Retention strategy: More than 60% of employers plan to expand their family health benefits

Employers must follow the PUMP Act and Pregnant Workers Fairness Act. But it may take offering family health benefits – and going beyond what’s legally required – in order to stand out in a competitive hiring market.

This includes paid parental leave and care leave, caregiver support, fertility and family building support, and reproductive health support, including menopause.

In the HRMorning podcast “Voices of HR,” Kate Muzzatti, the chief people officer at Maven Clinic, shared some stats from the organization’s “State of Fertility & Family Benefits in 2023” survey, that revealed what’s on the minds of employees and benefits decision-makers:

• Even in the midst of budget cutting in a tightening economic environment, 63% of employers plan to increase their family health benefits investments in the next two to three years
• 87% of employers say that family health benefits are extremely important to both prospective and current employees
• 41% of employees feel their employers could better support their reproductive health needs, and
• 64% of employees have missed work over the past year due to family-related needs.

“It’s really clear that fertility and family benefits have become table stakes, the minimum entry point. And the shift we’re seeing now is around maximizing the value of employer investment,” said Muzzatti. “Companies that do not offer comprehensive benefits that are equitable based on … family packaging may risk losing employees over time.”

Family health benefits as a retention tool

In an episode titled “Supporting Working Women & Families: The Impact of Expanding Your Comprehensive Health Benefits,” Muzzatti noted that offering family health benefits in the workplace isn’t solely for attracting and retaining female employees. Maven Clinic user data indicates that men are becoming more involved in family planning and childcare, she said.

“You’re going to find candidates who are asking really detailed questions about … benefit packages as part of their offer stage, especially [if] they’re weighing competing offers,” Muzzatti said.

It’s up to HR pros like you to survey and identify which family health benefits are most relevant to your workforce and where the gaps are in desired coverage.

“While there are limitations, the top couple of things that you really want to think about investing in are parenting and pediatric support. … [in addition to] maternity and postpartum care and really setting up the journey to get to having a child in the right way,” she said.