As Great Resignation Escalates, Maven Clinic and Great Place to Work® Release Study on What Parents Want in the New World of Work Study of Half a Million Working Parents Reveals Key Strategies That Can Prevent 4 in 5 from Quitting
Oakland, CA
|
December 02, 2021 09:00 AM Eastern Standard Time
Great Place to Work®, the global authority on workplace culture, and Maven Clinic, the world's largest virtual clinic for women's and family health, released “Working Parents, Burnout & the Great Resignation,” a report based on the largest-ever survey of working parents. Drawing on the responses of 493,082 working parents from more than 1,700 US-headquartered companies, “Working Parents, Burnout & the Great Resignation” represents the authoritative look at what parents want in the new world of work.
The new research comes at a time when the Great Resignation has reached new depths as recent reports suggest that 65% of employees in the US are actively searching for new opportunities. With parents making up 40% of the US economy, working mothers and fathers are no exception to this trend. As parents reconsider their relationship with work, companies face growing and new pressures to win the talent war for this key part of the workforce.
“This report shows that the Great Resignation is fundamentally a crisis of recognition,” said Kate Ryder, founder and CEO of Maven. “Working parents who feel included within a company's culture and empowered in its long-term strategy are far more likely to stay with their employer. The companies that think about their employees’ experience holistically — the challenges at home, the opportunities at work — are set to leapfrog their peers in the post-pandemic economy.”
“Working parents are a key talent demographic that can help companies thrive, and business leaders who see it this way are at a powerful advantage” said Michael Bush, CEO of Great Place to Work. “Our research with Maven shows that ensuring working parents experience a great place to work for all can be achieved if employers shift their focus to the five key drivers to attract, retain and sustain working parents. Ultimately, companies that embrace strategies to ensure this talent group thrives long into the future have the potential to see 5.5 times more revenue growth.”
The Great Place to Work-Maven report offers valuable insights about what matters most to parents —personalized support, fairness and inclusivity—and provides data-driven strategies for employers to emerge as leaders of the new way of working.
Key findings from the report include:
- Burnout continues unabated, which means the resignation wave is far from over. Employees who experience burnout are more than twice as likely to resign their positions. The report finds that 4.8 million working parents are experiencing burnout as the year comes to a close.
- A holistic approach to employee wellbeing can prevent 4 out of 5 working parents from quitting. By studying the top-performing workplaces, the report identifies five key drivers of retaining and sustaining working parents, positioning this group for long-term growth.
- The Best Workplaces for Parents™ are doubling down on benefits — and seeing the results. Organizations that were perceived as offering ‘special and unique’ benefits were 2x as likely to retain parents. Three in four (75%) Best Workplaces are providing support for fertility programs and 66% offer adoption support. Many Best Workplaces are also offering benefits like egg freezing coverage (58%), subsidize child care expenses (44%), and provide surrogacy coverage (43%).
- Burnout has especially impacted mothers of color and young parents who are hourly workers, underscoring how the pandemic has exacerbated deep-seated inequities in the US. The report found that BIPOC mothers are 35% more likely to experience burnout, and younger parents between 26-34 working hourly roles are 200% more likely to experience burnout.
The report is part of a multi-year partnership between Maven and Great Place to Work and marks the second annual study released by the two companies. The launch of “Working Parents, Burnout & the Great Resignation” also coincides with the release of Great Place to Work's annual Best Workplaces for Parents™ list, celebrating the 100 companies whose support for parents has stood out over the past year.
Visit: https://www.greatplacetowork.com/best-workplaces-parents
About Maven Clinic
Maven is the largest virtual clinic for women's and family health, offering continuous, holistic care for fertility, pregnancy and parenting. Maven's award-winning digital programs are trusted by leading employers and health plans to reduce costs and drive better health outcomes for both parents and children. Founded in 2014 by CEO Kate Ryder, Maven has been recognized as Fast Company's #1 Most Innovative Health Company and has supported more than 10 million women and families to date. Maven has raised more than $200 million in funding from leading investors including Sequoia, Oak HC/FT, Dragoneer Investment Group and Lux Capital. To learn more about how Maven is reimagining life's most critical healthcare moment, visit us at mavenclinic.com.
About Great Place to Work®
Great Place to Work® is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees around the world and used those deep insights to define what makes a great workplace: trust. Great Place to Work helps organizations quantify their culture and produce better business results by creating a high-trust work experience for all employees. Everything they do is driven by the mission to build a better world by helping every organization become a Great Place to Work For All™. To learn more, visit greatplacetowork.com, listen to the podcast Better by Great Place to Work, and read A Great Place to Work For All. Join the community on LinkedIn, Twitter, and Instagram. Learn more: https://www.greatplacetowork.com
Contact Details
Kim Peters
+1 415-844-2574
