Offering family-focused benefits is one of the best ways employers can support their employees. Not only does it give you a competitive edge when looking to attract and retain talent, but it also shows your employees that you care about them and respect that they have other responsibilities outside of work.
In honor of American Family Day, here are some benefits to consider when building a plan that best supports the needs of your employees and their families.
Flexible work schedules
Offering a flexible work schedule or giving your employees the option to work remotely can benefit new parents or caregivers. This helps employees care for children or family members without having to use their PTO. For example, caregivers can breathe easier knowing they don’t have to choose between working on an important presentation or their attending child’s school award ceremony since flexible work hours would allow for both.
Caregiving benefits
Research shows that more than one in six working Americans help care for an elderly or disabled family member or relative. Offering caregiving benefits like flexible work schedules, discounted in-home care services, dependent care accounts or disability insurance coverage is a great way to alleviate some of the stress and financial burden that comes with caring for a loved one. It can also eliminate that stress from spilling over into the workplace and reduce employee tardiness or absences.
Fertility coverage
Did you know one in eight couples experience infertility in the U.S.? When an employee is going through something like this, the support of their employer can make a huge difference. Fertility coverage supports nontraditional families and those who cannot otherwise have children. While fertility coverage can ease the financial burden of such treatments, it can also increase productivity and create a more positive work environment.
Paid family leave
Only a small percentage of private-sector employers offer a formal paid leave. In fact, only 20 percent of private-sector workers had access to paid family leave in 2020 to care for a new child or a family member.
Employers should consider offering more than basic maternity leave to address the different roles employees are responsible for within their families. Some options to offer include plans for:
- Paternity
- Adoption leave
- Medical leave
- Family leave to care for an elderly or disabled family member
Dependent Care FSAs
Dependent care plans give employees the option to use pre-tax dollars to pay for eligible dependent care expenses such as:
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Daycare
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Day-camp
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Home care
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Nursing aides
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Nanny services
These accounts are an excellent way for employees to save money on the expenses they are undertaking and ensure that all costs are accounted for through either reimbursements or the use of a dedicated debit card.
Help your employees care for their people
Helping your employees feel comfortable and secure with their responsibilities outside of work should be the main goal when offering benefits.
Clarity has the tools to help make DCAs simpler and more accessible for your employees. Visit our dependent care page to learn more about benefits that make life better for caregivers, for now and in the future.
Sources:
https://www.benefitnews.com/list/7-ways-employers-can-support-employee-caregivers
https://www.fsafeds.com/explore/dcfsa/expenses
https://www.businessnewsdaily.com/9635-family-friendly-policies.html
https://www.caregiver.org/resource/caregiver-statistics-work-and-caregiving/
https://www.benefitnews.com/news/employees-seek-open-conversations-fertility-benefits-from-employers
