Benefits

U.S. Workers Continue To Seek Greater Family-Building And Mid-Life Benefits

Nearly three-quarters of employees would leave their current company for better family benefits

A new report from Ovia Health reveals more than 8 in 10 women report their perimenopausal and menopausal symptoms impact their ability to work, but only 1% of respondents receive menopausal support or benefit. Access the complete report here.

BOSTON, March 12, 2024 /PRNewswire/ — Ovia Health by Labcorp (Ovia) today released its third annual Future of Family Friendly 2024: Benefits That Matter, a comprehensive report which indicates a growing desire for greater family-friendly benefits in the workplace.

“This report indicates we are witnessing a shift in what employees seek in terms of family-friendly benefits, and they’re willing to change employers to find them,” said Jenny Carillo, Ph.D., President of Ovia. “As a leader in addressing women’s and family health and fostering a family-friendly workplace, we published ‘The Future of Family Friendly’ report to provide employers with important insights into the evolving expectations of today’s contemporary workforce, and to empower decision-makers with data to inform their benefits strategies to better meet the needs of their employees.”

Where The Gaps Are Greatest

The report reveals a significant shift in employee sentiment toward their benefits. More than six-in-ten employees (62%) report they do not consider their employer family-friendly, an increase from four in 10 in 2023. Additionally, 43% of employees give their existing benefits a grade of “C” or lower. Almost three-quarters (72%) of workers view family benefits as extremely important, and 73% would leave their current role for a lateral move to another company with better benefits.

Employees Want Longer Paid Parental Leave, Alternative Family Planning Support

Longer paid parental leave tops the list of benefits that are most important to employees. However, the report shows growing demand for a host of benefits rarely offered by employers. The disparity between available and desired benefits is particularly stark in areas such as pregnancy loss leave, where only 5% of those surveyed have access, despite 53% indicating it is a benefit they highly value. Between 10% and 20% of known pregnancies, and potentially up to 30% of all pregnancies, end in miscarriage.[1]

Similarly, while 38% of employees seek alternative family building support, very few have access to benefits for adoption (14%), surrogacy (5%) or foster parent support (7%). Additionally, over half of employees (53%) express a need for maternity care management support, yet only 7% report having those benefits.

We are witnessing a shift in what employees seek in terms of family-friendly benefits, and they're willing to change employers to find them...

Mid-Life Benefits Are In High Demand

Approximately 1.3 million women enter menopause each year. And while menopause officially marks the end of a woman’s menstrual cycles, most women begin experiencing symptoms much earlier, during perimenopause, which typically begins about eight to 10 years before menopause.

The need for better support for employees experiencing menopause or perimenopause is also a critical finding of the report. Among respondents of menopausal or perimenopausal age, 83% feel the symptoms of menopause or perimenopause impact their ability to work. Yet, a mere 1% have menopause support at work. This disparity highlights a growing need for more attention to the full continuum of women’s healthcare from employers if they wish to maintain a productive and diverse workforce that includes employees of all ages.

Supporting Women’s And Family Health Journeys

In line with these recent survey findings and in an effort to further support women’s health journeys, in 2023, Labcorp OnDemand launched its Menopause Test, which aims to help individuals understand hormonal factors related to menopause in order to take proactive steps to address symptoms and have more informed conversations with providers. Combined with Ovia Health by Labcorp’s Menopause Support Program, these tools help women navigate this life transition through diagnostic testing, resources and education.

Ovia distributed its annual survey to users who are working parents. More than 2,000 working parents responded, most of whom were between the ages of 26 and 40. The respondent pool consisted of 98% women, 1% men, and 1% non-binary.

The full report and its comprehensive findings can be viewed here.

 

 

 

About Ovia Health by Labcorp
Ovia Health by Labcorp has served more than 22 million family and parenthood journeys since 2012 and is on a mission to make a happy, healthy family possible for everyone. Ovia Health by Labcorp is the only family health solution clinically proven to effectively identify and intervene with high-risk conditions. The company’s 50+ clinical programs, including coaching and personalized care plans, help prevent unnecessary health care costs, improve health outcomes, and foster a family-friendly workplace that increases retention and return to work. For more information, visit OviaHealth.com.
[1] March of Dimes