The top tool for retaining your working parent population
When Allison Whalen returned to her job following her first maternity leave in 2017, she felt “completely overwhelmed” by the lack of supportive resources available to guide her through the leave and return-to-work process.
“I ended up getting through that first three months back at work and I realized there were about 50 things that I wish someone had told me before I'd even been on leave,” says Whalen.
Whalen says she felt lost in understanding how much child care she would need before and after returning to the office, and felt left behind on her professional development.
After returning to work for a previous employer, Whalen knew something needed to change for working parents going out and coming back from leave. She started Parentaly a parental leave benefits company, in order to help employers streamline the process of getting new parents back to work.
Parentaly provides companies and workers with tools, coaching and resources that help working parents navigate the before and after of parental leave, without sacrificing their career and helping the organization retain its talent.
These benefits became even more critical during the pandemic. Whalen herself experienced her second maternity leave this summer, and having a plan for how she would navigate this time helped her stay productive. Remote work due to COVID was an added bonus for both her and her spouse, she says.
“My second maternity leave was a way better experience because I had made a plan that around six weeks postpartum, I wanted to start spending about two to four hours a week doing work,” Whalen says. “That was possible because [my husband] wasn’t commuting and he had breaks in between meetings where he could take a walk [with the baby]. We could plan because he was there.”
While the pandemic has been a huge challenge for working parents, more flexible work arrangements have actually been beneficial to their overall productivity. Thirty percent of the working parents reported an increase in productivity during the pandemic, according to research from Rutgers University. Overall, 94% of employers say that even with employees working remotely, productivity was the same as or higher than it was before the pandemic, according to Mercer, an HR and workplace benefits consulting firm.
But flexible scheduling is just one part of the puzzle for employers wanting to support working parents. Companies that invest in employees and their families with benefits prioritizing their unique challenges see 5.5 times more revenue growth thanks to greater innovation, higher talent retention and increased productivity, according to research by Great Places to Work and Maven Clinic, a health services provider that supports women and families with their fertility, maternity, and pediatrics needs.
“So much of this comes down to productivity,” Whalen says. “[It’s about] how parents teach themselves to improve their productivity and then how the culture of the organization supports that productivity.”
To keep employees engaged and committed to work while juggling their home responsibilities, paid parental leave is a key place to start when employers look to boost their benefits for working parents. Microsoft offered employee parents 12 weeks of paid time off in order to help them deal with COVID-related school closures. PwC also updated its child care benefits to help parents deal with working from home and virtual school.
While workplaces often focus on maternity leave benefits, it’s critical they provide holistic support for parents at every stage of life, says Kate Ryder, founder and CEO of Maven Clinic.
“The best companies really look at parenthood as a journey. It’s not just about the nine months of pregnancy,” she says. “It’s not just maternity, but it’s fertility, return to work coaching [and] finding backup child care.”
As employers look ahead toward 2021, it’s critical they continue leading with empathy and understanding for working parents.
“The experience of being a working parent during COVID has been intensely difficult and stressful,” Whalen says. “I am hopeful that this experience will result in some major improvements in the longer term for me, namely a reduction in volume and duration of work travel, increased flexibility to work from home, and improved child care benefits.”
Whalen plans to encourage every employer she works with to provide more paid leave and greater flexibility and support when it comes to re-onboarding working parents coming back from leave. These actions now will benefit companies in the long-run.
“COVID has highlighted the importance of focusing on productivity over activity and so we are doing a lot of work focusing on how to work smarter, not harder,” Whalen says. “The companies that will come out on top over the next one to two years are the ones that will continue to invest in developing and retaining top talent during and through this pandemic.”
SOURCE: Schiavo, A. (22 December 2020) "The top tool for retaining your working parent population" (Web Blog Post). Retrieved from https://www.benefitnews.com/news/parental-leave-and-other-family-planning-benefits-will-be-a-key-investment-in-2021
DOL: Workers whose kids can't attend summer camp can take FFCRA leave
Dive Brief:
- Employees can take paid leave under the Family First Coronavirus Response Act (FFCRA) to care for their children in instances where a child's summer camp or summer program has been shuttered due to the pandemic, the U.S. Department of Labor (DOL) said in a June 26 field assistance bulletin.
- The federal agency said a closed summer camp or program may be considered the place of care for an employee's child if the child was enrolled in the camp or program before the closure. It noted that "affirmative steps" short of actual enrollment may suffice to prove the summer program was intended to be a child's place of care.
- A summer camp or program qualifies as closed for the purpose of an employee qualifying for FFCRA leave if the camp or program is operating at a reduced capacity because of COVID-19, the agency said. For children who would have attended, the same analysis — actual enrollment or affirmative steps toward enrollment — applies.
