Pets have always been an important part of people’s lives, but many companies are still hesitant to offer related benefits.
During the first year of the pandemic, a whopping 23 million households, or one in five people in the U.S., adopted a pet, according to the ASPCA. And although 76% of employers don’t offer pet insurance, which covers medicine, surgery, hospitalization and other expenses, around 22% of HR professionals have received pet insurance requests from workers, according to a recent survey conducted by research firm KRC for PetPartners, an insurance company.
Pet perks for workers can go beyond traditional pet insurance. Employees are also looking for additional time-off to care for their furry friends. Around 64% of pet owners said that providing paid time off for pet emergencies would influence their decision to choose one employer over another. And around 57% say they’ve used their own dedicated sick days or PTO to care for their animals.
Providing assistance with pet boarding when employees or traveling, or some flexible time for people to figure out accommodations for their furry friends, could go a long way as well. A substantial number of pet owners (62%) report that pet boarding, and its associated expenses, has influenced their decision to take time off. And when it comes to a new puppy (or kitten, or hedgehog, etc.) 67% are interested in time off to care for the new addition.
Some employees are even willing to go as far as to say that they’d prefer pet-related benefits over traditional ones. For instance, 71%, of pet owners would choose a pet-friendly office over an on-site game room. Additionally, most says they would prefer pet insurance to health and wellness programs, an onsite pet care service to a fitness center, and complementary kibble over office snacks, according to the study.
While that may seem ridiculous, I know how much dog food costs—and I would ditch office snacks in a heartbeat if it meant free meals for my rescue pup Massimo.
Brit Morse
[email protected]
How will your business adapt in the face of a shifting global landscape? Join global executives and policy leaders at the Fortune Global Forum in New York City Nov. 11-12 to discuss AI, the future of democracy, rising geopolitical tensions, and more. Request your invite here.
Today’s edition was curated by Emma Burleigh.
Around the Table
A round-up of the most important HR headlines.
Volkswagen has announced they will shut down at least three factories, laying off tens of thousands of staffers, as part of a cost cutting strategy. WSJ
Goodbye, rise and grind—more U.S. workers don’t want to climb the corporate ladder anymore because they’re happy in their current roles. Business Insider
While a majority of employees say they don’t use AI on the job, there is a growing group of “super users” who are deploying the tech to get ahead at work. Washington Post
Watercooler
Everything you need to know from Fortune.
Grind culture. The CEO of a trillion-dollar Norwegian oil fund says that Americans work harder, and that European employees “are not very ambitious.” —Eleanor Pringle
Money hungry. While workers get laid off in droves, CEOs and shareholders reap the financial rewards, because “rules are being rigged and the companies are helping to rig them.” —Chloe Berger
Cash out. U.S. staffers work up to 40% more than their European counterparts in the same role, but they’re getting paid more for working into the night. —Samuel Burke
