It’s an undeniable fact that as employees become choosier about who appears on their CV, employee retention and staff benefits are becoming, quite rightly, increasingly important
No longer is it just about competition between prospective employees – the competition is just as fierce between prospective employers.
This is the reason behind the fact that fertility and family rights are now becoming a right for employees
This extends far further than the laws that now protect employees for maternity and paternity leave. Now, the best workplaces are including access to funds to cover infertility treatments, assisted fertility procedures, egg freezing, egg and sperm donation, surrogacy and adoption.
Employees are now choosing job offers based on much more than simply salary – perks are up there at the top, with fertility cover top of the wish list for many.
Virgin Group is now the latest company to add such benefits – their 300 staff now have access to financial help for IVF and other assisted fertility procedures.
Among these new employee benefits, staff can also benefit from reduced costs on treatments from preferred medical clinics. The average cycle of IVF costs around £4,500 and has roughly a 1 in 3 chance of being successful. These costs can spiral, and having financial help from an employer can be the difference between having the treatment, or not.
Thousands of individuals and couples, including those from the LGBTQ+ community will experience the need for fertility help
A spokesperson for Virgin Group said that adding the employee benefit was “a natural step for us”.
In 2021, companies including NatWest, Centrica, Clifford Chance and Cooley all began offering fertility treatment benefits. They all offer up to £45,000 towards medical bills.
The same story is echoed around the world with large US companies such as Hootsuite, Apple and Facebook all funding assisted fertility treatments
According to a survey conducted by the charity, Fertility Network, more than a third of people consider leaving their job when faced with going through IVF.
As a company, can you afford to be losing staff because you’re not offering the package of benefits?
If you’re looking to increase your employee benefits to include fertility cover to join this growing list of companies, get in touch with us at Babble Health to find out how we can help you.