While few employers offer benefit, 'employees see pets as dependants now,' says expert
Pet insurance can be a valuable asset for employers, according to a survey.
At companies offering pet insurance, 84 per cent of employees report higher job satisfaction, and 82 per cent are more satisfied with their benefits.
Additionally, 78 per cent of employees indicate they would consider major life changes—such as switching jobs—to better accommodate their pets, according to a survey released by OnePack Plan of 1,021 HR professionals in Canada and the United States.
“It provides peace of mind for pet owners,” says Michelle Yates, EVP of business development at the company, in an interview with Canadian HR Reporter.
This benefit provides workers with the financial support they need should they face an unexpected veterinary bill due to a pet’s injury—or even for routine wellness checkups for their fur babies, she says.
“Insurance bridges the gaps and makes managing the unexpected veterinary costs [easier], because you can't predict when your little fluffy is going to break his leg.”
More than half of workers believe that being dog-friendly shows that the employer appreciates its employees, according to a previous report.
HR supportive of pet-friendly policies
Meanwhile, 80 per cent of HR professionals believe that pet-friendly policies are crucial in attracting and retaining top talent, according to OnePack Plan.
Furthermore, 87 per cent of HR professionals believe offering pet insurance is a good way for companies to show care and concern for employees and their families—including their furry family members—according to the survey . This figure rises to 91 per cent among senior leaders.
“Within 50 per cent of Canadian households owning a pet, employees see pets as dependants now,” says Yates. “And 59 per cent of Canadians consider their pets’ health to be as or almost as important as [that of] part of their family.”
Lana Gogas, manager of communications and corporate affairs for Shoppers Drug Mart in Toronto, previously said that their company allows workers to use their bereavement leave to grieve for the death of pets.
Pet insurance gap
Despite the benefits employers stand to gain from offering pet insurance, few are doing so, says Yates.
“Our recent study showed that 50 per cent of Canadian pet owners expressed an interest in employer-sponsored pet insurance, but only two per cent of Canadian organisations are offering it,” she says. “So there's a gap there.”
According to the Human Animal Bond Research Institute (HABRI), helping employees care for their pets is an effective way to support their overall health and wellbeing.
“Even if allowing pets in the workplace is not an option, employers can demonstrate that they care about their pet-owning employees by providing benefits that help pet owners take good care of their pets,” they say.
“For example, employers can consider offering pet health insurance, time off to care for a new or sick pet, pet sitting services or allowing employees the flexibility to work from home to take care of pets.”
HR professionals believe that offering pet-friendly benefits in the workplace can deliver rewards on wellbeing, retention and recruitment, according to a previous report.
OnePack Plan is a pet insurance plan that employers can integrate into an existing benefits package.
