The Cost to Businesses When Employees
Experience Turbulent Home Lives
The fact is, family tension influences work stress and performance. Companies can gain an upper hand in both attracting and retaining top talent when they focus on effective employee wellness programs thereby creating a more supportive environment for working parents.
Equipping employees with the proper support and tools to navigate personal responsibilities, translates into work benefits, including employee satisfaction and productivity.
In the US, more than half of adults say that family responsibilities are a source of stress and 55% indicated they experienced work-family conflict in the past 3 months.
The estimated cost to the industry in the US, is grater than $300 Billion a year in related costs such as absenteeism and reduced productivity.
SAP's Chief Learning Officer, Jenny Dearborn, when asked about investing in paid maternity leave [as an example of how they support parents], she said, “it’s not only important for the men and women taking parental leave but goes further to increase overall employee engagement.”
“When other employees notice their colleague, their neighbor, their work shift partner is being taken care of during this critical time, that treatment affects them as well and in turn, creates an overall family-friendly culture. And that matters, not only to our culture but to the bottom line. SAP has seen that a one percent increase in the employee engagement index correlates to $75M in net operating profit.”
Jenny Dearborn, SAP
In a marketplace competing for the attention and engagement of working mothers, the importance of meeting the needs they care most about, cannot be stressed strongly enough. 43% of women in professional roles end up leaving their careers when family life becomes increasingly complex.
It’s estimated that it costs 20% or more of an employee’s salary to replace him or her
"We can't grow or face the challenges of the marketplace without women's perspectives and contributions - in fact, no business can...for Ernst &Young, women, and the talent they bring to the table are inseparable from ou success as an organization."
- Billie Williamson, Americas Inclusiveness Officer, Ernst & Young