Quality benefits are becoming a more important factor in whether workers accept job positions. In fact, 66% of workers say that it is the largest determining factor when considering a job offer. Since women currently comprise nearly half of the U.S. workforce, employers are paying more attention to the benefits women care about most. In honor of Women’s Equality Day, let’s reflect on the benefits that are keeping women in the workforce:
Quality Health Insurance Options
Women appreciate health insurance options tailored to their specific needs. Plans that include contraceptive coverage, wellness programs and virtual visit services are all very important to female workers.
The number of companies offering contraceptive coverage has actually dropped from 82% in 2013 to 75% in 2017. However, this benefit continues to be one of the key factors in keeping women in the workforce.
Although contraceptive coverage may be on the decline, other benefits like infertility treatment coverage, surrogacy and adoption benefits are on the rise.
Paid Maternity Leave
Whether a woman is planning to start a family, already has, or has no intention to, solid maternity leave benefits are important. It shows that a company cares about the health and happiness of their female employees. And, according to the Society for Human Resource Management’s 2017 Employee Benefits Survey, 66% of the women who utilized their company’s paid maternity leave, used all of it.
The study also mentioned “30% of organizations currently provide paid maternity leave beyond what is covered by short-term disability or state law, an increase from 26% in 2016.” Paid maternity leave is on the rise and women are feeling happier and more fulfilled because of it.
Paid Paternity Leave
According to the SHRM Employee Benefits Survey, approximately 64% of men do not choose to use the entirety of their paid paternity leave. However, it is still an important and often overlooked benefit that women appreciate from their employers. It allows working parents to coordinate schedules and provide the best care to their newborn.
Source: SHRM 2017 Employee Benefits Survey
It is up to the organizations to determine why their workers are choosing against taking their full paid leave. Encouraging employees to utilize this benefit will help create a more fulfilling office culture and better work-life balance overall.
Flexible Work Schedules
Flexible work schedules are important to most employees, no matter their age or gender. However, it has become especially important to millennial and female workers, and many employers are adjusting their structure in order to accommodate these workers.
Similar to maternity leave, it doesn’t necessarily matter whether a woman has a family or is even planning to have one, for this type of benefit to matter. Flexible schedules, work-from-home opportunities and generous paid time off all help provide employees with the best work-life balance possible.
These types of benefits also allow working mothers to fulfill their parental duties of taking their children to school or daycare, being available for parent/teacher meetings and taking care of anything else that may come their way on any given day.
Professional Development Opportunities
Professional growth and learning opportunities play a key role in keeping women in the workforce. Many female workers have aspirations to grow within their organizations and take on leadership roles. Peer groups, one-on-one mentoring, employee development programs, professional women’s networks, and training programs customized for women are all ways organizations can create environments built for their female employees’ success.
Employers who create environments that promote these types of opportunities tend to earn more loyalty from their female staff in the long run. Not to mention, diverse leadership can help create a more hospitable environment for newer female employees.
Companies can ask their current employees what types of benefits are important to them and then do their best to address that feedback. It is important to promote gender equality across all facets of the workplace, and creating benefits packages that help keep women in the workforce is a great place to start. Contact us to learn more about the benefits your company could be offering, administration of those benefits, and how to reduce costs in the process.
Sources:
2. http://money.cnn.com/2017/09/05/pf/women-workplace-benefits/index.html
4. https://www.benefitspro.com/2018/06/26/why-are-women-dropping-out-of-the-workforce/
5. https://www.benefitspro.com/2018/06/19/employees-want-more-benefits-to-improve-work-life/
6. https://www.business.com/articles/how-to-attract-more-women-to-the-workplace/
