Egg Freezing Option at Facebook – Is it a Game Changing Employee Benefit?

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Excerpts

In the US corporate world, women occupied less than 20% of the leadership positions and only 5% of women were working at level CEOs level positions . As per the information given by technology companies operating in Silicon Valley, it was found that out of the total employee strength; only 30% women were working at the functional level. Ratio at Silicon Valley Technology Companies). Moreover, the companies were also facing retention problems with respect to women employees. Though there were several reasons for the increasing attrition levels, attainment of motherhood was considered as a major reason (Refer to Exhibit – III for Issues in Women Employee Development). Owing to the requirements of the employees, Facebook offered 17 weeks of paid leave as a part of its paternity and maternity leave benefits and paid an amount $4,000 as baby cash........

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Biologically, women faced certain constraints. With increasing age, the potential of women to become mothers declined considerably and after 40 years the chances of their getting pregnant were limited “A woman in her 40s only has a three to five percent chance of getting pregnant per month, where a 30-year-old woman has approximately a 20 percent chance of getting pregnant per month,” said Dr. Jose F. Pliego, MD, Infertility Specialist .There were no measures to help the women to prolong their ability to attain motherhood.......

Facebook’s Egg Freezing option was criticized by different people. The policy was blamed for supporting an unreliable medical procedure in which the success rate was very low “This was relatively a invasive procedure that had a success rate of only 20 percent–and that’s if you’re able to freeze enough viable eggs, which many women can’t do” said Emma Rosenblum, Editor, Bloomberg Business week .Facebook’s move was considered as being merely a part of corporate strategy to win the race of retaining talented women employees . .....

Though, Facebook’s decision came in for criticism from different sections of the society, there were others who felt that its initiative could be considered as a move toward finding a solution to the long-standing problems of women employees. Only time would tell how successful the Egg Freezing option would be.......

Exhibit I: Perks and Benefits offered by Facebook to its Employees)
Exhibit II: Female and Male Employee Ratio at Silicon Valley Technology Companies
Exhibit III: Women Employee Issues