Flickr | Author: tec_estromberg | Creative Commons 2.0
Looking back on 2016, there’s a clear trend toward providing more support for working caregivers. This year will see a huge wave of more family-friendly benefits as competition ramps up to attract and retain employees.
Progressive Companies Offer Generous Leave, Progressive Cities Require It
Tech companies have long been on the front of offering generous leave policies to new parents. Innovative giant Google started offering lengthy paid leave as far back as 2007 and Netflix made headlines in 2015 by offering one full year of paid leave.
In 2016, Deloitte made headlines when they offered 16 weeks of paid leave to both men and women for reasons including caring for a sick spouse or aging loved one. Major banking firms Wells Fargo, Bank of America, and JP Morgan Chase extended up to 16 weeks of paid leave to all full and part-time employees. Furniture maker IKEA is also granting 4 months of leave to all employees - a first for retail.
Public policy is beginning to catch up. In the final months of 2016, Washington D.C. passed a new law providing 2 months of fully paid leave for new parents and up to six weeks for employees to care for a sick or aging relative. New parents in San Francisco will also get up to six weeks of fully paid leave under a new law passed in late December.
Paid Leave Is Great, But More Can Be Done
The message is clear: benefits for family caregivers are important, not only for their wellbeing, but your company’s as well. Not every company can afford the generous leave policies that have become increasingly common in the tech and financial industries, but there are other cost-effective options.
One of the biggest benefits trends continues to be non-traditional voluntary benefits offerings. Allowing employees to customize their benefits package to their needs, everything from identity theft to pet insurance, help employers stand out and differentiate themselves from the competition. Voluntary benefits are how companies can offer more family friendly benefits at a low cost.
How Envoy Can Help: Making Envoy Family Concierge memberships available as a voluntary benefit option to employees is a great way to support a diverse workforce - potentially at no cost/no buget impact to employers. Everyone from new parents to those caring for an aging or sick loved one can benefit from getting a little help with everything from accompanied rides for doctors appointments to keeping the home tidy.
For more on 2017 trends, check out 6 Nontraditional Voluntary Benefits Trends to Watch in 2017 from Employee Benefit News.