NEW YORK--(BUSINESS WIRE)--Working pet parents face significant challenges balancing their professional responsibilities with pet care needs, according to a new survey from Wagmo, the leading provider of employer-based pet wellness plans. The survey, which polled over 1,000 full-time employees who own pets in the United States, highlights the impact of pet care on employee attendance and productivity, as well as the importance of pet-related benefits for companies looking to attract and retain top talent.
The survey finds that 75% of working pet owners have missed at least one day of work in the past year due to pet care issues, with over a quarter (26%) missing six or more days. Furthermore, when their pets are sick or injured, 65% report being extremely (38%) or very (27%) distracted at work.
Pet insurance alone does not alleviate this anxiety–and in fact, respondents who only have pet insurance are more distracted at work when their pet is unwell: 66% report being extremely distracted. But among respondents who have both pet insurance and pet wellness, the percentage drops to 29%.
“The data clearly shows that employees are grappling with balancing work responsibilities and caring for their pets,” says Christie Horvath, CEO and founder at Wagmo. “Providing comprehensive pet care benefits, including wellness plans, can help reduce workplace distractions, improve productivity, and support employee well-being.”
The Rising Costs of Pet Care
Pet-related stress at work comes at a time when pet-related expenses are at an all-time high. According to research from the Bureau of Economic Analysis, Americans spent $186 billion on their pets in 2023 – more than they spent on childcare. And as of 2022, there are more U.S. households with pets (70%) than children (40%), according to the U.S. Census.
Wagmo’s survey finds that 57% of working pet parents have spent over $1,000 on emergency and routine pet care in the last year, with 35% spending more than $2,000, and 15% exceeding $5,000. These rising expenses are among the top pet care pain points, with the cost of veterinary care cited as the number one challenge (30%), followed closely by keeping up with routine and preventative care needs (28%). The cost of care weighs more heavily on working pet parents without pet insurance or pet wellness, cited by 56%.
To help manage the stress of costs, more than half (54%) of survey respondents have purchased pet insurance, and 44% have purchased pet wellness plans, which cover everyday care needs such as vaccinations and annual check-ups. However, only 24% have both pet insurance and pet wellness coverage.
While Wagmo’s survey results suggest mainstream adoption of pet insurance, market penetration across the U.S. remains low: Fewer than 3% of animal companions in the U.S. have coverage, data from the North American Pet Health Insurance Association shows. The population surveyed by Wagmo solely represents full-time employees, and skews younger, with 50% of respondents aged 44 or younger. Notably, among survey respondents aged 60 or older, just 26% report having pet insurance, and even fewer (20%) report having a pet wellness plan.
As millennial and Gen Z employees increase as a percentage of the U.S. workforce, employers will need strategies to support the new generation of pet parents. Pet wellness plans represent an emerging opportunity for companies to do just that. Working pet parents see the greatest value in the regular access to care wellness plans provide: Ensuring quality care ranks as the top advantage of having a wellness plan, cited by 36% of respondents. Other top advantages cited include saving money (30%) and fast reimbursement (18%).
Pet Benefits: A Deciding Factor for Job Offers
The survey underscores the role of pet-related benefits in talent acquisition and retention. Sixty-five percent of working pet parents state that benefits are an important consideration when evaluating a job offer, and nearly half (47%) say they are very important. As competition for top talent intensifies, pet-related benefits will be a deciding factor in attracting and retaining employees.
“As employers strive to create more inclusive workplaces, they shouldn’t overlook the pet parent demographic,” adds Horvath. “We’re seeing more companies focus on providing benefits for the whole family–including pets–to better support employees from all walks of life.”
Methodology
The survey was conducted online via SurveyMonkey with a nationally representative sample of 1,018 full-time employees with cats and/or dogs as pets. It explored key challenges faced by working pet parents and the impact of pet-related benefits on workplace attendance and productivity.
About Wagmo
Wagmo is a leading provider of customizable pet wellness plans, offering comprehensive coverage and innovative benefits to pet owners. With a mission to improve the lives of pets and their owners, Wagmo is committed to empowering and inspiring responsible pet parenting. Visit Wagmo.io or follow us on LinkedIn to learn more.
