NFP, a global benefits consultant and property and casualty insurance broker, recently reported that only five percent of U.S. employers offer menopause benefits to their employees. This figure increased only incrementally from last year when four percent of U.S. employers offered such benefits. NFP's survey included responses from 620 individuals responsible for creating and updating leave management policies.
Many see the slight increase as surprising and frustrating for employees who overwhelmingly request these benefits. A 2023 Bank of America report found that 64% of women in menopause are requesting support and accommodations at work. Maria Trapenasso, a senior executive at NFP, states that menopause symptoms may cost U.S. employers $1.8 million annually due to missed work and as much as $26 billion annually in lost productivity.
By 2025, NFP estimates that over one billion women will be in menopause. Therefore, employers may consider the growing economic costs of ignoring the needs of this demographic. Industry-wide, calls for menopause-related benefits have increased, as well as for more emphasis on women's health issues overall.
SHRM's 2024 Employee Benefits Survey found that 17% of employers, including Microsoft and pharmaceutical firm Sanofi, provide menopause-related support, including counseling and education. Other related benefits include hormone therapy, physical therapy for pelvic floor issues, and access to specialists in menopause care. Two percent of employers provide menopause or menstrual leave in addition to regular sick time.
The NFP survey noted other leave benefits that have become more common over the past year. Paid parental leave benefits increased, with 32% of employers offering three to six weeks of paid parental leave, up from 26% of employers last year. Additionally, 33% of employers offer three to six weeks of paid parental leave for adoptive parents, a similar increase from 26% last year.
Furthermore, paid time off (PTO) plans decreased substantially over the past year, from 72% of employers in 2023 to only 58% of employers in 2024. These figures could indicate the adoption of traditional vacation and sick leave policies to comply with various state laws.
Finally, while employers generally view leave time policies as assets for employees, 32% of employers don't think that employees have good knowledge of the policies. Close to half of employers also don't believe that leave time policies are helping them retain talented employees.
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