In recent years, the corporate landscape has shifted towards more inclusive and comprehensive employee benefits. A notable and groundbreaking addition to this trend is the growing acknowledgment of menopause and the need for the workplace to offer support. The conversation gained momentum when Microsoft took the lead in recognizing the gaps in its benefits package and proactively addressed the unique needs of employees navigating menopause.
The Catalyst
A spark for change regarding better workplace support for menopausal women echoes across the U.S. and beyond. At Microsoft, the conversation was kickstarted by an internal podcast featuring a guest who openly shared her menopause journey. Sonja Kellen, Microsoft’s Senior Director of Global Health and Wellness, reflected on the company’s existing benefits – comprehensive medical coverage and flexible working arrangements – but realized they lacked a benefit specifically tailored to menopause.
The Turning Point
Recognizing the missing piece in their benefits package, Microsoft partnered with Maven Clinic, a virtual health care provider specializing in women’s health. In July, the company rolled out a comprehensive menopause support program for its global workforce. The benefits, facilitated through Maven Clinic, included the following:
- Hormone therapy
- Physical therapy for pelvic-floor issues
- Access to specialists in menopause care
- Menopause-specific paid leave
A Growing Trend
Microsoft is among a pioneering group of employers acknowledging the importance of menopause support. While still a minority, the number of companies offering menopause benefits is gradually increasing. According to a report by benefits consultant NFP, around 4% of employers with sick leave policies currently provide additional support for menopause. However, 32% expressed openness to incorporating such benefits within the next five years.
A growing understanding of the economic and personal impact of menopause drives the increase in interest. Studies estimate that menopause costs the U.S. economy $1.8 billion in lost working time annually, with an additional $26.6 billion in medical expenses. A Bank of America report revealed that 64% of working American women desire menopause-specific benefits, signaling a demand for more comprehensive workplace support.
Kate Ryder, Chief Executive Officer (CEO) of Maven Clinic, highlights the significant gap in support for menopausal employees. The virtual health care provider, working with over 300 employers, has witnessed rapid adoption of its menopause benefits suite. The suite connects workers to virtual care providers, sleep coaches, OB/GYNs, nutritionists, and other professionals trained in menopause care. Ryder emphasizes that the conversation around menopause is gaining traction and is poised to continue growing.
Inclusive Benefits
The push for menopause benefits aligns with a broader movement towards inclusivity in workplace benefits. As companies focus on fertility benefits and parental leave, there’s a realization that employees in different life stages also need tailored support. The idea is to provide services and support similar to resources available during other transformative life stages, such as pregnancy.
Success Stories
You may ask – is it worth it? Microsoft’s early success with menopause benefits underscores the unmet demand for such support. With over 1,000 activations in the first week and over 3,000 provider-member interactions within the first few months, Microsoft’s menopause support resonated with its diverse global workforce. The steady increase in employee sign-ups signifies sustained interest and utilization of the new offering.
Employers offering menopause benefits are witnessing positive impacts on workplace dynamics. Among the notable outcomes are reduced absences, enhanced productivity, and increased employee engagement. The Bank of America report indicates that 58% of women perceive positive effects on their work when menopause benefits are provided. In addition, these benefits contribute to higher retention rates, making the workplace more attractive and supportive.
Why Partner With A PEO?
The emergence of menopause benefits as a pivotal workplace perk signifies a progressive shift in how businesses prioritize the well-being of their employees across all life stages. Microsoft’s proactive stance and the increasing interest from other employers underline a commitment to fostering an inclusive and supportive work environment. For business owners, recognizing the impact of menopause on individuals and the bottom line is essential.
To navigate this evolving landscape seamlessly, consider the role of a professional employer organization (PEO) like Group Management Services (GMS). PEOs specialize in comprehensive HR solutions, ensuring that businesses can effortlessly integrate and manage benefits that address the diverse needs of their workforce. By embracing menopause benefits and leveraging PEO expertise, businesses can attract and retain top talent and cultivate a workplace culture that values every employee’s journey. Interested in learning more? Contact us today.