According to the US Centers for Disease Control and Prevention, fertility rates are at an all time low. The US fertility rate fell 2% between 2017 and 2018 in women of childbearing age. This is now the lowest it has been for three decades.
These figures are in keeping with a report released earlier this year by the National Center for Health Statistics. They stated that the US fertility rate continues to fall below what is needed for the population to replace itself.
This is a problem. Nations need a strong supply of young people to support national growth and industry. This cycle pays for all the social welfare, including pensions, and the physical infrastructure of the nation.
Without enough young people, a nation reaches economic crisis within a two decades. This problem must be addressed NOW!
What are employers doing about it?
Many employers are pro-actively evaluating and prioritizing fertility and pregnancy-related benefits. They are aware that these employee benefits are an investment in their own future as an organisation.
A 2017 survey by global risk management company, Willis Towers Watson, reported that:
* 66% of employers intend to offer fertility benefits by 2019, up from 55% in 2018
* 81% of employers that offer fertility benefits expect to extend them to same-sex couples in 2019
Companies cite the following factors that are driving enhancement of fertility benefits:
- Supporting the organisation’s diversity and inclusion objectives
- Recruitment and retention of talent
- Achieving industry recognition
- Aligning with corporate strategy/mission
Of these, probably the most important is recruitment and retention of talent. This ensures companies retain their future competitive edge. This is because employees have the option of moving to new employers that offer better packages if they are not satisfied with their current situation!
These benefits can reduce costs for employers in the long term
Fertility benefits reap the benefit of strong employee loyalty. This then drives meaningful improvements in employee retention, which ultimately helping to reduce employer costs.
A 2017 survey carried out by RESOLVE – the US fertility charity found if fertility benefits are offered:
- Employees have a higher rate of satisfaction with their employer
- 4 times more employees believe their employer is meeting the needs of today’s families
- 5 times more employees think their employer listens to their needs
- 5 times more believe their employer cares about their well-being.
In today’s healthier economy employers are doing well! Therefore employees facing infertility expect employers to offer a fertility benefit.
This is not a one-way street; surveys and studies show offering a fertility benefit:
- Makes companies more competitive
- Increases their ability to attract and retain the best employees
- Enhances employee morale and productivity
- Improves health outcomes.
- US Employers who offer these benefits are contributing to the overall sustainability of the nation in the face of falling fertility rates!
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