Fifth Third Bank offers Maternity Concierge program as employee - News, Weather, Sports, Toledo, OH

Fifth Third Bank offers Maternity Concierge program as employee benefit

(Source: WTOL) (Source: WTOL)
TOLEDO, OH (WTOL) -

Being a mom is stressful on its own. But for mothers who work a full-time job, it can be downright overwhelming.

But Fifth Third Bank has a program aimed at not only helping their employees, but retaining them.

The maternity concierge program meets a variety of needs for pregnant women and moms with children under one-year-old.

The service does everything from helping to plan baby showers and birthday parties to offering resources to making the transition back to work easier.

Patty Stambaugh is a personal banker at the Swanton Branch.

The mother of three, including six-month-old Claire, uses the service for a number of things.

"They've also given me information as far as babysitting," Stambaugh said. "We've been lucky enough to have my mother in law babysit in our house, but for like date nights and things like that, it's kinda nice to not have to impose on family."

Assistant Professor of Management at the University of Toledo College of Business and Innovation, Dr. Joseph Cooper says only about four percent of companies offer this type of concierge service, but it is not uncommon for companies to use creative benefits to retain its best employees.  

"Offering dating allowances for unmarried employees," Cooper said. "Offering spot bonuses that you can use to buy gifts on your anniversary, if you're married. So there are a whole host of things companies are doing. Unique things. They're trying to come up with those creative ideas that say, 'We value you as an employee.'"  

Cooper says the labor market is tightening and the cost of services like this, which Fifth Third says is in the six figures, offsets the cost to hire new employees.

"So they don't have to face the cost of going out and battle for that talent on the market," Cooper explained. "But it makes their organizations more attractive as well."

Stambaugh hopes this maternity concierge is the start of a trend.

"I'm hoping other companies implement this as well because it is hard returning back to work after having a kid," Stambaugh said. 

Fifth Third Bank also offers new parent-bonding leave, which is four weeks of full paid leave for new dads and moms, in addition to the existing maternity policy.

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