Can a $300 baby sleep device get parents back into the office? Owlet hopes so.

Could a $300 baby sleep device be key to retaining working parents?

The maker of one such product, Owlet, certainly hopes so. The Owlet Dream Sock monitors babies’ pulse rates and oxygen levels while they sleep, and sends parents notifications if these levels are out of range. It’s a much-coveted item on baby registries, and it’s pricey, retailing at $299.99.

Now, the Lehi, Utah-based company is pitching its products to employers at a discount if they cover part of the cost for their employees.

High stakes. Sleep deprivation can persist for years after parents have children, and in turn affect work productivity and performance, research suggests.

“Employers actually have a big stake” in workers’ experiences as new parents, given they can affect “the ability for that employee to get back to work, to contribute at the same level they were before at work with all the new stresses and things they're going through,” Kurt Workman, Owlet’s co-founder and CEO, said.

While Workman didn’t provide details on how much Owlet products will cost employers who cover it through their benefits program, he said they can be more creative with pricing through this scheme than they can on the direct-to-consumer market.

Owlet plans to offer a whole suite of products to families through its employer benefits program, including the sock as well as the dream duo, which includes a camera monitoring system. The company is planning to launch a telehealth platform as well. Employers will decide what share of the cost of these products they’ll reimburse, Workman said.

VGM Group plans to cover 100% of the cost of the Owlet for eligible employees, according to Sara Laures, chief people officer of the healthcare business services firm based in Waterloo, Iowa. She estimates VGM will spend about $10,000 annually on the benefit.

Given two-thirds of VGM’s workforce identifies as female, and one-half are under the age of 39, the investment makes sense, Laures told us. Around 50 to 60 VGM employees typically have babies each year. Offering the Owlet “just signals that we see the whole person, the whole family, and not just the employee as a worker,” Laures said.

What keeps parents working?. Workman said Owlet hopes offering its product as an employee benefit will help drive retention by giving parents peace of mind when they leave home.

“A lot of women don’t come back to work, and if they’re getting these benefits, they feel supported at home,” he said.

For total rewards teams that are serious about retaining working parents, prioritizing investments like paid parental leave, childcare, and flexibility may prove important, as well.