WHAT’S THE BUSINESS CASE FOR PAID FAMILY LEAVE?
A new Boston Consulting Group report makes the case that organizations that offer paid family leave see higher retention rates, better results from employee recruitment, and improved morale—especially since relatively few employers offer the benefit at this time.
What does the furniture retailer IKEA have in common with the U.S. Department of Defense?
If you answered “similar taste in decor,” you’re wrong, unless IKEA recently started offering its Kivik couches with a camo print. But if you guessed that they both offer their employees paid family leave, you’re on the right track.
A new Boston Consulting Group report [PDF] on the subject of paid leave calls out the two employers for offering the benefit, which tends to be uncommon in some industries. The BCG report, written from the perspective that paid family leave is unlikely to become federal law anytime soon, instead makes the case that the added cost pays for itself in other ways.
“Though the benefits can be hard to measure, companies report that the payoff from offering paid family leave exceeds the costs,” the report states. “And companies report that they are able to manage the cost of their programs through thoughtful design.”
Click here to view the key points from the report