The COVID-19 pandemic brought paid sick leave, family leave, and medical leave into focus. Other types of paid leave were also in the spotlight as employees struggled to cope with work from home scenarios, children at home doing school online, and loved ones getting the virus. Should an employer choose to either make changes to their current “Leave” policies OR add new types of leaves to their corporate policies, it is important to align the changes/additions with their Benefits Policies. For example, how will Benefits be continued during a Maternity/Paternity Leave? Will you continue benefits during a Paid/Unpaid Leave and if so, which benefits and how will they be paid for?
Paid Leave
Here is a chart showing the types of Paid leave which exist:
Source: IFEBP Employee Benefits Survey 2020
The Employee Benefits Survey in 2020 found that organizations with satisfied workforces were more likely to offer paid maternity leave (38% compared with 15%) and paternity leave (35% vs. 12%) beyond legal requirements. These organizations were also more likely to provide paid leave for other reasons such as for volunteering or community service, to attend a child’s activities (12% vs. 4%) on top of offering paid family/caregiving leave (17% vs. 4%).
Unpaid Leave
Employees also value unpaid leave. Organizations with satisfied workers were also more likely to offer unpaid parental/family leave (37% compared with 15%), unpaid leave to attend children’s activities (24% vs. 12%), unpaid adoption leave (26% vs.12%), and unpaid leave related to a miscarriage (14% vs. 4%).
Earned Vacation/PTO
Employers are starting to allow workers to carry over earned vacation/paid time off to subsequent years which garners more satisfied employees (65% vs. 50%), and even to allow leave “donation” to workers in need (19% vs. 9%) as well as to sell excess time off (15% vs. 5%).
Paid leave benefits are often legislated at the provincial level. Benefits managers need to carefully follow legislative changes as well as changes in the expectations of employees.
At Health Risk Services, we work with plan managers to continually adapt their plans to meet the changes, opportunities, and needs of their employees while managing their company budgets. We know how to find the best possible solution for both the employees and the employer in crafting benefit plans. We would like you to know more about how Health Risk Services can assist you with a 2021 plan to address employee care-giving benefits, so please schedule a Complimentary Consultation with us.
At Health Risk Services we will Empathize, Educate, and Empower you and your team in 2021! To schedule your Complimentary Consultation with Health Risk Services, please call 403-236-9430 OR email: [email protected]
