October 22nd, 2019
Surprisingly, there are more similarities than differences
SPRINGFIELD, Mass., October. 22, 2019 – How has the definition of family evolved over recent years? That’s what Massachusetts Mutual Life Insurance Company (MassMutual) set out to discover and asked 3,000 Americans via an online survey conducted by PSB Research in June.
What the 168-year old mutual life insurance company found was a bit surprising. There were more similarities than differences no matter how you sliced the data.
Regardless of age, parental status, ethnicity, race, gender identity, orientation or sibling status:
And of the few differences:
“Usually when you span such a broad consumer group, you find more differences than similarities,” said Lorie Valle-Yanez, head of diversity and inclusion, MassMutual. “But when it comes to the topic of one’s family, while everyone is different, at the root of it, it’s about the people we love.”
So why did MassMutual conduct this research, and why now?
At the start of this year, MassMutual expanded its suite of employee benefits and broke the traditional mold when it comes to the definition of family with the company’s new caregiver and bereavement leaves. The new caregiver leave provides employees with up to two weeks paid leave to care for a loved one who is suffering from a serious health condition. The new bereavement leave provides up to 15 days of paid time off to grieve the loss of a loved one.
With both, it is at the discretion of the employee to define who a loved one is. There is no requirement that the person is an immediate or extended family member.
“When we were looking at expanding our suite of benefits and leaves, our goal was to do the right thing for our employees, providing options that are flexible and adaptable for everyone,” said Sue Cicco, head of human resources and employee experience, MassMutual. “Our purpose is to help people secure their future and protect the ones they love, and that begins at home with our employees.”
“Our research on the evolving definition of family validates the path that we are on – a path that we believe is less traveled in corporate America, and one that we truly believe is the right path for companies to be on,” added Cicco.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.