Armi Noorata
Global Head of Total Rewards
Fireblocks
Episode 381
Unlock Loyalty: Why Growth and Purpose Outweigh All Your Benefits
Current chapter: Covering monthly expenses is the number one concern for employees in 2024
Built By PeopleDecember 5, 2024 · 16:59
Thesis
“Strategic total rewards, encompassing both monetary and non-monetary benefits like family-forming support and financial wellness programs, are vital for attracting and retaining talent. However, true employee loyalty and dedication are ultimately fostered by investment in individual growth and a strong sense of organizational purpose.”
Show notes
Seventy-five percent of individuals facing fertility challenges report that it impacts their productivity at work. Sixty-eight percent say they would switch jobs for better fertility benefits. Those aren't soft statistics—they're retention and productivity data. Armi Noorata, Global Head of Total Rewards at Fireblocks, has built her approach to benefits around numbers like these.
Noorata's career arc is as unconventional as her benefits philosophy: beauty therapist → backend web developer → HR coordinator → compensation analytics → Total Rewards leader at a crypto infrastructure company. Each pivot was driven by openness to opportunity rather than a master plan, and that same orientation shapes how she thinks about the future of benefits: employers who are willing to expand their definition of what they offer—beyond traditional packages toward family-forming support, financial wellness coaching, gamified savings tools, and eventually, perhaps, housing market assistance—will outcompete those who don't.
At Fireblocks, the family-forming benefits are intentionally broad: fertility treatments, IVF, IUI, surrogacy, adoption, and mental health support through the fertility process are all covered. Her point is important: family forming means different things to different employees, and a narrow definition excludes the people who need it most. On financial wellness, the model is similarly layered—personalized coaching plus a gamified savings tool that incentivizes the saving behavior most employees don't maintain on their own. Her parting line is one worth keeping: "Total rewards will make people stay a while. Growth and purpose makes them go that extra mile."
- Family-forming benefits as a retention and productivity lever: the data that makes the business case undeniable
- Defining "family forming" broadly—fertility, IVF, IUI, surrogacy, adoption, and mental health through the process
- Financial wellness beyond a 401(k): personalized coaching and gamified savings tools that address how employees actually behave
- Future trends in benefits: AI-enabled personalization, household assistance, and housing market support as emerging frontiers
- Maximizing benefit ROI: awareness campaigns, utilization tracking, and analytics to assess program effectiveness
- Monetary vs. non-monetary rewards: why growth and purpose drive discretionary effort beyond what compensation alone can produce
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What you'll take away
- 1Embrace change and be open to opportunities outside your comfort zone, as they can unlock unexpected career paths and valuable learning experiences.
- 2Comprehensive family-forming benefits are a 'game-changer' for employers, directly impacting employee productivity, attraction, and retention by addressing significant personal and financial burdens.
- 3Implement robust financial wellness programs (education, coaching, gamified savings) as financial worries significantly decrease employee engagement and productivity.
- 4Future total rewards strategies will prioritize flexibility, personalization, and employee needs, potentially expanding to include non-traditional benefits like household chore assistance or housing market support.
- 5Maximize the impact of your total rewards by ensuring employee awareness, gathering regular feedback, utilizing data analytics to assess effectiveness, and balancing monetary offerings with opportunities for growth and purpose.
What most organizations get wrong
- •Family-forming benefits should not be viewed merely as an altruistic gesture but as a strategic business investment with measurable returns in productivity, attraction, and retention.
- •The scope of employer benefits is rapidly expanding beyond traditional offerings, with future trends possibly including assistance with daily errands or even support for employees entering the housing market.
In Armi's words
“75% of individuals facing fertility challenges have said that it impacts their productivity at work.”
This statistic highlights the direct business impact of personal challenges, justifying investment in family-forming benefits.
“68% of participants... said they would switch jobs for better fertility benefits, which is which is a mind-blowing number.”
This demonstrates the powerful role specific benefits play in attracting and retaining talent in a competitive market.
“It's important to not pigeonhole what family forming would be because for different people it's different things and issues.”
This emphasizes the need for a broad, inclusive, and flexible approach to family-forming benefits to cater to diverse employee needs.
“Total rewards will make people stay a while, but growth and purpose makes them go that extra mile.”
This memorable quote encapsulates the guest's holistic view on employee motivation and retention, distinguishing between basic satisfaction and profound commitment.
“You just need to be open to opportunities. If somebody gives you an opportunity to do something that seems a bit out of your comfort zone, like joining a podcast, for example, you should take the opportunity.”
This reflects the guest's personal philosophy of embracing new experiences as a driver for career and personal growth.
The problems this episode addresses
- •Employees' primary concern is covering monthly expenses, leading to decreased engagement and productivity in the workplace.
- •Fertility challenges significantly impact employee productivity, with 75% reporting a negative effect on their work.
- •There's a high risk of employee turnover (68% would switch jobs) if competitors offer superior family-forming benefits.
- •Employees are often unaware of the full spectrum of benefits available to them, reducing the perceived value of an organization's investment in total rewards.
- •Many employees lack consistent saving habits beyond retirement plans, exacerbating financial stress.
- •The difficulty for individuals to afford housing represents a major life challenge that companies could potentially help address.
In this episode
Covering monthly expenses is the number one concern for employees in 2024
Built by People
I'd like to welcome Armi to the Built By People podcast
Armi on The Built By People Podcast
Amrit says you need to be open to new opportunities in your career
The Secret to a Career Journey
I want to talk about family-forming benefits for the workforce
Employer Family-
Your organization offers assistance towards family forming through financial assistance
Employment Family-Forming Benefits
Financial wellness is increasingly important for employee well-being
FireBlocks Financial Well-Being Program
Any trends that you're seeing in the financial wellness or family forming benefits space
Are Companies Ready to Assist Employees With Family Feasibility?
To stay competitive in total rewards, organizations should focus on three things
Total Rewards: How to Keep Employees Happy
Topics covered
Organizations and entities mentioned
Full transcript
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