As a business owner or manager, you probably know first-hand that your team is your most valuable asset. Your employees help bring your vision to life, engage with your customers, and drive your bottom line.
But have you considered how important it is to take care of your team's well-being by offering quality benefits? In today's competitive market, employees have more options than ever before, and they're looking for more than just a paycheck. They want to work for a company that values them as individuals and invests in their success.
As an employer, you might be struggling to find the balance between what the current workforce wants, and managing budgets so you’re able to provide those desired benefits — and that's no easy task. But that’s why we’re here to help.
Traditional paid-time-off, vacation, and health insurance benefits are no longer enough to attract and retain top talent in today's competitive workforce environment. Sabbaticals, parental leave, and fertility benefits are no longer just "nice-to-haves." These and other perks are now considered "must-have" benefits.
Fertility services in particular have become a top-ranked perk for employees. These services may range from IVF treatment, elective egg freezing for future family planning, surrogacy, adoption support, reimbursement allowances, and more. For small- and medium-sized businesses, it can be challenging to offer these benefits and stay profitable. However, making the effort can do a lot to show your team that you care.
In our increasingly diverse world, fertility benefits refer to the support offered to help build a family, regardless of an employee's gender, sexual orientation, age, medical condition, or whether they are single or partnered.
Unfortunately, many fertility procedures can be cost-prohibitive. Data shows that infertility is common, but also quite expensive to address. Reproductive treatments can cost upwards of $40,000 and are typically not covered by standard insurance plans. And considering the fact that infertility impacts all bodies, and 1 in 8 married heterosexual couples struggle to conceive, these costs can add up quickly for those who need fertility services.
Recognizing the desire for fertility coverage can give employers an advantage with potential candidates and show your corporate values. After all, financial and emotional support for family planning is tied to the successful attraction and retention of employees. And offering fertility benefits isn't just doing right by your people — it makes business sense, too.
Here's how adding fertility coverage to your benefits offering gives you an edge:
1. Builds employee loyalty
Today's employees expect more from their health benefits. For example, nearly 70% of millennials said they would change jobs to ensure they have fertility coverage.
And the demand for fertility benefits isn't going to disappear as more people put off parenthood until their thirties. Businesses that offer fertility coverage can transform into a more attractive workplace that keeps top talent from looking elsewhere.
These types of family benefits help build employee loyalty. In fact, data reveals that people are more likely to recommend working for their employer if they offer fertility benefits. And 61% of employees reported increased loyalty to their employer after receiving fertility benefits. Those numbers are pretty promising.
2. Promotes an inclusive workplace
Successful companies are increasingly looking for ways to create a more inclusive workplace. A first step? Consider the fact that every family has a unique path to parenthood. Fertility and family planning that supports multiple paths to parenthood can be incredibly helpful, especially for single parents and LGBTQ+ employees.
Studies show that 63% of people in the LGBTQ+ community expect to engage in assisted reproductive technology, foster care, or adoption to become parents. Stats like this show just how essential inclusivity is when considering what benefits to offer.
3. Supports employee mental health
Few life challenges create more stress than infertility. Studies even show that those navigating infertility suffer from adverse mental health outcomes. Supporting employees with fertility-related counseling resources and easy access to fertility care options creates an environment that promotes positive mental health practices.
4. Improves employees' financial health
Did you know there’s a link between wellness and personal finances that affect workers' productivity, absenteeism, and overall health? With the high cost of fertility care, it’s no surprise that employees pursuing alternative paths to parenthood often experience financial strain. This is just one more reason for employers to consider offering fertility benefits.
Despite all of the above benefits, as well as increasing trends, there’s still a gap with small businesses not offering fertility benefits. According to Mercer, only 2% of small businesses use a specialty company to administer fertility benefits.
As a growing business, the lack of fertility and family planning coverage can put your organization at a considerable disadvantage when making a job offer or retaining high-quality personnel. But that’s where we come in.
Offering fertility benefits can be challenging for smaller organizations. That's where a Professional Employer Organization (PEO) like Justworks can help.
Justworks now proudly partners with Kindbody, a new generation of health and family-building care. With Kindbody, you and your employees can expect:
Modern clinics with the latest technology
Doctors and staff who will listen to an employee's concerns and work closely to help find viable choices
An online patient portal for easy access to medical records, simple scheduling, and easy communication with an experienced, well-trained care team
Medical professionals at Kindbody also provide the highest-quality fertility clinic network and family-building benefits, including:
Fertility assessments and education
Fertility preservation
Genetic testing
Egg and embryo freezing
In vitro fertilization (IVF)
Donor egg and donor sperm
Family planning through adoption, and donor and surrogacy services
Kindbody goes beyond the basics, too. Unlike some other companies in this category, Kindbody offers exceptional and unique features like:
Gynecology services, including annual check-ups
Both in-person and virtual appointments and services
A dedicated Care Navigation Team for around-the-clock questions
Educational material, events, and support groups
Kindbody 360 coaching sessions for one-on-one support with a specialist on wellness topics like meditation, mental health, nutrition, doula support, lactation guidance, sleep training, and more
More competitive rates on services
In other words, Kindbody offers a full spectrum of support, information, and services to meet your employees' needs.
Kindbody also offers culturally competent care, regardless of sex, gender, sexual orientation, or relationship status. Fifty percent of their doctors also identify as BIPOC, so employees can feel confident they’ll feel heard and understood. Why is this important? Employees value a mixed culture workforce, and diversity, equity, and inclusion are now crucial for hiring. Almost half (49%) of candidates ask about diversity and inclusion initiatives within a company before accepting a job offer. As an employer, fertility benefits can help you deliver on your diversity, equity, inclusion, and belonging (DEIB) initiatives and create a workspace that supports all employees.
Justworks customers (and their adult dependents) that are actively enrolled in a medical plan through Justworks PEO are eligible for Kindbody, excluding Kaiser. And as an employer, you won't pay anything additional when offering Kindbody to your team! Your employees can enjoy this offering simply because you’re a Justworks customer. Plus, because Kindbody is a direct care provider, they can offer lower prices than the norm.
When it comes to searching for a place to work, employees have more power than ever before to find an employer that meets their needs and aligns with their values. Fertility benefits are no longer just a perk — they’re critical to your team’s wellbeing.
By offering Kindbody benefits through Justworks, your small or medium-sized business can better compete with big industry players to attract and retain talent. You'll be able to offer your team best-in-class care as they tackle major life milestones like ongoing health, fertility, pregnancy, adoption, or returning to work after becoming a parent.
In addition to Kindbody’s fertility services, Justworks customers can also access other desirable health and wellness perks, including:
Trusted health insurance carriers with plan optionality
Flexible vision, dental, short-term disability, and life insurance plan options via Aetna and MetLife
On-demand urgent care services through One Medical
Mental health resources via Talkspace's teletherapy services and Health Advocate's employee assistance program (EAP)
Our partnership with Kindbody serves to expand your benefit suite with gynecology, fertility, and family-building services that improve health outcomes, decreases costs, promotes DEIB, and attracts and retains talent.
Whether your team is remote, in-person, or a hybrid of both, your employees and their dependents can access Kindbody wherever they are. With both in-person clinics and convenient virtual services, there are options for everyone.
Pair Kindbody’s services with Justworks’ simple software and expert support for payroll, employee benefits, HR services, and compliance, and you’ll have what you need to run and grow your business with confidence.
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