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Yahoo
a day ago
- Business
- Yahoo
Employers without paid caregiving leave risk losing talent, Prudential says
This story was originally published on HR Dive. To receive daily news and insights, subscribe to our free daily HR Dive newsletter. As more workers of all generations take on caregiving responsibilities, employers could risk losing their top talent if they don't offer paid caregiving benefits, according to a June 23 report from Prudential Financial. In a survey, employees pointed to paid caregiving leave as a top benefit, yet only 52% of employers offer this type of paid time off. 'Caregiving isn't a niche issue — it's a workplace reality,' said Michael Estep, president of Prudential Group Insurance. 'Employees across every demographic are asking for paid leave, and employers who don't respond risk losing talent.' In surveys of nearly 3,000 full-time employees and 750 employers in the U.S., employers most often offered paid leave programs for parental (89%), military (55%), caregiving (52%) and pregnancy loss (51%) reasons. Although 63% of employers said they offer employer-paid leave programs, a third of employees said they needed to take a family or medical leave for at least four days but didn't. They cited barriers such as affordability, stigma, career advancement concerns and worries about passing on the workload to their co-workers. Employers noted hesitations, too. While 69% said they recognize the positive impact of paid leave on business outcomes, they expressed concerns about policy abuse and said unpaid leave or short-term disability should meet employees' needs. In the report, employees said they wanted to better understand their paid leave programs, and employers said they wanted better guidance on how to navigate state leave laws. Companies can address these concerns by listening to employee needs, explaining benefits with consistent and clear communication and consulting with brokers to address employee needs with state laws in mind, Prudential found. 'Embracing paid leave as an essential benefit that supports the well-being of caregivers in the workplace can be a powerful strategy to attract and retain talented workers, while also supporting them in ways that can boost satisfaction, loyalty and performance,' Estep said. Half of moms in the 'sandwich generation,' who support both children and adult dependents, say they've left a job due to their caregiving responsibilities, according to a report from Motherly and the University of Phoenix Career Institute. Two-thirds also said their employer's benefits don't meet the needs of their adult caregiving responsibilities, and 68% said the same about child care. As parental leave becomes more commonplace, more companies may look to improve their overall caregiving leave options, an absence and leave expert told HR Dive. Flexible work arrangements, in particular, could meet the needs of the sandwich generation, he said. Recommended Reading With ambition changing, only 3 in 10 workers aspire to C-suite roles
Yahoo
19-05-2025
- Business
- Yahoo
Employees struggle financially making it paycheck to paycheck, while employers fall short in meeting expectations for support
New Prudential Benefits & Beyond study reveals everyday financial stresses as top employee concerns, yet only about one-third of employers believe their workplace benefits ease daily money pressures, focusing instead on retirement benefits NEWARK, N.J., May 12, 2025--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) released today its annual Benefits & Beyond study that reveals day-to-day financial stress is a leading concern for employees. Employees are raising their expectations for robust workplace benefits and believe their employers should play a larger role in helping them alleviate that stress. Employers agree, yet many aren't keeping up with those demands, instead focusing more on longer-term financial support. Key findings from the first installment of Prudential's 2025 Benefits & Beyond study, "New Workforce Expectations: How evolving needs are reshaping the workplace," include: Many employers recognize that workplace benefits aren't adequately addressing employees' day-to-day stress. While 75% of employers believe their benefits help with retirement savings, only 35% believe they help with immediate financial stresses like everyday expenses. Employees' top challenges are saving for retirement (45%), cost of everyday goods (44%), cost of housing (29%) and making it paycheck to paycheck (26%). The study's findings are clear: When it comes to workplace benefits, there is a disconnect on what companies offer and what employees actually need — now and in the future. The study finds that 86% of employers think their benefits are modern, while only 59% of employees agree. With a backdrop of economic uncertainty, shifting expectations and evolving social norms, today's employees expect holistic support from employers to help solve the challenges they face. They seek modern benefits that offer flexibility and financial support, and prioritize their overall well-being, according to Michael Estep, president of Prudential Group Insurance. Beyond pay, employees want their employers to provide modern benefits that reflect the real needs people are facing today. That includes benefits that help people balance their personal lives and address what happens outside of work, with employees considering flexible benefits like a four-day workweek (41%) and "pawternity" leave (23%) as optimal. "Employees want benefits that go beyond traditional coverage and more completely address how they live and work," said Estep. "The workplace is at a tipping point, and there's so much at stake for employers. When benefits are aligned with your company's values and workforce needs, they become a powerful driver of culture, business performance and long-term growth." The study shows there's a gap between employers' perceptions and the reality of how employees view modern benefits. While almost all employers (97%) say well-being is a priority, only 7 out of 10 employees (69%) agree their employers feel this way. The research identifies opportunities for employers to help solve employee challenges, including retirement savings, making it paycheck to paycheck, job security and flexible work arrangements. "Effective communication and awareness are needed to better demonstrate commitment to employee well-being and highlight how benefits can meet each person's unique needs," Estep added. Click here to view and download the study. The research was conducted with 2,946 full-time employees and 750 employers in the U.S. via national online surveys in January and February 2025. Visit for more information on Prudential Group Insurance's portfolio of workplace benefits, absence management and risk mitigation solutions. ABOUT PRUDENTIAL Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of Dec. 