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However, some employers are putting more efforts to tackle parental leave issues squarely – more companies are improving their parental leave policies for both new moms and new dads. Between 2018 and 2016, paid maternity leave jumped 10 percent, according to a study published by the SHRM.
In third place: a promised annual salary increase. A Willis Towers Watson report predicted in 2016 that 60 percent of companies could offer pet insurance by this year. Small-business loan lender Lendio , which has been recognized as one of the best employers in Utah, lets salaried employees take off when they need to.
Here are some key factors to consider when evaluating – or developing – your family leave policy. Stand out from your competition with paid parental leave. But, as Fast Company pointed out, the cost of offering paidleave may ultimately be less than the long-term cost of losing a valued employee to another firm.
The cost factor is not only the salary, but recruitment, onboarding, and training all push up the hiring costs. . According to the Bureau of Salaries’ March 2019 Employer Costs for Employee Compensation report, salaries account for 70.1 times base salary range." per cent of total employee compensation.
For many years, the minimum salary exempt employees could earn was $455 a week, or $23,600 per year. The Obama administration planned to raise the minimum to $913 a week, or $47,476 per year, by December 2016. Changes at the state and local level: Paidleave policies. As of Jan. As of Jan.
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