In part one of this two-part blog series, we went over some basics on fertility benefits, plus some of the initial steps for setting these up if you choose to offer them to employees of your business. Fertility benefits, which can be applied to employees of any gender, are becoming increasingly popular for employers to provide to their staffs.
At Nielsen Benefits Group, we’re happy to offer numerous employee benefits services to businesses around Sandy, including everything from strategic benefits assessment to employee health management, culture transformation and much more. Today’s part two of our series will look at some of the chief benefits of offering fertility benefits as an employer, plus what to think about within each of these areas.
Cost Savings to Both Employers and Employees
One of the largest advantages of offering fertility benefits is the cost savings to both employers and their employees. Fertility treatments are often expensive, so by having an employer-sponsored fertility benefit plan in place, individuals can save money. Additionally, employers may save money on overhead costs associated with managing infertility treatments and other related services.
For instance, if an employee is diagnosed with infertility and needs fertility treatments, they will likely save money on their medical bills by having their employer pay for part or all of the treatment. This can result in significant savings for both the employee and the employer.
Increased Employee Satisfaction
Offering fertility benefits to employees also results in increased employee satisfaction. Studies have shown that providing fertility benefits to employees can lead to higher levels of job satisfaction and improved workplace morale. Additionally, offering fertility benefits is a great way for employers to show their commitment to helping employees achieve their goals, which can have positive implications on employee retention and recruitment efforts.
Finally, providing fertility benefits can also be a great way to attract more talented employees, as they may be more likely to consider employers that offer fertility benefits. This can help employers stay competitive in an increasingly tight job market and ensure they are hiring the best people for their open positions.
Bridging the Inequality Gaps in Fertility Treatment
Sadly, not all individuals have access to the same level of fertility treatment. Many people from marginalized groups or communities, such as people of color and LGBTQ+ individuals, are not able to access the same resources as their wealthier counterparts. Providing fertility benefits is a great way to bridge this gap and ensure that everyone has access to the treatments they need in order to have a family.
By offering fertility benefits, employers can also show their commitment to diversity, inclusion, and equity in the workplace. This can result in increased employee morale and productivity, better recruitment efforts, and improved public perception of the employer.
Fertility benefits are an excellent way for employers to show their commitment to employees’ health and wellbeing. They can also have a positive impact on costs, employee satisfaction, retention and recruitment efforts, as well as bridge inequality gaps in fertility treatment.
If you’re considering offering fertility benefits to your employees, be sure to speak with a qualified professional at Nielsen Benefits Group for more information on how we can help you get started – or about any of our other employee insurance solutions. Contact us today!