OMAHA, Neb.–Credit unions seeking to add new workers or retain those they have will want to pay attention to the results of a new survey’s findings around parental leave.
After conducting a study in July that found 74% of employed women would have no savings left if they went on unpaid maternity leave for eight weeks, a new survey by Breeze of 1,000 employed adults between the ages of 22 and 40 – the core of the workforce for the next decade plus–has found strong support for parental leave.
Key Findings
Among the findings:
- The majority of working women want paid parental leave over a four-day work week, employer-paid dental insurance, or employer-paid vision insurance
- 60% of employees without paid parental leave would give up social media for a year if their employer started offering paid parental leave
- 44% would consider a job offer with 5% less pay, but 16 weeks of paid parental leave
- 73% would rather their employer offer 16 weeks of paid parental leave (PPL) instead of employer-paid pet insurance, including 75% of women
- 70% would rather get PPL instead of an employer-paid "social" room (i.e. ping pong, beer), including 74% of women
- 69% would rather get PPL instead of employer-paid fitness benefits, including 73% of women
- 61% would rather get PPL instead of employer-paid mental health benefits, including 63% of women
- 55% would rather get PPL instead of employer-paid vision insurance, including 58% of women
- 54% would rather get PPL instead of weekly employer-paid events (i.e. lunches, happy hours), including 60% of women
‘Peace of Mind’
“With paid parental leave, you could work at a company for years and never have use for it,” noted Breeze in releasing the findings. “Yet still, our study shows that many employees, especially women, have a preference for paid parental leave. Other benefits can be more tangible, but the financial peace of mind that comes with paid parental leave is without compare.”
The full survey findings are here.
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