SupportPay has launched its employee benefits service to support and guide working parents who are struggling with the pressures of divorce.
According to the findings of Lexology, the experience of a divorce is the second most stressful life event after the death of a spouse. However, it’s rare for employers to offer services or resources to help their employees navigate this significant life event.
The SupportPay co-parenting solution manages child support payments, expenses, custody and communication, and allows parents to make or receive child support and/or alimony payments, manage shared child expenses, centralise communications and organise schedules through its desktop and mobile app.
A survey from Good Housekeeping, which was produced in conjunction with SupportPay, found that divorce doesn’t just impact the employee; its effects ripple throughout the entire company.
In fact, the survey found that 70 per cent of the workforce is impacted by divorce at any given time. Moreover, 81 per cent of employees going through a divorce experienced lost productivity for more than one year, 73 per cent experienced increased absenteeism and 67 per cent felt a decline in health and financial wellbeing.
In light of the hardships posed by the pandemic, Sheri Atwood, founder and CEO of SupportPay, explains how many companies have worked to implement workplace benefits that support family initiatives, yet despite this, employer support for workplace divorces remains primitive.
“With SupportPay, we hope to address this gap in benefits and help working parents navigate divorce, co-parenting, and the complexities that come with it while helping companies be at the forefront of employee benefits,” adds Atwood.
Companies partner with SupportPay to provide employees and their co-parents with free access to the platform with the goal of alleviating many of the financial and emotional stressors that stem from divorce and co-parenting.
SupportPay’s benefits programme was successfully launched and offered to all 12,000 employees at Hearst Corporation, one of the world’s largest media publishers. The company is helping Hearst to expand their family-friendly policies to accommodate different life stages, including divorce.
“Going through a divorce can be a stressful and emotional time, impacting mental health, financial wellness and productivity,” comments Maria Walsh, senior vice president and head of global benefits at Hearst. “It’s important for our company to show our employees that we care about their well-being and are committed to supporting them through any of life’s challenges.”
Image and article originally from thefintechtimes.com. Read the original article here.