Working parents, guardians or carers know the challenge of finding the difficult balance between work and care responsibilities.
From paid parental leave to quality medical health insurance and equal pay to cover childcare costs, finding an employer that takes parents' unique needs into consideration has turn out to be a priority for workers.
With no federal oversight of workplace advantages like paid leave and care, business leaders are being asked to take the lead.
CNBC partner Just Capital checked out the policy disclosures of America's largest corporations to seek out the most effective corporations within the country that meet these requirements.
“Americans are very clear about what they believe companies should prioritize: their workers,” said Alison Omens, president of Just Capital.
Top Companies for Parents
Goldman Sachs, American Express, Decker's Outdoor, S&P Global and Splunk are the highest corporations for fogeys in 2024, in keeping with Just Capital research.
All five corporations offer the next advantages: 20 or more weeks of paid parental leave for primary and secondary caregivers; Equality of parental leave for all carers; and support subsidized look after their employees.
“What the pandemic brought to light, and remains true today, is that for working parents, especially mothers who provide a disproportionate amount of care, paid parental leave is an important part,” Omens said.
S&P Global offers 26 weeks of paid parental leave. Company employees and couple Lauren and Mario Washington told CNBC that shared parental leave had a profound impact on their family's dynamics and well-being after the birth of their second daughter in 2021.
“These first few weeks seem fleeting, but they have noticeably improved our family’s balance and relationship,” Lauren said. “Mario's dedication helped our oldest daughter grow from an only child to a big sister and helped me focus on caring for our newborn and my own recovery.”
However, HR has a special perspective on the impact of parental leave on business. The more “direct cost,” in keeping with the Society for Human Resource Management (SHRM), is an worker’s salary over the variety of weeks of vacation. SHRM argues that employers' salaries are already accounted for of their budgets.
The “indirect costs” are the lack of productivity while an worker is on leave, temporary alternative and costs of administering a paid leave program.
“Paid parental leave is an expensive proposition,” said Yvette Lee, HR knowledge consultant at SHRM. “But turnover of key talent can be even more costly.”
Lee said investing in paid parental leave and similar measures could make sense in the long term.
Many corporations have introduced measures to make sure equal opportunities within the workplace for all employees.
Deckers Outdoor is aiming for gender parity in leadership positions by 2030, and Goldman Sachs has set a hiring goal of fifty% and 40% for hiring women in entry-level and leadership roles, respectively.
“We invest in our success as a company by investing in our people,” said an S&P Global spokesperson.
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