Dive Insight:
The Labor Department said in the bulletin that "the expectation that employees take FFCRA leave based on planned summer enrollments is not different from the closing of other places of care such as a day care center." DOL says it is not adopting a one-size-fits all rule because of "the multitude of possible circumstances under which an employee may establish (1) a plan to send his or her child to a summer camp or program, or (2) that even though the employee had no such plan at the time the summer camp or program closed due to COVID-19, his or her child would have nevertheless attended the camp or program had it not closed."
If proof of a child's summer camp enrollment is not available, DOL provided several examples of ways that parents can prove a child's planned attendance in a summer program, such as:
- Proof of the submission of an application before the camp's closure.
- Proof of a paid deposit.
- Proof of prior attendance and current eligibility.
- Proof of being on a waitlist.
The agency also said that an employee who requests FFCRA leave must provide the employer information in support of the need for leave either orally or in writing. Such an explanation must include the reason for leave and a statement that the employee is unable to work because of that reason.
SOURCE: Burden, L. (29 June 2020) "DOL: Workers whose kids can't attend summer camp can take FFCRA leave" (Web Blog Post). Retrieved from https://www.hrdive.com/news/dol-workers-whose-kids-cant-attend-summer-camp-can-take-ffcra-leave/580718/
9 Reasons Why Stay-at-Home Parents Need Life Insurance
It's not just parents with full-time jobs that need life insurance. Stay-at-home parents also need coverage. Read this blog post for 9 reasons why stay-at-home parents should have life insurance as well.
You’re probably already aware that a parent with a job outside the house most likely needs life insurance to protect their loved ones in case something were to happen. But it’s not just breadwinners who need coverage—stay-at-home parents do, too. Here are nine reasons why.
1. To replace the value of their labor. Stay-at-home parents are caretakers, tutors, cooks, housekeepers, chauffeurs, and so much more 365 days a year. And all that work comes with a price tag: Salary.com reports that stay-at-home-parents contribute the equivalent of a $162,581 annual salary to their households. If the unthinkable were to happen, a surviving partner would be on the hook for a slew of new expenses that the stay-at-home parent previously shouldered. Term life insurance is generally a quick and affordable way to get a substantial amount of coverage like this for a specific period of time, such as 10 or 20 years—often until you pay of your mortgage or the kids are grown and gone.
2. To factor in the contributions of any future income. Many stay-at-home parents return to the workforce once their kids are older. Life insurance could help bridge the gap that their future earnings would have contributed to the household.
3. To pay off any debt. From student loans to credit card debt to an informal loan from a family member, there are lots of ways to owe money. Life insurance can help settle any debts left behind so they don’t create stress for grieving loved ones.
4. To cover funeral expenses. Would you believe that the average funeral runs between $7,000 and $10,000, according to parting.com? And that may not cover the cost of the burial, headstone and other expenses. Many families want to honor a loved one’s memory but have trouble finding the funds to cover all the costs. Fortunately, the payout from a life insurance policy can help cover final wishes.
5. To leave a legacy. If a stay-at-home spouse has a passion for a place of worship, an alma mater, or another nonprofit organization, life insurance proceeds can be used to leave a meaningful charitable gift.
6. To boost savings. Permanent life insurance, which offers lifelong protection as long as you pay your premiums, may offer additional living benefits such as the ability to build cash value. This can be used in the future for any purpose you wish, from making a down payment on a house to paying for college tuition. Keep in mind, though, that withdrawing or borrowing funds will reduce your policy’s cash value and death benefit if not repaid.
7. To guarantee insurability. Your health can change in an instant. Getting a permanent life insurance policy when you’re young and healthy means you’ll have lifelong coverage. Then you won’t have to worry if later on, you develop a health condition that would make it hard or even impossible to get life insurance.
8. To receive tax-free benefits. Life insurance is one of the few ways to leave loved one's money that is generally income-tax free.
9. To give loved ones peace of mind. Losing a parent and partner before their time is already hard enough without having to worry about unsettled debts, childcare costs, funeral bills, and other expenses.
As you can see, life insurance for stay-at-home parents is just as important as it is for parents who work outside the home. Schedule a time to talk with an insurance professional in your community to learn about your options and get coverage that fits your lifestyle and budget.
SOURCE: Austin, A. (11 December 2018) "9 Reasons Why Stay-at-Home Parents Need Life Insurance" (Web Blog Post). Retrieved from https://lifehappens.org/blog/9-reasons-why-stay-at-home-parents-need-life-insurance-2/
