Pets are helping employees sit and stay in a job

One thing we learned after working at home and re-emerging to new workplace parameters, is that pets are now seen as more than just family members. They’ve become an entrenched emotional support system that many can’t – and won’t – do without during a working day. This explains their influence on the Great Resignation, and, further, why fabulous pet benefits entice employees to sit tight as the job market trends to what is being called the Great Stay. 

And, when it comes to a value-added perks package, because pet parents are now worrying more about their pets’ welfare too, pet health insurance tops the benefits checklist.

Pet insurance trending upwards 
The 2022-2024 National Pet Owners Survey published by the American Pet Product Association (APPA) reflects an upward pet insurance trend. The report states that 66% of U.S. households currently own a pet. And, according to the latest “State of the Industry Report” from the North American Pet Health Insurance Association, 5.36 million pets are now insured across North America, a 21.7% average annual growth rate from 2021-2022.

Looking back, and considering the current shifts in the workplace, it makes sense that pet insurance is currently such an in-demand perk, and will remain so in the future. Working from home and reaping personal health benefits of having a pet around also gave pet parents the opportunity to pay closer attention to their furry companions’ behavior. Witnessing changes such as whether a pet had difficulty going up and down stairs, or was drinking too much water, initiated more veterinary visits than in the past. The APPA survey also reflects this, citing that 90% of people surveyed agreed that “they are committed to the health and well-being of their pet.” Research from the organization also found that Americans spent $35.9 billion on veterinary care in 2022, up from $18.11 billion in 2018. 

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Pet parents want more
Pets Best provides pet insurance to more than 750,000 dogs and cats, and has paid more than $500 million in claims to policyholders. We recently took a more in-depth dive, publishing Pet Parenthood Today, a study highlighting more key revelations as to why pet health insurance is such a high-value perk. It states “in today’s highly competitive job market, employees are looking for additional perks beyond standard benefits like health insurance and 401k programs. They want flexible work options, career development support, childcare coverage and wellness benefits. And pet parents have an additional set of criteria.” It also revealed that Gen Z (34%) and Millennials (36%) are the top generations most likely to use pet health insurance to finance the costs of having a pet and hence truly value it as a job perk. And further, that working for a pet-friendly company is another high-ranking job perk. Fifty-seven percent of survey respondents said they prefer to work for an employer who values pet parenting and 23% admitted that their pets affect their employment decisions.

Read more:  Pet insurance or life insurance? Help employees select the voluntary benefits they need

Pets in the office
While there’s no definitive history of how pets came to be so welcome in the workplace, numerous research papers, such as “Dogs at the Workplace: A Multiple Case Study” published by the National Library of Medicine (NLM) in 2021, confirm the social support and benefits pets provide. It also outlines the many different ways they came to accompany people to their jobs: service dogs accompanying employees with disabilities and therapy dogs assisting professional service providers, often in a healthcare, school and courthouse setting to socialize, educate or calm. Add small business owners casually taking their dogs along to the office, where today it’s become the norm to step over chew toys at the front desk. Some companies are even pandering to their “furry employees” by installing pet drinking fountains and outdoor play areas on their campuses. 

 The pet-friendly office environment has spawned alternate pet-related perks such as a hybrid work schedule allowing employees to flexibly work at home part of the week, too. 

Digital perks 
An insurance program has additional built-in benefits for both employees and office administrators when it’s driven by seamless technology. When the pandemic first started and the world was looking for contactless and mobile solutions for everything, it became vital to access everything including employee benefits with streamlined digital ease. Investments in API technology, and more options for attractive, seamlessly integrated and efficient user interfaces will continue to be top of mind for most businesses looking at offering pet health insurance. 

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More treats 
It’s clear that pet health insurance helps employees with their financial budgeting, and also helps their employers attract and retain top talent. Plus, with more employees given the opportunity to work at home some days or the option to bring Fido to the office for the work week (reducing anxiety on both ends of the leash and allowing for workers to be more productive and happier overall), what other pet-related perks will make someone stay in a job? 

Employers offering pawternity leave when someone adopts a pet is a great perk to have in a pet package. This benefit offers pet owners the chance to settle in a new family member, with time off to bond with a new animal and supervise the new arrangement, leading to a less anxious and stressed employee at their desk. Similarly, the death of a pet is an emotional upheaval, and giving an employee time off to grieve is thoughtful.

For those who have jobs that involve travel, taking a well-behaved dog along is easier than ever before as the leisure industry is very pet-friendly. But, if it’s not an option and the pet needs paid care, offering to pay for a pet hotel or giving the employee a fixed amount towards the cost is worth considering. Such a stipend could even go to send a dog to a pet camp once a week. Anything that gives a pet enrichment will improve a pet parent’s outlook too.

Mark Cushing, CEO of Animal Policy Group, who authored a book called Pet Nation: The Love Affair that Changed America, states that, “Pets aren’t a fad. They are more like the medicine America needs now for individuals and communities to feel better and do better. American employers, take notice. Your employees or team members love pets and you’ll keep them longer and at higher levels of productivity.”