Market Overview

Paid family leave ranks as most coveted work perk, Unum finds

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Poll reveals U.S. workers value paid leave over flexible working
arrangements

Employee benefits provider Unum
(NYSE:UNM) finds the majority of workers (58 percent) want paid family
leave from their employers, including nearly two-thirds (64 percent) of
millennials. In an online poll of 1,227 working U.S. adults conducted
last month, paid family leave outranks other popular perks*, like
flexible and remote working options (55 percent), sabbatical leave (38
percent), student loan repayment assistance (35 percent), pet-friendly
offices (15 percent), and pet insurance (15 percent).

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Unum explores the most coveted work perks among U.S. workers and Millennials. Results show paid fami ...

Unum explores the most coveted work perks among U.S. workers and Millennials. Results show paid family leave tops the list over other popular perks. (Graphic: Business Wire)

"It's not surprising that paid family leave is the most coveted work
perk, even for millennials," said Michelle Jackson, AVP of Regional
Market Development at Unum. "Our recent Caring
Report
explored the strain of balancing caring and professional
responsibilities across all generations in the workforce. Research also
suggests that a generous leave policy can lead to higher levels of
employee engagement and a competitive edge to recruit and retain top
talent."

Paid family leave includes time away from work to help new moms and dads
bond with children, as well as time off to care for aging adult family
members. While not mandated on a federal level, several U.S. states and
municipalities have implemented variations of paid family leave laws to
ensure employees have adequate time off for caring responsibilities.

According to WorldatWork, 88
percent
of companies think they need to offer paid family leave to
be competitive, yet a 2017 Pew Research Center survey found access to
paid family leave varies
widely
across employers and industries.

While most employers want to support working caregivers, balancing the
wide range of federal, state and even local leave policies can be
confusing and complicated. Unum has created a variety of resources for
both employers and employees at a new, dedicated site, which can be
found here.

The company also offers LeaveLogic
to its employer customers, which streamlines the leave process for
employers and their employees across federal, state, and local
regulations and company policies.

*For the purpose of this study, work perks are defined as non-insurance
or retirement benefits. Consumers were asked to rank the following work
perks in order of preferences: paid family leave, flexible/remote work
options, professional development, sabbatical leave, gym membership or
onsite fitness center, student loan repayment, onsite healthy snacks, ID
theft protection, financial planning resources, fitness goal incentives,
public transit assistance, pet-friendly offices, pet insurance, health
coaching, and dedicated volunteer hours. Participants could vote for
their top five choices.

About Unum

Unum Group (www.unum.com)
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life, and Unum UK. Unum's portfolio includes disability, life,
accident and critical illness, dental and vision coverage, which help
protect millions of working people and their families in the event of an
illness or injury. Unum also provides stop-loss coverage to help
self-insured employers protect against unanticipated medical costs. The
company reported revenues of $11.3 billion in 2017 and provided nearly
$7 billion in benefits.

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