NEW YORK, Jan. 22, 2020 /PRNewswire/ -- HSA administrators, Clarity Benefit Solutions, shares why companies should be offering paid family leave.
While many employers across the country offer maternity leave, companies that offer paid leave while encouraging fathers to take time away from the workplace are few and far between. Currently, only five states in the country offer paid family leave. Thankfully, employers are beginning to realize that offering paid family leave is important and that providing this benefit results in higher levels of employee satisfaction and productivity.
Companies that include fathers in their maternity leave policy foster a sense of inclusion. Fathers should not have to face any stigma for taking time off from work to be with their families, should not have to miss important events in their children's lives, or fear losing their jobs because they have taken paternity leave.
Studies show that the more paternity leave fathers have taken, the more money mothers earn. Plus, these fathers play more of a role in their children's lives—reducing the frequency of boys' behavioral issues as well as girl's psychological problems—also resulting in less employee absenteeism. Their cognitive development is also enhanced. Research also shows that parents who share the caregiving responsibilities are more likely to stay together.
Another advantage of offering paid family leave is that the additional economic security new parents will feel during a significant life event. Not only will this provide them with greater peace of mind, but it will also make them realize their jobs are not in jeopardy. Thus, they will be more willing to return to their positions when the time comes.
As a result of employees having more knowledge about workplace equality issues and their resulting benefits, employees will come to expect family-friendly perks—particularly paid parenting leave and flexible policies that allow employees to take their leave on a part-time basis or across several periods of time. This is especially true with younger generations such as millennials and beyond. This trend will also expand to include such policies as financial assistance for surrogacy and egg-freezing—which is an eligible FSA/HSA expense with a letter of medical necessity (LMN)—research also shows.
About Clarity Benefit Solutions: Clarity Benefit Solutions provides technology that makes the health insurance plan selection process fast, easy, and straightforward. For over two decades, we have provided clients with industry-leading technology, compliance, and exceptional customer service. Our offering is designed to save time and lower the costs of managing benefits while also promoting employee self-service and automated ACA compliance.
SOURCE Clarity Benefit Solutions