Pregnancy last nine months. Parenthood is a minimum of 18 years per child. Caregiving may not have a time limit. New parenthood, and the run up to it, are the most visible, and generally receive the most attention in benefits packages. While pregnancy and new parenthood are significant life events and infants tend to be time and resource intensive, our organizations should also consider the demands placed on parents throughout their time raising biological and adopted children and caregivers who may be caring for elderly relatives or adult children or other family who cannot live on their own due to special needs, illness, or injury.
Caregivers and parents, no matter what stage of child-raising or providing care, bring diverse perspectives to the workplace. Modern families come in all shapes and sizes with multi-generational and extended family households; LGBTQ+ parents; blended families with biological, adoptive, and stepchildren; single-parent households; and dual-income families. Although the nuclear family was the prevailing social model for many years, it does not represent most families’ reality.
Because of the changing perceptions around family, caregiving, and work/life balance, bankers should not overlook their single employees who may have unexpected life changes thrust upon them. If a parent becomes sick or an accidental death means they are now the legal guardian of their sister’s child, single people may suddenly have caregiving responsibilities and deserve equitable treatment.
While employers meet various compliance measures and may offer a wide range of benefits packages that address parenthood and caregiving, the leading practices for an organizational culture that supports employees in every life stage are:
Creating an organizational culture that values family, in all of its facets, is not only a must to attract and retain talent in the banking industry, but also for banks’ reputations in their communities. Parents and caregivers contribute massive amounts of unpaid labor to society in addition to their “day” jobs. Banks can help them succeed at both.
About Naomi: Naomi Mercer (she, her) is senior vice president for diversity, equity and inclusion at ABA. She recently transitioned from a 25-year military career where she served as an assistant professor in the Department of English and Philosophy at the United States Military Academy and in the Pentagon running the Army’s gender integration and religious accommodation programs. Her educational background includes a doctorate in literary studies with a minor in gender and women’s studies from the University of Wisconsin-Madison and an executive certificate in strategic diversity and inclusion from Georgetown University’s Institute for Transformational Leadership. She is the author of the academic monograph, Toward Utopia (2015).