We don't currently offer adoption assistance, but an employee suggested we consider it. What are the pros and cons of this employee benefit?
Anonymous (CFO)
| Dec 12, 2011Topics:
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Company:
Hello - I don't have direct experience with adoption benefits, but here is an excellent website that provides a great overview of the benefits for employers of offering adoption assistance. http://www.childwelfare.gov/pubs/f_benefi.cfm
Company:
This sort of service is often easily bundled with an outsourced employee assistance portal. Many current providers include this kind of advice with care for the elderly, a factor for many in the "sandwich" generation.
Company: Pinnacol Assurance
Generally speaking, offering these types of benefits are a good marketing tool that give weight to the claim that you offer great benefits to help attract employees. It impresses potential employees that have no plans to adopt. In reality, very few employees ever utilize the benefit so it tends to be low cost to the employer. The most common benefits are offering to reimburse a level of adoption costs with documentation of the expense (my company does up to $4,000) and making sure you offer the same leave terms to adopting families that you offer to those giving birth (required under FMLA, so this only applies to companies or employees not subject to FMLA).