Work and personal lives have become more emeshed than ever before during COVID-19, and employees are desperate for benefits that help manage the stressors in their lives.
Caregiving is one key area where employees need help the most, yet paid family leave provisions were not renewed in the latest stimulus bill. That means many workers have been left with fewer protections if they have to step away from work to care for themselves or a family member.
A new survey from Prudential Financial found that workers value
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“Workers have been forced to choose between caring for themselves or a loved one who's sick or earning a paycheck,” says Jamie Kalamarides, president of Prudential Group Insurance. “We’re the only industrialized country in the world that doesn't offer a national comprehensive paid family leave program.”
Seventy-two percent of workers want policymakers to prioritize expanding paid family and medical leave, according to the Prudential survey. About 75% of workers want policymakers to collaborate with the private sector to expand access to paid family and medical leave and 80% of workers want Congress to make it easier for employers to offer these benefits to their employees.
COVID has put added pressure on employers to provide benefits and resources that help employees integrate work with their lives. Two-thirds of workers said their benefits have grown in importance since the start of the pandemic, according to the Prudential data. Additionally, 68% of employees say their employer-provided benefits allowed them to be more focused at work.
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Benefits that help employees care for loved ones or even themselves do more than just provide time off. These benefits can also play a huge role in alleviating employees’ financial stress, because they won’t have to worry about losing out on their paychecks or looking for another position if there is a paid family leave policy in place. Four in 10 workers say they are more likely now than they were a year ago to consider taking a similar job with a different company that offered better benefits.
“Workplace benefits are powerful tools for helping workers build resiliency,” Rob Falzon, vice chair of Prudential, said in a release. “Employers must recognize that benefits are integral to attracting and retaining the talent required to remain competitive over the long term.”
