1.5 minute read
A survey by Willis Towers Watson (WTW) revealed that 84% of U.S. employers are changing their leave programs over the next two years. The 2023 survey revealed that attraction, retention, and enhancing the employee experience are the main drivers for employers changing their leave programs. Supporting diversity, equity, and inclusion initiatives is also a top reason cited by employers. As work dynamics change, employers are updating their paid time off and leave programs to meet employees' needs.
According to the survey, these are significant leave changes employers are planning to make:
- One-fifth of companies plan to increase the value of their parental leave programs including maternity, paternity, and adoption leaves
- 22% of employers plan to or are considering offering a paid caregiver leave policy in the next two years
- 16% of employers anticipate offering unlimited PTO to exempt employees in the next two years
- 23% of employers plan to change the number of days provided in their time-off program
- 25% of employers offering bereavement leave plan to increase their offerings by expanding covered person(s) and extending the duration
Employer Takeaway
Employers must adapt to employees' needs to attract and retain top talent in today's competitive landscape. Generous leave programs positively impact employee attraction and retention. Monitoring employment trends and modernizing practices are essential to staying competitive in today's evolving market. Download the bulletin for more details.
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