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information, please visit Prudential Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability, and corporate and trust-owned life insurance in the U.S. to institutional clients primarily for use within employee and membership benefits plans. The business also sells critical illness, accidental death and dismemberment, and other ancillary coverages. In addition, the business provides plan administrative services in connection with its insurance coverages, and administrative services for employee-paid and unpaid leave including FMLA, ADA and PFL. 1086500-00001-00 View source version on Contacts MEDIA Marisa Amador 973-802-8969 Sign in to access your portfolio
Business Wire
12-05-2025
- Business
- Business Wire
Employees struggle financially making it paycheck to paycheck, while employers fall short in meeting expectations for support
NEWARK, N.J.--(BUSINESS WIRE)--Prudential Financial, Inc. (NYSE: PRU) released today its annual Benefits & Beyond study that reveals day-to-day financial stress is a leading concern for employees. Employees are raising their expectations for robust workplace benefits and believe their employers should play a larger role in helping them alleviate that stress. Employers agree, yet many aren't keeping up with those demands, instead focusing more on longer-term financial support. "When benefits are aligned with your company's values and workforce needs, they become a powerful driver of culture, business performance and long-term growth.' Share Key findings from the first installment of Prudential's 2025 Benefits & Beyond study, ' New Workforce Expectations: How evolving needs are reshaping the workplace,' include: Many employers recognize that workplace benefits aren't adequately addressing employees' day-to-day stress. While 75% of employers believe their benefits help with retirement savings, only 35% believe they help with immediate financial stresses like everyday expenses. Employees' top challenges are saving for retirement (45%), cost of everyday goods (44%), cost of housing (29%) and making it paycheck to paycheck (26%). The study's findings are clear: When it comes to workplace benefits, there is a disconnect on what companies offer and what employees actually need — now and in the future. The study finds that 86% of employers think their benefits are modern, while only 59% of employees agree. With a backdrop of economic uncertainty, shifting expectations and evolving social norms, today's employees expect holistic support from employers to help solve the challenges they face. They seek modern benefits that offer flexibility and financial support, and prioritize their overall well-being, according to Michael Estep, president of Prudential Group Insurance. Beyond pay, employees want their employers to provide modern benefits that reflect the real needs people are facing today. That includes benefits that help people balance their personal lives and address what happens outside of work, with employees considering flexible benefits like a four-day workweek (41%) and 'pawternity' leave (23%) as optimal. 'Employees want benefits that go beyond traditional coverage and more completely address how they live and work,' said Estep. 'The workplace is at a tipping point, and there's so much at stake for employers. When benefits are aligned with your company's values and workforce needs, they become a powerful driver of culture, business performance and long-term growth.' The study shows there's a gap between employers' perceptions and the reality of how employees view modern benefits. While almost all employers (97%) say well-being is a priority, only 7 out of 10 employees (69%) agree their employers feel this way. The research identifies opportunities for employers to help solve employee challenges, including retirement savings, making it paycheck to paycheck, job security and flexible work arrangements. 'Effective communication and awareness are needed to better demonstrate commitment to employee well-being and highlight how benefits can meet each person's unique needs,' Estep added. Click here to view and download the study. The research was conducted with 2,946 full-time employees and 750 employers in the U.S. via national online surveys in January and February 2025. Visit for more information on Prudential Group Insurance's portfolio of workplace benefits, absence management and risk mitigation solutions. Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of Dec. 31, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential's diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for 150 years. For more information, please visit Prudential Group Insurance manufactures and distributes a full range of group life, long-term and short-term disability, and corporate and trust-owned life insurance in the U.S. to institutional clients primarily for use within employee and membership benefits plans. The business also sells critical illness, accidental death and dismemberment, and other ancillary coverages. In addition, the business provides plan administrative services in connection with its insurance coverages, and administrative services for employee-paid and unpaid leave including FMLA, ADA and PFL. 1086500-00001-00
