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#WorkBeyond#WorkBeyond
#WorkBeyond#WorkBeyond
The Modern Family in the Age of Millennials
Case StudiesFeaturing: Boston College Center for Work & Family, PNC Financial, Bright Horizons, EY
Jennifer Sabatini FraoneDirector of Corporate Partnerships
Boston College Center for Work & Family
Working Mother Work Beyond SummitOctober 24, 2017
Boston College Center for Work & Family
The Modern Family in the Age of Millennials
The Center for Work & Family is the leading university-based center focused on supporting employers in their efforts to improve the lives of working people and their families.
Key areas of focus:
Supporting work-life and flexibility
Fostering employee well-being
Engaging & managing talent
Leading globally inclusive workplace
www.bc.edu/cwf Twitter @BCCWF
CWF Members include …
Today’s Families
Nearly 10 million families headed by a single mother
115,000 same-sex couples with children
57 million Americans, or 18% of the population of the United States, live in multi-generational family households
Modern Families
• Average age of mother at first
birth: 28 (CDC, 2016)
• Birth rates for teens and
twenties have decreased, 30s
and 40s increased
• Fewer educated women are
opting out of having children:
20% vs. 33% 20 years ago
• Later marriage
CMRubinWorld Sruvey of Millennial Bloggers, 2017
• “As globalization has shifted our economy and as the ability for one breadwinner to support a family fades, we are witnessing a shift in what is deemed culturally acceptable”
• “We are beginning to welcome a buffet of relationships and contexts to promote an adaptive, flexible, modern economic family unit”
• “I hope that times keep changing, where no one is more “normal” than anyone else. We are all individuals; all unique; all inspirational; all making a difference, big or small, in our own ways”
The Modern Family
“Ultimately a normal family should be a loving family”
Millennials as New Parents
• 9,000 babies are born to Millennials each day in the US
• 1.3 million Millennials become moms each year
• More than 22 million Millennial parents live in the U.S.
• Millennials more likely to be part of a dual-career couple (78% vs 47% Boomers, EY )
80-90% of the 4 million annual U.S. babies are now born to Millennials
Companies are respondingProviding supports through this vulnerable transition time in career/life.
Fertility and Pre-natal Services Welcome Back/Transition Support
Preparation for leave Lactation Support
Paid Parental Leave Parenting Affinity Groups/ERGs
Adoption Support and Leave Manager Training/Support
New Parent Career Coaching Education Support for Special Needs
Child Care Support and R&R Workplace Flexibility
Boston College Center for Work & Family
Boston College Center for Work & Family
The New Dad Studies
www.thenewdad.org
Sample for The New Dad Over course of The New Dad studies (2009-2017)
>3000 fathers have been interviewed or surveyed Our population is typically college-educated, white
collar workers from large companies In this study we have a sample of 869 28% Baby boomers, 57% Gen X, 15% Millennials Worked at 9 organizations in professional services,
insurance, investment banking, outsourcing, etc. Generally, these are very happy employees
Boston College Center for Work & Family
Today’s New Dads• 74% of Millennial dads want to spend more time with their kids
• 89% believe paternity leave is important (60% very or extremely)
• 95% want flexibility to be available and supported in their workplace
• Dads report as much, if not more work-life conflict as mothers
• When it came to what’s “extremely important” to them in assessing their success: Work-life #1
• A majority of dads want to advance… but not at the expense of spending time with family (64% disagree – only 4% strongly agree)
The New Dad studies: Boston College Center for Work & Family www.thenewdad.org
How should be/is caregiving divided?Boston College Center for Work & Family
Three Paradigms of The New Dad Traditional Dads Spouse should do more and she does
Egalitarian Dads Caregiving should be 50/50 proposition and it is
Conflicted Dads Caregiving should be 50/50 proposition but … Spouse does more than I do
Boston College Center for Work & Family
Boston College Center for Work & Family30% of sample 38% of sample 32% of sample
Traditional, Egalitarian, Conflicted Boston College Center for Work & Family
Fatherhood types by generation
Boston College Center for Work & Family
Would like more time with children
Boston College Center for Work & Family
Job withdrawal intentions
Boston College Center for Work & Family
Life Satisfaction: Millennials only
Boston College Center for Work & Family
Why are men conflicted?
Boston College Center for Work & Family
In a period of transition in the US
Defined as breadwinners … this will change slowly
Men’s financial contribution to family often greater than their partner’s, so salary is needed more
Men don’t take leave following birth of child - leads to less confidence / competence in caregiving
Organizations have been slow to catch up to and accept men’s expanded role in the home
Recommendations for Employers Provide in-depth career-life planning programs for fathers that
include rigorous self-assessment Survey fathers to assess whether they feel culture is accepting
of fathers’ caregiving role … if not it will undermine women’s advancement agenda
Cultivate a flexible workplace and offer paid leave Consider starting a fathers’ employee resource group or
inclusive family group and offering father-focused programming
Expand mentoring discussion for men to include the challenges they face on the work-family front
Boston College Center for Work & Family
Recommendations for Dads
Boston College Center for Work & Family
Being Conflicted reduces satisfaction with work & life Strive for congruence between values & actions Ways to accomplish this: In-depth career-life planning activity which includes rigorous
self–assessment process Fathers’ group to share struggles & success stories Take paternity leave if possible, hopefully paid! Frequent conversations with partner regarding how shared
caregiving is working, how it can be improved
Supporting all parents and all families at EY
How the evolving recognition of families creates
opportunities for everyone at EY
24 October 2017
Supporting all parents and all families at EY11/1/2017 28
► Global professional services organization
► 250,000 people in 728 offices in 152 countries
► 45,000 in the US
► Building a better working world for our people, our clients and our communities
EY
Who we are
Supporting all parents and all families at EY
Generation “Go”
Observations:
Managing work and life is getting harder
across the world — younger generations and
parents hit the hardest1.
