• Developing a Parental Leave Policy for Your Business

  • 2021/08/23
  • 再生時間: 8 分
  • ポッドキャスト

Developing a Parental Leave Policy for Your Business

  • サマリー

  • The U.S. is one of the only industrialized countries without a national paid leave policy for parents.

    Although, companies with >50 employees must comply with FMLA by providing up to 12 weeks of unpaid maternity leave. And while few states have a publicly-funded disability program (CA, MA, NJ, RI, or NY), no federal or state law requires companies to pay for parental leave for employees.

    While larger companies have begun to voluntarily expand paid leave policies, offering competitive parental leave benefits is a challenge for small businesses who may not have the financial or labor resources to do so. This is where business owners may have to get creative.

    Here are 5 strategies for building a parental leave policy for your business:

    1. Utilize Short-Term Disability 
    2. Offer paid time off 
    3. Use flex hours
    4. Allow work from home
    5. Give unpaid time off

    It goes without saying that these strategies may not work for all businesses, but developing a combination of these 5 to fit your line of business can improve employee wellbeing, satisfaction, retention, and morale, while also enhancing overall company culture.


    Find the blog version of this podcast at LuminaryWealth.com
    Or check out the video version of this podcast on our YouTube channel
    Follow us on Instagram @luminary.wealth
    Let's connect on LinkedIn

    Disclaimer:
    This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

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あらすじ・解説

The U.S. is one of the only industrialized countries without a national paid leave policy for parents.

Although, companies with >50 employees must comply with FMLA by providing up to 12 weeks of unpaid maternity leave. And while few states have a publicly-funded disability program (CA, MA, NJ, RI, or NY), no federal or state law requires companies to pay for parental leave for employees.

While larger companies have begun to voluntarily expand paid leave policies, offering competitive parental leave benefits is a challenge for small businesses who may not have the financial or labor resources to do so. This is where business owners may have to get creative.

Here are 5 strategies for building a parental leave policy for your business:

  1. Utilize Short-Term Disability 
  2. Offer paid time off 
  3. Use flex hours
  4. Allow work from home
  5. Give unpaid time off

It goes without saying that these strategies may not work for all businesses, but developing a combination of these 5 to fit your line of business can improve employee wellbeing, satisfaction, retention, and morale, while also enhancing overall company culture.


Find the blog version of this podcast at LuminaryWealth.com
Or check out the video version of this podcast on our YouTube channel
Follow us on Instagram @luminary.wealth
Let's connect on LinkedIn

Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

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