November 11, 2022

The Family Benefits Bundle

Employers can play a key role in retaining and supporting the well-being of employees with parenting and caregiving responsibilities, and bringing those who left the workforce back, by offering needed, inclusive benefits that support the diverse experiences of employees and their families.

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Employee well-being (84%) and productivity (73%) are large employers’ top priorities for supporting working parents. During the pandemic, 94% of large employers indicated they were actively working with vendors to create support programs for employees with parental and caregiving responsibilities.¹ These benefits and supports have become best-in-class in creating an attractive, caring employer brand, and many will outlast the pandemic. According to Ovia Health’s recent survey, remote or hybrid work (86%) and childcare assistance (77%) were top benefits parents want. This section shares best practices and opportunities for childcare and school assistance, as well as social support and family-friendly benefits.

Childcare and School Assistance

Even before the pandemic access to high-quality childcare, affordability and schedule conflicts posed substantial barriers for many employees. A couple with two young children spends over 25% of their income on childcare in Australia, Ireland, Japan, New Zealand, Slovak Republic, Switzerland, the U.K. and the U.S., making it no surprise that childcare subsidies/discounts and backup care are valued benefits for employees.² Large employers compassionately and creatively acted to support working parents when many schools operated remotely during the pandemic and continued childcare support will be key to allowing many women to return to the workplace and the workforce. In fact, 42% of large employers addressed childcare as part their overall health and well-being strategy in 2021, another 8% plan to in 2022, and 12% are considering doing so for 2023/2024.

Table 4.1: Supportive Childcare Benefits

Sources: 2021 Family Benefits Quick Survey, 12th Annual Employer-Sponsored Health & Well-being Survey, 2021 Large Employers’ Leave Strategy and Transformation Survey, 2020 Supporting Employees with School-Aged Children During the Pandemic Quick Survey, 2018 Parental Benefits, Supports & Perks Quick Survey, 2017 Employer Efforts to Support Working Parents, Caregiving and Family Support Survey

Global Childcare Supports

The 2020 Raising a Family Index identifies the best and the worst OECD (Organization for Economic Cooperation and Development) countries for raising a child. Below are the top- and bottom-ranked countries for cost (e.g., childcare costs, private spending on education, purchasing power), health (e.g., maternal and child mortality, life expectancy, family planning), education (e.g., reading/math performance, enrollment), and time (e.g., hours worked, paid leaves).

Table 4.2: Top- and Bottom-ranked Countries for Raising a Child

Social Support and Family-Friendly Perks

Today’s companies are making life for new parents better by cultivating a parent-friendly workplace culture and offering innovative perks. Fifty-nine percent of new parents indicated a Parents Employee Resource Group was a top benefit, and nearly half (47%) said opportunities to connect with others about family health would be helpful, according to Ovia Health’s The Future of Family Friendly Benefits survey. Similar benefits, some costly and others inexpensive, help employees manage their responsibilities at work and at home.

Table 4.3: Benefits Geared to Working Parents

Common (and Sometimes Required) Global Perks for Employees

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Articles & Guides Family and Caregiving Global Benefits Management Voluntary Benefits