Step 1. Get the Facts

Changing Workforce Expectations

Recent survey data indicates changing workforce expectations – a strong signal of potential PFML impact in hiring.

• 77% of employed adults say the amount of parental leave offered by an employer could sway their decision when choosing a job
• 93% of Millennial fathers report that paternity leave is important when considering a new job (compared with 88% of Gen X and 77% of Boomer fathers)
• More than 50% of surveyed employers indicate job candidates have specifically asked about their paid family & medical leave benefits [EY report forthcoming] 

In addition, due to aging demographics, paid caregiver leave may be increasingly important to job candidates.
 

Competition for Talent

Many companies that have recently implemented PFML cite competitive talent attraction as a key reason for the move. The importance of this benefit in attracting U.S. talent is only expected to grow over time.

"We compete with banks, we compete with industry peers, and we also compete with tech companies. So we need to better match the benefits they provide if we want to bring that talent in." – Manufacturing company

"Paid parental leave isn't just a nice thing to do – it's the smart thing to do for our business. To remain competitive, [we] must preserve and enhance [our] talent pipeline...we know paid parental leave will go a long way in supporting our current associates, and it will be a great selling point for recruiting." – Consumer goods organization

Step 2. Take Action

• Learn what competitors offer and articulate how your company can present itself in relation to them. Are you looking to have best in class or at-market employee benefits?
• Articulate company hiring goals to determine whether PFML could support them. PFML's boost to your talent attraction may be most notable if you are looking to hire:
  • In an industry with competitive hiring
  • Talent from companies offering PFML
  • Talent that typically goes to other industries (e.g., tech talent for a retail company)
• Assess to what extent job applicants have asked about benefits during the recruiting process

Note: you may not have access to some of this information depending on your job position. Where possible, collaborate with others in your company that are interested in PFML to understand potential talent attraction impacts. Only access and share confidential information such as job applicant details when appropriate.