Our company currently doesn’t offer company-sponsored STD nor paid parental leave/FMLA.
We had a pregnant EE inquire about paid leave. I’m trying to get the executive team onboard to approve a paid parental leave policy but they are asking for the financial implication to the organization before approving such a program.
Is there a formula that I can use to try to estimate the financial implication of implementing paid parental leave? This EE works in MD but we have EE’s in several states.

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If your current broker offers compensation consulting or services they may be able to help put together an analysis of this for you. The simpler way to go about it yourself is to calculate how much paid leave you could offer for each salary level vs how much it would be to hire someone else to fill the role.

It’s also worth mentioning that while the financial piece is important, paid leave is appealing from a talent attraction and retention standpoint. There are certainly non financial benefits to offering it. I have resources available in this space if you are interested in pursuing farther.

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I'd be more apt to calculate the financial implications of not being able to attract and retain top talent due to lousy or lack of quality benefits.

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Have you done the financial impact of hiring, training and all other costs involved? Show them that walking out the door vs paying them.

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