Biglaw firms are finally coming around to understand that recruiting and retaining top-notch talent will require more than just throwing money at the problem (though, obviously, that’s nice too). Whether it is increasing parental leave, a Peloton, a selection of high-end gifts, billable hours for unplugging from work, free food, up to $15K for any purchase toward rest, recreation, and relaxation, or picking up the tab for vacations — Biglaw is stepping up its game.
Now Reed Smith has announced a new new fertility and family-forming benefit, which will see attorneys and professional staff get services and support from Carrot Fertility. The firm will cover 100% of eligible expenses (which includes a range of fertility treatments and family-formation services, such as adoption, IVF and gestational carrier services) up to a $60,000 lifetime limit. That’s some impressive coverage. What’s even nicer is the employees will not have to lay out the money and wait on the reimbursements; instead, they’ll receive a Carrot Card that will advance the costs of the expenses, limiting the upfront costs.
Casey Ryan, the firm’s global head of legal personnel, explains the upgrade the new program over previous coverage:
“While we have had fertility benefits as part of the firm’s healthcare plan, this benefit, available to all lawyers and professional staff, is a different order of magnitude. We are partnering with Carrot Fertility in order to provide best-in-class benefits that help reduce the stress for individuals and couples experiencing challenges in starting or growing a family. Carrot’s extensive clinic and agency network and comprehensive telehealth and care navigation platform will provide a tremendous boost for Reed Smith’s lawyers and professional staff on their different journeys to becoming parents. We are proud to offer a truly inclusive policy – one that supports the decisions of our employees to form families in any way they choose.”
The benefit is effective immediately for U.S. personnel, with the financial coverage services retroactive to January 1. The firm’s EMEA offices will see the benefit starting this summer.
Kathryn Rubino is a Senior Editor at Above the Law, host of The Jabot podcast, and co-host of Thinking Like A Lawyer. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).