By Hong Ogle, President, Bank of America Houston
Being a working parent while raising two boys has taught me countless lessons about the importance of taking care of your employees, clients and community; lessons I strive to apply in managing my team.
To put it simply, I’ve learned that a supported employee is a productive employee. As employers try to pursue organizational goals, they should prioritize employee well-being in the office and outside the office; supporting the physical, emotional, and financial wellness of teammates, and fostering their career goals, directly relates to work quality. This support becomes more important in employee loyalty and retention, particularly important given increased employee turnover in a post-pandemic environment.
All employees deserve this support. But working parents—especially parents with young children—often need support the most as their daily schedule balancing work, family, and other responsibilities continually trend towards chaotic. How can employers retain talent and provide resources to support their employees through times of uncertainty?
Enabling teammates to be the best they can be at work and at home should be a key ingredient of your company culture mix.
Parental Leave: A key pillar of fostering a parent-friendly workplace is providing innovative, flexible programs and benefits for employees, thinking beyond the standard maternity leave policy. Parental leave policies are rapidly changing, but many employees are seeking programs that include maternity, paternity, and adoptive parent leave, allowing new parents the opportunity to bond with their children. Demonstrating a commitment to supportive parental leave policies can speak volumes to your culture as an organization.
Mental Health: As the pandemic has revealed, focusing on mental health and emotional wellness is more important than ever. To accomplish comprehensive mental health support, consider partnerships with training and support platforms. For example, Bank of America has partnered with Thrive Global to provide digital training that’s accessible 24/7 and includes resources for stress management, mindfulness, understanding mental health warning signs and building resiliency.
Adapting to Employee Needs: My children have taught me how to listen, communicate and find common ground with those around me. We know the pandemic has accelerated parents, particularly women, opting out of the workforce – make it a priority to modify your offerings to fit the moment so your teammates are well supported to be their best at home, and at work. Some of the most urgent needs we’ve worked to address include back-up child and dependent adult care reimbursement, no-cost coronavirus testing and related office visits, 24/7 Teledoc access and waived refill waiting periods for home delivery of prescription medication.
By helping our people, we are improving business results through increased talent retention and employee productivity – fostering innovation and delivering for our clients. Being a great place to work can also make a difference in closing the wealth gap and highlighting diversity and inclusion.
To improve family-friendliness, companies can start by reviewing their values and determining how they can promote corresponding culture. Another great step to fostering a family-oriented culture: encourage employee longevity by driving internal career mobility and provide professional development for the next generation of managers and enterprise leaders. Additionally, listen to and support your employees through the challenges brought on by the coronavirus and stay at the forefront of medical advancements to ensure employee wellness remains a top priority