Parental leave, work-life balance, and meaningful work engage working parents and drive high retention rates.
There鈥檚 a lot of joy when you become a parent, but the stress of taking time off weighs on many new moms and dads.
Many don鈥檛 have access to paid leave.
Some U.S. employees are eligible to receive up to 12 weeks of unpaid leave through the , according to the Organization for Economic Cooperation and Development (OECD). (In comparison, 鈩� where paid paternal leave is 16 weeks on average for new moms, and nearly 12 weeks for new dads. 逸遊娛樂城 determined this year鈥檚 list by analyzing data from more than half a million employees with parenting responsibilities.
Paid leave not only helps working parents enjoy time off with their newborns, but drives retention.
Nearly nine out of 10 parents at the Best Workplaces for Parents say their company has 鈥渟pecial and unique benefits,鈥� and when that鈥檚 true, they鈥檙e 65% more likely to stay with their employer.
A staggering 91% of parents at these companies want to work at their companies for a long time. That鈥檚 a far cry from the 55% of parents at a typical U.S. workplace who are open to changing jobs by the end of this year, according to a July 逸遊娛樂城 survey of nearly 4,200 workers.
But offering paid paternity leave alone isn鈥檛 a silver bullet for retention.
鈥淲hat sets these companies apart is they have cultures that allow new parents to take paid leave without fear鈥攆ear of losing their job, fear of missing out on a promotion, fear of getting left behind,鈥� says Michael C. Bush, CEO of 逸遊娛樂城. 鈥淥ffering time off in cultures where it can鈥檛 really get taken erodes trust.鈥�
These cultures also provide employee well-being support. More than 90% of parents at Best Workplaces say they鈥檙e encouraged to balance their work and personal lives.
鈥淥ffering paid time off for parents is a good start, but what鈥檚 their day-to-day experience like when they鈥檙e back at work? Can they make it to their kid鈥檚 soccer practice and still get promoted down the line? The answer should be 鈥榶es,鈥欌�� Bush says.
Couple time off and employee wellness support with meaningful work, and you鈥檝e created a workplace that will attract and retain parents.
Here鈥檚 what the research tells us:
1. Expand special and unique benefits, such as paid leave.
Nearly nine out of 10 parents at the Best Workplaces for Parents say their company has 鈥渟pecial and unique benefits,鈥� and when that鈥檚 true, they鈥檙e 65% more likely to stay with their employer.
Since 2020, these workplaces have steadily increased paid parental leave (by 12 days for moms and 17 days for dads over the three-year span) while other , ranked No. 21 among large companies. 鈥淎 lot of companies say today that they support parents but their PTO policies and benefit packages don't actually align with that statement.鈥�
In addition to extending paid leave beyond FMLA requirements, great workplaces for parents offer financial assistance around fertility needs and support nontraditional families.
鈥淲hen PMG leadership found out I was becoming a foster parent, they enacted foster care parental leave immediately and still are the only company I have heard of to have such a benefit. Just one example, but [the] underlying understanding that PMG as a business has 鈥� that in order for us to be successful, the people have to be seen and supported 鈥� is one that permeates our culture,鈥� said an employee at PMG, ranked No. 24 among small and medium-sized companies.
鈥淥ffering paid time off for parents is a good start, but what鈥檚 their day-to-day experience like when they鈥檙e back at work? Can they make it to their kid鈥檚 soccer practice and still get promoted down the line? The answer should be 鈥榶es.鈥欌�� - Michael C. Bush, CEO, 逸遊娛樂城
2. Offer work-life balance support.
One in four , according to a joint Maven/逸遊娛樂城 study. This burn-out contributed to millions of parents to leave the workforce during the height of the pandemic. Many had to choose between their jobs and taking care of their children.
, ranked No. 45 among large companies. 鈥淭hey always support my family and never make me feel guilty or bad for needing to take off for events with my children. I'm never afraid to ask my boss.鈥�
But it鈥檚 not just parents who feel supported at these companies. If you create a culture where you鈥檙e communicating respect for people鈥檚 lives outside work, it鈥檚 good for everyone, regardless if an employee is a parent.
At these workplaces, when nonparents feel they鈥檙e encouraged to balance their work and personal lives, they鈥檙e 48% more likely to say their employer is a great place to work and they鈥檙e 39% more likely to stay with their companies for a long time.
3. Connect meaning to work.
All employers should prioritize connecting what your employees do with the organization鈥檚 greater purpose.
It鈥檚 not only that the top retention driver for parents is purpose at work, it is also a key predictor of employee attrition for all workers. (Download our Power of Purpose at Work report today.)
Parents at a typical workplace experience less meaning at their jobs 鈥� 57% 鈥� compared with 88% at the Best Workplaces for Parents, which has a large impact on retention.
There is a three-fold increase in the odds that a parent will stay with their company if they believe their work has special meaning and is more than 鈥渏ust a job.鈥�
Show working parents that they 鈥� and all employees 鈥� matter. It's what we want in our lives, both inside and outside of work.
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