Fatherhood Factor: The Hartford Survey Finds Half Of Gen Y Dads Take Time Off After Baby
June 17 2015 - 11:05AM
Business Wire
Millennial men want flexible work, benefits to tackle
parenthood
Millennial men (18-33) are leading the paternity leave trend,
with 52 percent taking extended time off from work to help care for
a baby, according to a national survey1 from The Hartford.
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While this generation of 80 million is known for putting off
parenthood, increasingly more Millennials are entering this new
life stage. Currently, about 10.8 million Gen Y households have
children.2
“Millennial men are approaching parenthood differently than
previous generations, which means employers should factor in
fathers when they build benefit plans and work-life policies,” said
The Hartford’s Millennial Workplace Expert Lindsey Pollak. “Meeting
the needs of this next generation of parents will be critical for
businesses as we countdown to 2020 – the year when Millennials are
expected to be 50 percent of the U.S. workforce.”
In The Hartford’s 2015 Millennial Parenthood Survey, 31 percent
of Millennial dads said both parents took more than two weeks off
after a baby and 21 percent said they were the only parent who took
time off. In addition, an analysis of The Hartford’s claims data
showed that caring for a newborn was the No. 1 reason for
Millennial men to be on a non-disability leave of absence.3
Parenthood impacted the careers of both women (75 percent) and
men (53 percent), according to The Hartford’s survey. Millennial
dads said the top impacts were a reduction in their hours (16
percent), moving to a job with a higher salary (15 percent), and a
slowdown of their career (12 percent). Millennial moms said the top
impacts were changing to a job with more flexibility (25 percent),
reducing their hours (22 percent), and experiencing a slowdown in
their career (18 percent).
Mother’s Little Helper (And Dad’s Too)
Millennials in the national survey said employers should offer
these benefits to help employees be responsible parents:
- Flexibility in time-off options – 97
percent;
- Flexibility in work hours – 97
percent;
- Disability insurance – 96 percent;
and
- Life insurance – 92 percent.
In fact, Millennial men were more likely than women to feel that
employers must offer disability, life, and critical illness
insurance in their benefits package.
“This new research supports our focus of offering benefits that
enable employers to attract and retain employees, while helping
consumers protect their family finances,” said Laura Marzi, vice
president in The Hartford's Group Benefits business. “Also, we see
there’s still a need for educational programs, such as our campaign
with Lindsey Pollak, to help employees understand how benefits can
help them stay on track with their professional and personal
goals.”
Pollak, the author of the New York Times best-seller “Becoming
the Boss: New Rules for the Next Generation of Leaders,” has
partnered with The Hartford for nearly three years on a national
awareness campaign to help Millennials understand their benefits
and employers understand their Gen Y employees. More information
can be found at www.thehartford.comtomorrow.
About The Hartford
With more than 200 years of expertise, The Hartford (NYSE: HIG)
is a leader in property and casualty insurance, group benefits and
mutual funds. The company is widely recognized for its service
excellence, sustainability practices, trust and integrity. More
information on the company and its financial performance is
available at www.thehartford.com. Join us on Facebook at
www.facebook.com/TheHartford. Follow us on Twitter at
www.twitter.com/TheHartford.
The Hartford® is The Hartford Financial Services Group, Inc. and
its subsidiaries, including issuing companies, Hartford Life
Insurance Company, and Hartford Life and Accident Insurance
Company. Its headquarters is in Hartford, Conn.
HIG-M
Some of the statements in this release may be considered
forward-looking statements as defined in the Private Securities
Litigation Reform Act of 1995. We caution investors that these
forward-looking statements are not guarantees of future
performance, and actual results may differ materially. Investors
should consider the important risks and uncertainties that may
cause actual results to differ. These important risks and
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1. The Hartford's 2015 Millennial Parenthood Survey is a
national omnibus survey conducted weekly among a sample of 1,000
U.S. consumers, ages 18-33, who were either self-employed or
employed full or part time. Interviewing was conducted on behalf of
The Hartford using ORC International’s Generational
Millennial CARAVAN® Omnibus in April 2015.
2.
http://www.millennialmarketing.com/2013/07/new-research-the-millennial-generation-becomes-parents/
3. The analysis of leave of absence data was 54,000 leaves of
absences among 110,000 employees of 10 national companies with The
Hartford’s absence management service from 2012-2014.
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Media Contact(s):The HartfordKelly J. Carter,
860-547-2122kelly.carter@thehartford.comorMichelle Loxton,
860-547-7413Michelle.loxton@thehartford.com
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