U.S. employers embrace flexibility, explore menopause benefits: SHRM survey
VIRGINIA, UNITED STATES — Employers in the United States have shown strong support for flexible work arrangements and healthcare benefits, according to a recent survey conducted by the Society for Human Resource Management (SHRM).
The annual Employee Benefits Survey was conducted online from January 18 to March 5, 2024, among 4,529 respondents in the U.S. For the first time, it included questions about menopause benefits.
Flexible work remains popular among employers
The SHRM survey revealed that 63% of employers offer hybrid work models, with 70% of respondents considering flexible work either “very” or “extremely” important.
This is in contrast with Resume Builder’s recent survey, which found that 1 in 4 companies plan to increase the number of days employees must spend in the office despite a significant loss of talent related to return-to-office (RTO) mandates.
Meanwhile, Summer Fridays, once a coveted workplace perk that allowed employees to leave early or take the day off during summer months, are becoming increasingly rare due to the rise of remote and hybrid work models.
However, there has been a slight decline in the number of employers offering subsidies for at-home work equipment, dropping from 62% in 2022 to 56% this year.
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Menopause benefits gain traction
For the first time, SHRM included questions about menopause benefits in its survey.
The results showed that 17% of employers now provide support for menopause, such as counseling and education. However, only 2% offered menopause-specific leave outside of regular sick leave policies.
A 2023 Mayo Clinic study estimated that menopause symptoms cost approximately $1.8 billion in lost work time annually.
With women aged 45 to 54 making up about 9.3% of the U.S. workforce, addressing menopause-related needs is becoming increasingly relevant for employers.
Healthcare benefits and paid time off trends
The SHRM survey also highlighted the continued importance of healthcare benefits, with 88% of respondents considering them either “very” or “extremely” important.
82% of employers offered preferred provider organization (PPO) plans, while 63% provided high-deductible health plans (HDHPs).
Regarding paid time off (PTO), the survey found that employers offered an average of 20 days of PTO, 12 days of paid vacation, and 10 paid sick days annually. PTO discussions come in the wake of ‘hush-cations‘ and ‘sabbaticals‘ trends.
Meanwhile, the percentage of employers offering paid parental leave remained steady at 40%.
“The heightened emphasis on health care, flexible work options, and the emerging discourse on menopause-related benefits underscores the need for employers to meet the diverse needs of their workforce,” said Alex Alonso, SHRM’s Chief Data & Insights Officer.
“By leveraging these insights, leaders can cultivate a more inclusive environment that values and supports every employee.”
