make the journey a little easier.
The business impact of offering family-forming benefits to your employees
Offering family-forming benefits to employees can have a significant financial impact on businesses. Research has shown that companies that provide comprehensive fertility benefits and other family-forming support have higher employee retention rates. Employees are more likely to remain with a company that values their family-building journey and provides the necessary resources and support.
The cost of replacing an employee can be substantial. It involves recruiting, onboarding, and training new staff, which can drain financial resources and productivity. By offering family-forming benefits, companies can retain experienced and talented employees who may otherwise leave to seek better support elsewhere. In addition, providing family-forming benefits can also help attract new talent to the organisation. In a competitive job market, companies that prioritise their employees' family planning needs are more likely to stand out and attract highly skilled individuals.
Companies that offer these benefits may also see a reduction in healthcare costs. By supporting employees through fertility treatments, adoption assistance, and mental health support, businesses can help employees manage their medical costs and potentially avoid more expensive interventions down the line.
Overall, the financial impact of offering family-forming benefits should not be underestimated. It can lead to higher employee retention, lower recruitment costs, increased productivity, and a stronger reputation as a company that values its employees' well-being and family-forming journey.
10 companies with the best family-forming benefits
Bain Capital 🏆
Bain is a Fertifa client, and provides its employees with a wide range of family-friendly benefits, including a generous allowance to be used on fertility treatments and testing, 121 support from our Patient Advisors, and support for same-sex couples.
Microsoft
Microsoft offers an extensive range of family-forming benefits, such as fertility treatments, adoption support, and surrogacy benefits, along with generous parental leave policies.
Monzo 🏆
The Fertifa clinical team provides continuous, unlimited 1-2-1 clinical guidance and support to Monzo employees throughout their fertility and family-building journies. Additionally, we grant their employees entry to a comprehensive array of educational resources, addressing both common and complicated fertility challenges.
Space NK 🏆
Partnering with Fertifa, Space NK provides its employees access to a range of educational resources meticulously crafted by Fertifa's in-house clinical team. These resources are designed to help their employees better comprehend fertility medications, fertility healthcare plans, and related subjects. Additionally, employees benefit from specialised Q&A sessions and webinars conducted by a fertility doctor, focusing on key fertility areas.
Netflix
Netflix provides its employees with generous parental leave policies, including unlimited time off during the first year after having a child. The company also covers fertility treatments, adoption support, and surrogacy benefits.
Osborne Clarke 🏆
The Fertifa in-house clinical team look after all Osborne Clarke employees with unlimited 121 clinical advice and support throughout their reproductive health journeys. We cover men's health challenges, menopause support, fertility treatment and family-forming journeys for all of their employees.
Spotify
Spotify supports its employees on their family-forming journeys by offering fertility treatments coverage, adoption assistance, and flexible work arrangements. The company also provides mental health support for employees and their families.
Intel
Intel offers its employees a wide range of family-forming benefits, including fertility treatments coverage, adoption assistance, and surrogacy benefits. The company also provides flexible work arrangements and mental health resources.
Virgin Limited Edition 🏆
Virgin Ltd provides its employees with inclusive family-forming benefits for all employees regardless of sexual orientation, marital status, or gender identity through Fertifa. The company also offers menopause and men's and women's reproductive health benefits.
These companies, and many others, are stepping up to create a supportive environment for employees during their family-forming journeys. They are committed to providing inclusive and comprehensive family-forming benefits, helping employees navigate their fertility journeys, adoption processes, and parenthood with support and financial assistance. Having these benefits in place acknowledges the importance of work-life balance and the impact it has on the overall wellbeing of their workforce.
Family-forming benefits are not just a nice-to-have perk; they are a necessity in today's workplace. Companies that prioritise these benefits show their employees that they are valued not only as professionals but also as individuals with personal lives and aspirations. By offering comprehensive support, companies can help employees overcome the financial and emotional challenges that come with family planning and create a more inclusive and supportive work environment for all 💜
