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December 19, 2024
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Family leave has become a crucial issue for the multigenerational workforce of today. Many professionals are finding it difficult to balance work and family responsibilities, and the lack of comprehensive family leave policies only exacerbates this problem.
Companies are coming to the conclusion that offering family leave benefits to their employees helps reduce stress, improve productivity, and ultimately lead to a more sustainable and satisfied workforce. Whether it’s parental, caregiving, or sick leave for family members, companies are prioritizing family leave to gain a competitive edge in attracting and retaining the best talent.
In short, family leave is no longer a luxury, but a necessity in today’s corporate landscape. Here’s what other publications care to share on the trending topic:
Parental leave for grandparents is gaining more attention as the workforce continues to age and expand. As more working grandparents are taking on caregiving responsibilities for their grandchildren, it is essential to provide them with leave benefits that will allow them to balance professional and personal responsibilities effectively.
As Emily McCary-Ruiz-Esparza touches on in her piece for Quartz, many companies are starting to recognize the importance of grandparental leave and are offering it as part of their family leave policies. By providing family leave for grandparents, companies can show that they value the important role that grandparents play in their organization and their families.
“For some companies, expanding parental leave has become an opportunity to include grandparents in family care policies.”
Quartz
“Grandternity leave,” as some are branding it, is a perk that’ll help reduce childcare costs for families while allowing workers to participate in important milestones with loved ones. Emily expresses the attainable requirement of expanding the limitations of parental leave to family leave as grandparents continue to make up a key part of the workforce and will continue to do so in the foreseeable future.
David Vergun with DOD News recently wrote on a new policy providing extended parental leave for military families, a critical action taken after addressing feedback from service members. Family leave in the military has always been a significant benefit, allowing a balance of service obligations and personal needs.
“Our people deserve the best care to ensure they and their families are resilient in the conduct of our mission.”
US DOD
The military recognizes the importance of family support and offers several types of leave, including maternity and paternity, adoption, and caregiver leave. Service members can also take leave to care for a family member who is seriously ill or injured.
The leave extension initiative provides 12 weeks of parental leave in addition to the typical six weeks of maternity convalescent leave for birth parents. The new policy also allows for multiple, nonconsecutive increments, contributing to more flexibility for service members. Where those in the military may have concluded their service upon the birth of a newborn, this policy reinforces the support adequate for the sacrifices service members continuously make for the country.
SHRM’s article on the uptick in paid leave benefits by Kathryn Mayer provides a base for the predicted boost in parental leave programs in 2023. As families are a focal point in today’s modern working world, it is evidently impacting business as well.
Though leave benefits placed third on their Employer-Ranked Importance of Benefit Categories table list, it still reached 81% favorability along with retirement savings and planning benefits. In fact, a survey from just this past November “found that workers would rather their employer offer paid parental leave than an array of other benefits…” Considering this highly desirable benefit, companies are quickly complying with the request.
“Significant strides have been made in parental leave and family leave benefits programs over the past year, signaling that employers are getting serious about supporting employees in their home lives as well as their work lives, according to the 2023 SHRM Employee Benefits Survey.”
SHRM
The rise in demand for parental leave serves as an opportunity for organizations to express their care for employees with families, helping them feel valued and supported. Family responsibilities can be challenging to balance with work obligations, and knowing that an employer understands and appreciates the needs of a family unit can make a big difference. Employees who feel supported are more likely to be productive and engaged at work, which benefits both the employee and the organization.
Parental leave is a dominating perk related to flexibility and health care. Companies are committing to family-friendly policies and benefits to help attract and retain top talent and create a positive reputation and environment for their workforce. Understanding family needs from an employee point of view sets the stage for discussion and initiatives related to progressive benefits changes to come.
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