ObjectiveTo inform policy supporting the retention of family physicians (FPs) in the perinatal care workforce by identifying physician characteristics that are associated with retention.Data Sources and Study SettingWe surveyed FPs who had been in practice for at least 11 years and reported attending deliveries as part of their practice.Study DesignWe compared the characteristics of FPs who continue to provide perinatal care to those who have ceased and explored their reasons for no longer attending deliveries.Data Collection/Extraction MethodsWe estimated a probit regression with the dependent variable: whether the physician currently delivers babies. Open‐ended survey responses were analyzed and close‐coded using a conceptual content analysis approach.Principle FindingsOf the FPs who received a survey, 1505 (37%) responded. Those who continue attending deliveries were more likely to receive a stipend or be paid per hour/shift in addition to their salary versus those paid a salary (percentage point difference = 13), and less likely to work part‐time versus full‐time (percentage point difference = −20). Those who ceased attending deliveries cite lifestyle (n = 208), call structure (n = 113), and delivery volume (n = 89) among the reasons for doing so.ConclusionsEvidence‐based policies aimed at preventing attrition from the perinatal care workforce, which might include targeting compensation models and work–life balance.