Though not required by law, an increasing number of U.S. employers are starting to take matters into their own hands when it comes to paid parental leave benefits. In December, Fortune reported that American Express joined the ranks of U.S. companies like Google and Bank of America that are sweetening their parental leave and benefits policies. Amex will give employees 20 weeks of parental leave and offer benefits worth up to $35,000 for adoption and surrogacy events, as well as $35,000 for infertility treatment.
If your company is planning to create or update a paid parental leave program there are several factors to consider.
Sushma Tripathi, vice president of workforce planning and benefits consulting at ADP says it’s important to align talent to the corporate strategy, then align benefits. This way, businesses will see better financial performance.
To read more about Tripathi’s insights on the topic, check out this article in Talent Economy, “10 Steps To Create a Paid Parental Leave Policy”.