Family-friendly policies increase employee engagement – a strategy to improve your Key Performance Indicators (KPIs)!
Providing employees with support for issues that affect their well-being can lead to increased productivity and engagement. An Employee Assistance Program (EAP) is a voluntary, work-based program that offers free and confidential assessments, short-term counseling, referrals, and follow-up services to employees who have personal and/or work-related problems. Learn more here.
A Flexible Spending Account (FSA) is a special account where employees can set-aside up to $3,050 annually in pre-tax dollars to reimburse for health related expenses. Employers benefit from the savings associated with not being required to pay FICA or FUTA on pre-tax dollars. Learn more here.
Dependent Care Assistance Plans (DCAPs) enable employees to set-aside up to $5,000 annually in pre-tax dollars to be used to reimburse child care expenses. Employers benefit from the savings associated with not being required to pay FICA or FUTA on pre-tax dollars. Learn more here.
Job flexibility increases engagement. The U.S. Census Bureau Household Pulse Survey conducted between April 26 – May 8, 2023 found that more than one-third (36.7%) of New Jersey parents are working either entirely remotely or in some type of hybrid manner. Gallup polling shows that highly engaged workplaces claim 41% lower absenteeism and 21% higher profitability.
A May 2021 Bipartisan Policy Center survey of parents with children under age 6 found that 29% of parents had 2 weeks or less advance notice of their work schedule. When parents have sufficient notice or a set schedule, it makes balancing work and family easier, including scheduling child care for times when they need it.
Multiple surveys show that workers would leave a job for one that offers a flexible schedule. Offering flexible schedules can be a recruitment and retention tool for employers as well as a strategy to increase engagement, which leads to lower absenteeism and higher profitability.