We all know that divorce can be costly. According to a recent study, the average divorce can cost upward of $15,000 – and if you have disputes over finances or custody, that number will be even higher. But did you know that divorces are costly for employers as well? Experts say relationship-related stress — especially divorce — can cause companies $300 billion a year.
Now, companies have procedures about what to do if one of their team members has a death in the family, must take care of a child who is sick, or is suffering from a long-term illness. But although 10% of their workforce goes through a divorce every year, most companies don’t have plans to support these employees.
Fortunately, my guest for today’s episode, Sheri Atwood, is an expert in this area. Sheri is CEO and Founder of SupportPay, which offers first-of-its-kind employee benefits for divorce and separation. Listen in as we discuss the stigma of divorce in the workplace and its implications for employees and managers, what companies can do about divorce inequality, and more.