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Paid parental leave: Employers can't win talent without it

Workers today want employers to show them more than dollars and cents in compensation.

By Alex Maffeo | May 04, 2022 at 09:13 AM
Paid parental leave presents an intriguing opportunity for benefit professionals to attract and retain younger generations of talent. (Photo: Getty)

Employers everywhere are facing a conundrum that requires a quick answer: how to attract and retain talent, improve employee well-being and promote an inclusive culture, without breaking their budgets. It’s an ongoing challenge that has taken on increasing urgency as younger generations seek more support from their employers.

For millions of employees – many of them parents to young children – the lines between work and personal life blurred during the pandemic. COVID-19 forced workers to make difficult decisions, and it’s a key cause of the Great Resignation – in 2021, an average of almost 4 million workers quit their jobs each month, according to the Bureau of Labor Statistics. From March through December 2021, the employee exodus was the largest on record. Can employers afford for turnover at this scale to continue?

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