This article was originally written for the U.S. market and uses data from U.S. surveys. This article is intended only for educational purposes in Canada.
As the bond between humans and their pets grows stronger, employers are starting to recognize the importance of providing pet-friendly benefits to their employees. Not only can these benefits promote a more relaxed and welcoming work environment, but they can also help increase employee satisfaction and retention. Moreover, offering pet-related perks can be a cost-effective way for companies to attract and retain top talent in a competitive job market.
In this blog post, we'll explore the responsibility of employers to provide these benefits and the positive impact they can have on both employees and businesses.
1. Improved employee retention rates
According to a survey by Better Cities for Pets, nearly half of dog owners stated that it would be more difficult to leave a job if they were permitted to bring their pets to work (2024). By offering pet insurance as a benefit, companies can appeal to this large demographic and create a more inclusive work environment. This, in turn, can lead to improved employee retention rates, as employees are more likely to feel valued and satisfied with their workplace.
2. Reduced absenteeism
Pets can sometimes require emergency veterinary care, which can result in an employee taking time off work to attend to their pet's needs. According to a survey by Better Cities for Pets, 4 in 10 pet parents were concerned about being able to afford pet related costs in the last year (2024). In addition, 88% of survey respondents believe that pet insurance is worth the cost, and 39% of employees view pet insurance as an important benefit, but it is only offered by 5% of employers (Brown, 2024; Mayer, 2024).
By offering pet insurance as a benefit, employees can have peace of mind knowing that their pets are covered in case of an unexpected illness or injury. This, in turn, can help reduce absenteeism and improve productivity.
3. Increased productivity
Studies have shown that pets can have a positive impact on our mental health, reducing stress levels and increasing happiness (Better Cities for Pets, 2024). By allowing pets in the workplace, companies can create a more relaxed and comfortable atmosphere that promotes positive social interactions among employees. This, in turn, can lead to improved job satisfaction and increased productivity.
4. Competitive advantage in the job market
In a competitive job market, offering pet-related perks can be a unique selling point for employers. By offering pet insurance as a benefit, companies can attract top talent and stand out from other employers who do not offer such benefits. Three out of four respondents stated they would be more attracted to roles that allowed dogs in-office (Better Cities For Pets, 2024). This can be especially appealing to job seekers who value their pets and want to work for a company that shares those values.
How Spot Pet Insurance Can Help
Pets have become an integral part of our lives, and for many individuals, they are like family members. By offering pet insurance as an employee benefit, companies can demonstrate that they care to provide the benefits their employees' value, including care for their furry companions. If you are an employer and would like to offer pet insurance to your employees, please visit our employer page to get started. Spot plans offer up to 15% off on plans as a benefit to employees; a 10% employee discount on all pets, and a 5% multi-pet discount on all pets if more than one is enrolled.
With a Spot policy, pet parents can expect:
Variety of Coverage Options: Spot Pet Insurance plans offer multiple coverage options, which allow you to choose the coverage level that best fits your pet's needs and your budget. Spot also offers preventive care coverage as an optional add-on for a little extra cost.
Fast Reimbursement: Spot Pet Insurance plans offer fast and easy reimbursements for approved claims via direct deposit or mailed cheque.
No Networks: Spot Pet Insurance plans can be used to cover the eligible costs of covered services from any licensed veterinarian, specialist, or emergency care clinic in Canada and the United States.
In conclusion, offering pet insurance as an employee benefit can have a positive impact on both employees and businesses. By creating a more inclusive and welcoming work environment, companies can improve employee satisfaction and retention rates while reducing absenteeism and increasing productivity. Additionally, providing pet-related perks can be a cost-effective way for companies to attract and retain top talent in a competitive job market. Overall, offering pet insurance as an employee benefit can be a win-win for both employees and employers.
