At Signature Hardware, we want to attract (and keep) a workforce filled with family-centered and creative people. To achieve this, we’ve been reviewing our employee benefits package to see where we can improve. During this process, we realized the value of parental leave and its impact on the lives of our employees and their families. As a company, we also need to meet the needs of our customers. We recognized the negative impact employee turnover has on the customer experience, and how parental leave can reduce turnover. Reviewing the data*, we found:
- Paid leave increases the likelihood that workers return to work after childbirth. Women with access to paid leave are less likely to return to work in the first 12 weeks after birth, but 69% more likely to return to work than their counterparts without leave after 12 weeks.
- Noting that the average company spends at least 6 weeks replacing managers and professional staff, plus all of the costs involved with recruitment and training, paid leave has neutral effects on workplace productivity.
- Paid leave for fathers helps foster “gender equity, both in the workplace and homes, since it shortens leave for mothers, increasing their job tenure and potentially their wage growth.”
With these facts, making a decision to include parental leave in our benefits package was a no-brainer. We are happy to join the ranks of Facebook, Microsoft, Amazon, and many other forward-thinking companies in offering all of our employees 12 weeks of 100% paid parental leave. This leave is in addition to the short-term disability currently offered to mothers upon giving birth or as needed during pregnancy. (Parental leave must be used within six months of birth or adoption.)
Signature Hardware aims to be the gold standard for an employee-centric and family-friendly culture. Our data and experience show that these values are an integral part of a five-star customer experience. As we grow as a company, we will continue to assess and make changes to our policies as needed to ensure we live up to that standard.
To read the original report, click here:
*Abstracted from a 2014 report from the Institute for Policy Research titled “Paid Parental Leave in the United States: What the data tells us about access, usage, and economic and health benefits” p. 9-10.