Now, at a time when companies will do just about anything to recruit and retain workers, fertility benefits have gone from novelty to a must-have for many companies.
Companies are finding that fertility benefits are increasingly popular among female employees — particularly those between the ages of 25 and 40. The benefit is also important for couples with a diagnosis of infertility, same-sex couples and single individuals, as well as those who have been unable to conceive naturally or are starting families later in life.Photo by Getty Images/iStockphoto
But US$25,000 can run out quickly. Three IVF cycles, for example, are the most clinically effective approach for women under 40, according to some studies. Patients can also experience added costs, including egg or embryo storage and medications needed for IVF.Survey data from workforce consultant Mercer showed that as late as 2015, just under a quarter of large employers covered IVF. But in 2020, the figure rose to 27 per cent. And last year, it jumped to 36 per cent.
“This has been a huge part of our attraction campaign,” said Aja Harbert, human resources director at B Capital Group, a Los Angeles venture capital firm that started offering a fertility benefit through Carrot in 2021. She said it helped convince four candidates to accept job offers. “It kind of pushed them over the edge when they had competing offers,” she said.Increased employer investment in fertility benefits has also helped vendors offer a more holistic approach to family planning.