Business and family seem to be one of those impossible relationships, like the sun and the moon. You can’t have both at the same time, or at least, that’s what popular belief would like you to think.
In reality, decades of forcing employees and entrepreneurs to choose between their career and their family life have proven only one thing; you can’t separate one from the other. Indeed, Millennials have made the point clearly when they first joined the workforce. They don’t want to fall in the trap of the previous generations.
They want to be happy and fulfilled both in the office and at home.
And to comply with their expectations, it’s time for businesses to tap into the unexplored potential of family endorsement, support, and care in the workplace. If you’re still pondering whether or not it’s a good idea for your company to make families part of the business plan, here are 5 key reasons on why you shouldn’t delay family-strategies any longer.
Because you could end up losing talented employees
In a typical scenario, women who have a baby would prefer to stay out of work for an average of 6 months. Many try to go back to the office and continue their career progression. However, they need to find a childminder who is affordable, trustworthy and available for them to confidently focus their attention on work. More often than not, parents struggle to find someone who can look after their child, which makes it tricky to head back to work after birth.
From a business perspective, failure to help young parents cope with their new family responsibilities could cost you precious talent. Maximizing your use of IoT technology throughout the business offers a convenient alternative for parents who can work remotely and look after their children at the same time. Helping families to stay together also ensures that your remote team is more likely to be productive, especially if they can manage their working time around children requirements.
Because you need to give back to your community
If you boil things down to the basic, families do invest a lot of time and efforts in your company, even though not all members are employees. Indeed, partners provide emotional support to hard-working and stressed out employees during the most hectic of projects. Every parent would tell you; there’s no amount of stress and self-doubt that can’t be solved by the hand-drawn picture of a loving child.
Families are, ultimately, the force that keeps your team strong, focused and sane. Therefore, it’s only natural to consider quotes for relevant life insurance that can protect families in times of need. Terminal illnesses, for instance, can be distressing for your team. But knowing that the company stands behind one of them in those difficult times speaks volumes. It’s a reassuring gesture for your existing employees too.
Because without families, there’s no future
Children are the future. Indeed, populations rely on the next generation to support their seniors and maintain the economy. At its very core, a population that fails to support and encourage families is at risk of becoming a demographic time bomb where there won’t be enough people to work in the future. The US fertility rate has reached a worrying low record, namely 1.76 in 2018. The birth rate is officially below replacement level, which means that there won’t be enough children to support the aging population.
Because nobody wants to work for a company that doesn’t care
Your employees are discerning. They expect from the company to have ethical values that reflect their life choices. A company that doesn’t offer any advantages to families is likely to struggle to attract candidates or even keep talent in house. Additionally, your customers too want to support businesses that have positive values. Family-friendly policies are not just HR benefits; they build the reputation of your brand.
Ultimately, being relatable is about caring, and this starts with your staff families.
Because it’s the only way out of an economic crisis
The age of hard capitalism has long come to an end. The strategy of “me before you” doesn’t work anymore. Instead, it has encouraged the creation of a wealth economy for the few – while for many financial poverty is a reality.
Consequently, businesses have a duty to their communities; they need to help move us away from the next financial crisis. The only way forward is to put the people at the center of the market equation, by creating a business life that works for them. In a people-to-people model, there’s no doubt that families have a priority role to play to temper and influence market decisions.
Businesses have been ignoring families for too long. It is time to protect your reputation, your people and the future of the population by making families an integral part of your strategy.