However, guardian and carers are aware of the challenges which need to be addressed in terms of balancing work and caring roles.
Finding employees who recognize parents’ special requirements from paid maternity leave to quality health care insurance and equal pay that covers child care costs has become a leading priority for workers.
Without federal oversight of workplace benefits like paid leave and caregiving policies, business leaders are being asked to provide leadership.
Partner Just Capital analyzed policy disclosures by America’s largest companies to identify the best options for these employees.
“Americans know what they want from firms: their workers”, said Alison Omens, the President at Just Capital.
Just Capital’s most popular companies among parents
According to Just Capital, Dex Outdoors is top on the list followed by American Express then Goldman Sachs, S&P Global and Splunk 2024 research showed that these firms are preferred more than others as they have taken into account the needs of families.
All five businesses provide 20 weeks or more of paid parental leave for primary and secondary caregivers as well as equal parental leave across all caregivers plus subsidized backup dependent care programs.
“The pandemic has made very clear what working parents – particularly mothers who are disproportionately involved in providing care – need: this is their paid parental leave,” Omens stated. “
The company with one of the longest-lasting plans for paid maternal vacations happens to be S&P Global; it extends up to twenty-six weeks. After having a second child this year- Mario Washington says he took time off together with his wife Lauren, who also works at Decker Outdoor, a company they felt had a great impact on family dynamics. When I first left my son home alone after delivery in childbirth it was really difficult”. Mario’s support helped our oldest daughter transition from being an only child into being a big sister while I was left responsible with looking after our newborn girl as well as my own healing process.”
However, there has been some heated debate within the staffing sector around paid parental leave being too expensive. The Society for Human Resource Management (SHRM) classified “direct cost” as employee salaries while on leave. SHRM believes that employers already budget for payroll.
“Indirect costs” include lost productivity while employees are away, temporary replacements, and the expenses involved in administering the paid leave program.
According to Yvette Lee, HR knowledge advisor at SHRM, “Paid parental leave is an expensive proposition.” However, losing key talent can be even more costly.
Lee said companies’ investments in paid parental leave and other parent policies may make sense in the long run.
Many of these companies are working to ensure fairness in the workplace for all employees.
Deckers Outdoor aims for gender parity in leadership positions by 2030, and Goldman Sachs has set recruitment targets for 50% and 40% of women in junior and senior management positions respectively.
“We invest in our people because we believe that they will make our companies successful,” mentioned an S&P Global spokesperson.
