Prudential Financial warns that employers risk losing top talent if they do not offer paid caregiving benefits, as caregiving becomes a common workplace responsibility.
A survey revealed that although paid caregiving leave is highly desired by employees, only 52% of employers provide this benefit.
Employers commonly offer paid leave programs for parental, military, caregiving, and pregnancy loss reasons, but barriers like affordability and career concerns prevent employees from utilizing them fully.
To address these concerns, employers should better communicate paid leave programs, consult with brokers to align benefits with state laws, and consider flexible work arrangements to support the needs of caregivers in the workforce.