An interesting development is on the horizon regarding new benefits for employees in the private sector workforce. Last week both Facebook and Apple announced it will be providing up to $20,000 in benefits to help employees pay for infertility treatments, sperm donors or to freeze their eggs. Facebook has stated, freezing their eggs gives women an option to focus on their career or education first.
Dr. Nicole Noyes with the New York University Fertility Center shared the number of patients freezing eggs was almost 400 in 2014 compared with just 5 in 2005. In addition to Facebook, some big banks are already providing this benefit to female employees. It is predicted that law firms will start doing this as well. Employers see this benefit as a way to attract and retain top female employees.
In the public sector, employers are doing something different to attract and retain good employees. This summer I blogged about my city, Brooklyn Park, offering paid leave for new parents. Well, now other cities are considering this as well. Recently, Mayor Coleman from the City of St. Paul announced he wants to offer four weeks of paid leave for the birthing mother and two weeks for the other parent. This policy is being introduced to the City Council for consideration and could be adopted in 2015. Mayor Coleman stated, “This policy is good for families, and it’s good for bringing the best and brightest to the City of St. Paul.”
Clearly, employers are starting to realize that just offering competitive wages and health insurance is not enough to attract and retain talented employees. It is nice to see employers trying to help employees balance work and families. Hopefully, this is the start of a new trend.