SEATTLE, June 8, 2017 / PRNewswire/ — The Paid Leave Project today released a comprehensive Playbook that helps companies build a business case for offering paid family and medical leave to all employees. The Paid Leave Project is a new initiative from Panorama, a non-profit action tank working to solve global problems through audacious thinking and bold action.

The Playbook is based on research by Panorama and The Boston Consulting Group, which reviewed the paid leave policies of more than 250 companies and interviewed 25 human resource leaders at large organizations. The Playbook makes a complicated topic easier to grasp, breaking down common misperceptions about paid leave. “The Playbook addresses one common myth employers face, that offering paid leave benefits costs companies too much money. Our research demonstrates otherwise,” said Angela Romei, director of Panorama’s Paid Leave Project. “This is good news for employers and employees.” Using the Playbook, a company can:

• Learn about paid family and medical leave in the United States: what it is, how it works, and what other companies are doing.
• Assess its own approach to paid leave, evaluate the business benefits and estimate potential costs.
• Design paid leave benefits, including employee coverage, leave duration, pay and program structure.
• Craft a winning case that will persuade internal decision-makers and senior leadership.
• Implement a paid leave program, from announcement to roll-out.
• Take advantage of a library of downloadable resources, including tools to help calculate costs and savings, case studies, FAQs and expert research.

New Playbook helps companies build business case for paid leave programs

Many companies provide no more than the unpaid leave required by the Family Medical Leave Act. The goal of The Paid Leave Project is to increase access to quality paid family and medical leave in the U.S., and a comprehensive Playbook is one way to help. Panorama is working directly with companies to help them build a business case for paid leave programs that enable them to stay ahead of their competition and attract and retain the best employees.

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Check out this video from the 2017 Makers Conference as the panel discusses the impact of Paid Leave on businesses.

A growing number of companies are moving to provide paid family leave for their US employees — and they’re not all in industries you might expect. In addition to technology, financial services, and professional services firms, such organizations include food and beverage manufacturers, retail and food services companies, and even a government agency. Moreover, while paid family leave has traditionally been available only to birth mothers, companies are now making their policies much more expansive (covering all types of employees) and inclusive (covering all parents, all types of families, and a variety of personal events, such as the illness of a family member).

The employers we reviewed all see clear business benefits in providing paid leave.

While the trend toward providing paid family leave — either for the first time or with improvements to an existing policy — is well documented, it is not always clear why these organizations have decided to offer this benefit to their workers. To better understand this phenomenon, BCG examined policies across more than 250 companies and conducted interviews with 25 HR leaders at large organizations, as well as with representatives from business associations, advocates of paid family leave, and union leaders.

We found one common thread among the employers we reviewed: they all believe that paid family leave is good for their workers — and they see clear business benefits in providing it. They find that it makes employees more likely to remain with the company following critical life experiences, such as having a child or caring for an ill family member, and that it helps the company cultivate better employee talent, engagement, morale, and productivity. Paid family leave is also a way for companies to signal their values—their commitment to inclusion and diversity or overall support for their employees and a balanced work-family life. The benefit confirms those values internally and can also burnish the company’s brand externally. Moreover, the employers we studied have found ways to manage the costs of paid family leave through thoughtful design.

Certainly, not every organization will conclude that it makes sense to cover the costs of paid family leave, and a national policy would almost certainly be required to provide full and equal access to paid family leave for all US workers. But there is mounting evidence that those that do stand to reap sizable and lasting benefits.

View the complete report from The Boston Consulting Group (BCG)

We’ve never doubted that paid family leave is good business — but the Boston Consulting Group (BCG) has recently released a report that shows just how good it is.

Like Fairygodboss, where we track which employers are improving their paid leave policies, the BCG team has taken note of this trend. To get a better sense of why companies are moving in this direction, BCG analyzed the policies of more than 250 mid- and large-size companies and spoke to 25 HR leaders at large organizations.

What did they conclude? Employers find that there’s a strong business case for providing paid family leave for a variety of reasons, including improved talent retention and attraction.

The goal of BCG’s report is to make this information more accessible to companies that are considering updating their policies. When the team did case work on paid family leave, oftentimes companies reported that when they looked into restructuring their paid family leave policies, they spent a lot of time just trying to figure out what was going on in the market.

“We wanted to provide a synthesized view of the current state as well as share the learnings we gained from talking to a diverse set of companies about their experience designing and implementing paid leave policies,” says BCG partner Trish Stroman, who co-authored the report (along with Gabrielle Fitzgerald, Wendy Woods, Shalini Unnikrishnan, and Liz Bird).

Read the rest of the article at FairyGodBoss

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

If you’re the head of HR, or in charge of benefits at your company, the topic of paid family leave has probably come up in the past few years. There’s not only a national conversation around the topic, but many employers have been making announcements of improved paid leave policies over the past few years.

While Fairygodboss research higher shows that levels of female job satisfactioncorrelate with longer paid maternity leaves taken, the business case for enhanced parental leave still is not necessarily apparent for some employers. That’s why I loved seeing a new research report published earlier this month by Boston Consulting Group, which found 5 reasons paid family leave can deliver “significant rewards that outweigh the costs”

View the full Forbes article