DMV employers jump on pet benefits trend for fur baby parents
The big picture: As people continue to delay having children, more owners are considering their fuzzy offspring part of the fam.
94 million American households have a pet, per the American Pet Products Association, and they'll spend a projected $41.4 billion this year on vet care and pet products.
State of play: Tysons-based Hilton offers pet insurance and, starting next month, employees will be able to access pet services through its concierge partnership with Wellthy, a spokesperson tells Axios.
Think: help finding groomers, vets, boarding spots or doggie-friendly housing. Or, assistance setting up recurring food or prescription deliveries, or with understanding pet insurance claims.
Companies with local footprints like Adobe, Blue Cross Blue Shield, John Hancock, Lyft and Workday partner with pet care group Airvet for free 24/7 virtual vet help and discounts on pet insurance, wellness plans, and backup care via resources like Rover, an Airvet spokesperson says.
And at Google, workers can bring their furry pals (aka Dooglers) to the office and get discounts on pet insurance through the group Perks at Work, a spokesperson tells Axios.
The intrigue: The number of D.C.-area clients Airvet works with jumped 267% between 2023 and 2024, per the spokesperson.
What they're saying: Finding a company where pets are supported as part of an employee's family can be a deciding factor for some when choosing a gig, Airvet CEO Brandon Werber says.
Many of Airvets' clients say their pet benefits are the highest used and fastest growing option they offer outside of regular health insurance, Werber tells Axios.
While offering these types of benefits is a good way for companies to attract and retain the Gen Z and Millennial fur baby parents, says Werber, the appeal has been far more wide reaching than they expected.
By the numbers: 32% of fur parents said having pet benefits would incentivize them to stay at their job, or to look for another that offers them, according to a 2021 survey led by Nationwide.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
39 minutes ago
- Business Insider
Nvidia Stock (NVDA) Trembles as Chinese Ramp Up Pressure on Chip Security Fears
Nvidia (NVDA) stock dropped 2% today as a war of words over security risks erupted between it and Chinese authorities. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Security Proofs The semiconductor giant was warned that it must produce 'convincing security proofs' to eliminate Chinese users' worries over security risks in its chips and 'regain market trust.' That is according to a commentary published in China's state-run media People's Daily. Foreign companies must comply with Chinese laws and take security to be a basic prerequisite; the commentary said. It comes 24 hours after The Cyberspace Administration of China (CAC) summoned Nvidia to explain 'backdoor security risks' of its H20 chips sold in China and submit relevant documents. The move is reportedly aimed at 'safeguarding the network and data security of Chinese users' after comments from American AI experts suggested that Nvidia's chips have location tracking and can remotely shut down the technology. It is not clear who these experts are and if China has undertaken its own tests into the chips. Nvidia came out fighting telling Reuters that: 'Cybersecurity is critically important to us. NVIDIA does not have 'backdoors' in our chips that would give anyone a remote way to access or control them.' It is understood that company representatives have already been interviewed by the CAC. It comes at an important time for Nvidia and its relationship with China, which is a key part of its overall revenues. China Crisis Earlier this month, Nvidia said that it could resume its H20 AI chip sales in China, months after the U.S. Commerce Department put export restrictions on the chips amid ramped-up U.S.-China tariff trade tensions. Nvidia estimated that the ban had cost it a huge $15 billion in lost sales. The chip was specially designed for Chinese customers to meet U.S. export rules and has been a top seller in the country since 2024. Nvidia has also introduced a new AI chip for China. The model is designed for use in factory automation and logistics and is built on the company's advanced Blackwell architecture. If security fears are confirmed, then this could have a detrimental impact on the Nvidia share price which has performed well this year. In 2023, the CAC said products from semiconductor group Micron Technology (MU), failed a national security review, resulting in a sales ban of its products to key infrastructure operators in China. Is NVDA a Good Stock to Buy Now? On TipRanks, NVDA has a Strong Buy consensus based on 34 Buy, 3 Hold and 1 Sell ratings. Its highest price target is $250. NVDA stock's consensus price target is $185.79, implying a 4.45% upside.
Yahoo
an hour ago
- Yahoo
Is Stanley Black & Decker (SWK) One of the Best Income Stocks for Conservative Investors?
Stanley Black & Decker, Inc. (NYSE:SWK) is included among the 11 Best Income Stocks to Buy According to Hedge Funds. A toolbox filled with an array of different tools, representing the professional products of the company. Stanley Black & Decker, Inc. (NYSE:SWK) is an American manufacturer known for its industrial tools, home hardware, and security products. The company is in the midst of a steady yet impactful transformation. It has already completed $1.7 billion of a planned $2 billion cost-reduction effort, resulting in a rebound in gross margins to 31.2%, which is a 1,200-basis-point improvement from the low point. At the same time, operating leverage is strengthening, and inventory levels are declining. While Stanley Black & Decker, Inc. (NYSE:SWK)'s Tools & Outdoor division accounts for 87% of its revenue, the smaller Engineered Fastening segment plays a key role in areas like aerospace, automotive, and industrial production. Despite its strong market position and ties to reshoring, infrastructure, and automation trends, the stock is still down more than 69% from its 2021 peak and trades at under seven times its peak free cash flow. Stanley Black & Decker, Inc. (NYSE:SWK) has paid uninterrupted dividends to shareholders for the past 148 years. On July 24, it declared a 1.2% hike in its quarterly dividend to $0.83 per share. This marked the company's 59th consecutive year in which it has raised its dividends. The stock supports a dividend yield of 4.91%, as of July 31. While we acknowledge the potential of SWK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
Yahoo
an hour ago
- Yahoo
Realty Income Corporation's (O) Dividend History Makes It a Solid Income Stock
Realty Income Corporation (NYSE:O) is included among the 11 Best Income Stocks to Buy According to Hedge Funds. Aerial view of high-rise buildings representing the investing and ownership of Equity Real Estate Investment Trust. Realty Income Corporation (NYSE:O) is an American real estate investment trust company. The company's broad and varied portfolio produces steady and increasing cash flow, which supports both dividend payments and the growth of its global real estate holdings. Realty Income Corporation (NYSE:O) has also moved into credit investments, such as real estate loans and preferred equity, and is introducing a private capital fund management platform. These new initiatives are creating additional investment opportunities. Backed by one of the strongest financial foundations in the REIT industry, the company is well-positioned to keep growing its portfolio while also boosting earnings and dividends. Realty Income Corporation (NYSE:O) is committed to providing shareholders with reliable monthly dividends that increase over time, a goal it has consistently met. Since going public in 1994, the company has paid 661 consecutive monthly dividends and raised its payout 131 times. It has increased its dividend every quarter for 131 straight quarters and maintained annual dividend growth for 30 consecutive years. It currently pays a monthly dividend of $0.269 per share and has a dividend yield of 5.75%, as of July 31. While we acknowledge the potential of O as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None.