Workers around the world want the option to
work flexibly — without penalty3.
Global employee retention: why are people
quitting their jobs?2.
Supporting all parents and all families at EY
The changing definition of “family”
Classic definition Today’s reality
11/1/2017 30
Supporting all parents and all families at EY
Today’s Families
11/1/2017 31
Supporting all parents and all families at EY
Cross-network opportunities
11/1/2017 32
Supporting all parents and all families at EY
Pathways to Parenthood
Gender-neutral paid parental leave
► Increased paid parental leave
► 16 weeks for primary caregivers
Assisted reproductive technology (ART) procedures
► Combined $25,000 lifetime max. benefit per family to cover:
► Adoption
► Surrogacy
► Infertility
► Egg and sperm retrieval (if medically necessary)
► Egg and sperm freezing preservation (if medically necessary)
► Eligible for up to a $10,000 lifetime maximum for related prescription drug costs
Domestic partner benefits
► Doesn’t require people to be married — same-sex and opposite-sex benefits
11/1/2017 33
Supporting all parents and all families at EY
More dads taking parental leave and families using ART
► EY Parental Leave Policy — 16 weeks announced April 11, 2016, retroactive to
Nov. 2015
► Nearly all women take the full 16 weeks consecutively
► As of September 30, 2017:
► 232 dads out of 674 (34%) took the full 16 weeks, in a variety of ways
► The average number of paid weeks taken by men was six weeks
► Many dads still only take two weeks
► ART and adoption reimbursement
► 8 people registered for surrogacy benefits
► 9 adoptive families to date taking advantage of the new policy
► 400 people accessed infertility treatments through EY medical plan
11/1/2017 34
EY | Assurance | Tax | Transactions | Advisory
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights
and quality services we deliver help build trust and confidence in the capital markets and
in economies the world over. We develop outstanding leaders who team to deliver on our
promises to all of our stakeholders. In so doing, we play a critical role in building a better
working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one
or more, of the member firms of Ernst & Young Global Limited, each of which is a
separate legal entity. Ernst & Young
Global Limited, a UK company limited by guarantee, does not provide services to clients.
For more information about our organization, please visit ey.com.
Ernst & Young LLP is a client-serving member firm of
Ernst & Young Global Limited operating in the US.
© 2017 Ernst & Young LLP.
All Rights Reserved.
1710-2440890
ED None
This material has been prepared for general informational purposes
only and is not intended to be relied upon as accounting, tax or other
professional advice. Please refer to your advisors for specific advice.
ey.com
Millennials are the largest generation in the workforce
36
At PNC, we recognize that tomorrow’s leaders are graduating every day from universities near and far. We feel it’s important to provide targeted development programs that provide the hands-on experience and intensive learning that early-career professionals need in order to explore and achieve career goals.
By joining one of PNC’s Early Career Development Programs, you will learn, network, and develop professionally through hands-on experience. Our programs offer an excellent opportunity to work side by side with PNC professionals while making real contributions through meaningful work.
We’re Focusing on Your Future & Ours
Our customers should see themselves in our employees
37
"We continue to gain momentum in the creation of a corporate
culture that is intentionally inclusive as we interface with an
evolving workforce, workplace and marketplace.”
- Marsha Jones, Chief Diversity Officer
Where have we evolved to support today’s parents?
38
Onsite Back-up Care Centers Great Start Program
National Just In Case Care
New Mothers Rooms
Flexible Work Arrangements
Paid Maternity & Parental Leave
Onsite Well-being Centers
Rome wasn’t built in a day
39
Great Start Program with Bright Horizons
40
Our employees will tell you…
41
“O’Brien Family Center is hands down one of the reasons why I am so happy with PNC. I sent both my kids through the Great Start program and have used the backup services a number of times…”
“…it gave my wife peace of mind going back to work after her leave knowing that I would be able to check in on our daughter while she was enrolled in the Great Start program. Our time in Great Start was priceless but on a practical level, it allowed us to postpone full time daycare by two months which also allowed us to save a considerable amount of money.”
Millenials desire stability and flexibility
42
Communication is key
43
Short videos
Regular program highlights
Webinars
Packaging benefits together to
solve a particular need EAP + Bright Horizons Elder Care
“Having a Baby” Guide
Desire for purpose and greater good
44
Over 13 Years:• 54,000 employee volunteers
• 650,000 volunteer hours
• 930,000 donated items
40 Paid Hours to Volunteer/Year
The proof is in the pudding
45
#WorkBeyond#WorkBeyond
Questions?
#WorkBeyond