To maintain the work efficiency of the company, it is essential to keep the employees happy. Recruiting deserving candidates ensures better work productivity. But just employing the right candidates is not enough. It is important to retain the efficient employees for better productivity. This is because if an employee walks away and a new one is recruited, it is a tedious process to train the new employee and get him accustomed to the functioning of the company. For this, perks should be provided to the employees for their convenience. One of such perks is the parental leave policy which is essential in every company, be it big or small.
Parental leave is a sensitive issue among the employees as child birth is considered a very personal and special affair for the parents. Keeping this in mind, the employer needs to make sure that the parental leave is provided to all the permanent employees. There are various notable aspects of framing this policy.
Significance of a parental leave policy
There is a common approach towards parental leave that it isn't an important issue for the employers. Due to this, employers alter the parental leave policy according to their convenience. But it is important to understand the importance of such a leave period.
Ideally, parental leave must be a paid one but most companies pay for only a part of that duration. It is important to grant paid parental leave to a permanent employee as this is the most significant period of that given person’s life. With the advent of a new family member, the responsibilities of the parent increase. Usually, mothers receive parental leave but it is necessary to note that even fathers deserve it. It is important to realise that even though a male employee has not given birth to the child, but he has to look after the child as well as the mother.
At the same time, parents are burdened with monetary expenses in this phase. Right from the time the child is born, the expenses keep increasing. It begins with the medical expenses and goes on to the upbringing of the child. At such a time if one does not get leave, he or she can land into a major financial crisis.
How is it beneficial for the company
Companies usually think that if a particular employee is on an eight-week leave, it is a major loss for them. This is in context to the fact that the employer is paying the employee without getting any work out of it. Practically speaking, this ideology is quite substantial. But there have been various instances in which if the company only focuses on monetary benefits, they start losing their workforce.
In order to retain the loyal and efficient employees, the company needs to provide paid paternity as well as maternity leave. The paid leave is like an investment. When the same employee returns from his leave, he will be grateful to the company and will work in a more dedicated manner. This will improve the efficiency of the employee and will also encourage him to be loyal to the company. In the long run, the company will have a positive rapport in the market. This will result in better candidates who will be keen to work there.