Parents Spend Up to 15 Work Hours a Week on College and Career Planning for Their Children, According to New Report from myKlovr and Empowerly
Parents Spend Up to 15 Work Hours a Week on College and Career Planning for Their Children, According to New Report from myKlovr and Empowerly
95% of employed parents worry about helping their children with college and career planning, which eats into their work schedules
SAN FRANCISCO, March 28, 2023 (GLOBE NEWSWIRE) — Pathways, the employee education benefits product powered by myKlovr and Empowerly, today revealed findings from its new U.S. study, State of Employee Benefits & Family Mental Health. The national study, focused on the impact of college and career planning on employee performance and how relevant benefits impact recruitment and retention, found that family college and career planning is the second most requested benefit behind financial wellness.
“Successful benefit programs lie in their ability to see and support employees as whole people. The pandemic illustrated the extent to which family and work overlap – our results further clarify the connections between mental health and wellbeing of our teens, the success of a workforce heavily made up of parents and caregivers, and the potential business impact for employers,” said Anthony Faulise, CTO of myKlovr. “Worried families result in worried, distracted employees, which can lead to struggling companies. College and career readiness benefits speak directly to family well-being, making it a must-have offering for competitive companies seeking to recruit, retain, and optimize their talent base.”
The Impact of College & Career Planning Benefits on Employee Performance
The results show that working parents are under significant stress because of concerns over helping teens prepare for a successful future, and it’s affecting their work.
When breaking down the 95% of employed parents who revealed that they are nervous or stressed about helping their children prepare for college or start a career after high school, 51% of these parents said they are “Usually” or “Always” nervous or stressed. In regards to employee performance, 50% of employed parents reported that their teens’ mental health is negatively impacted by the stress of college and career planning, which falls largely on parents to address. This is further exacerbated by data from Education Week’s National Center for Education Statistics showing how only 14% of U.S. Public School districts meet the recommended student-to-counselor ratio and 40% of incoming college freshmen are the first in their family to attend school — lacking knowledge about the admissions process ‘around the dinner table’. Additionally, Pathways research found that 88% of parents have used time at work to help their teen with homework, plan for school, prepare for college, or aid in starting a career after high school. More specifically, 25% of parents spent an estimated 6-15 hours per work week helping their children with the aforementioned support.
Impact of College & Career Planning Benefits on Recruiting and Retaining Talent
As the war for talent continues, the report found that college and career planning benefits significantly impact recruiting and retaining talent, as well as how likely employees are to recommend an employer.
- 71% of employees reported they are more likely to stay at job if college and career planning benefits are offered
- 74% of employees said they are more likely to accept a job if college and career planning benefits are offered
- 74% of employees said they are more likely to recommend an employer to friend if college and career planning benefits are offered
“Uncertainty about the future has reached epidemic proportions for both teens and parents— our data makes it clear that there’s a connection between the stress students are experiencing and the impact it has on working parents,” said Changxiao Xie, co-founder of Empowerly. “With Pathways, we’re giving employers the opportunity to alleviate that stress and provide the support their employees want and need.”
To learn more about what this study revealed, check out the full report here. The Pathways team is currently in attendance at the Transform 2023 conference through March 29 in Las Vegas, NV, where attendees can learn more about its offerings and survey findings at booth #809. For more information, visit www.myklovr.com/pathways.
Methodology
This SurveyMonkey online poll was conducted among 1,000 U.S. employed adults between March 23 and March 24, 2023. Respondents for this survey were selected from the nearly 3 million people who take surveys on the SurveyMonkey platform each day. Data for this has been weighted for age, race, sex, education, and geography using the Census Bureau’s American Community Survey to reflect the demographic composition of the United States. The modeled error estimate for this survey is plus or minus 3.5 percentage points.
About myKlovr:
MyKlovr is an AI-powered, virtual college and career counselor that empowers families by offering an affordable, accessible, and scalable solution to better help students achieve their personal path to success – whether through a 4-year university, 2-year college, career and technical education, or by launching a rewarding career immediately after high school. MyKlovr engages students as early as 9th grade to help them envision a path towards their future. The myKlovr system uses a combination of AI, behavioral analytics, and proprietary algorithms to deliver personalized expert advice, goals and opportunities including internships, scholarships, extracurricular and academic guidance, and real-world career insights.
About Empowerly:
Empowerly is a data-driven education technology company that provides personalized college and career guidance to students and their families. To date, Empowerly has raised $12 million from investors, including Goodwater Capital, FJ Labs, Scrum Ventures, Translink Capital, Azure Capital Partners, Spero Ventures, Thinkplus Ventures and Mentors Fund. The company’s mission is to empower students to become the most successful version of themselves. From college preparation, landing internships, and beyond, Empowerly supports students in achieving their academic and career goals.
CONTACT: Media Contact: BAM for Empowerly empowerly@bamtheagency.com