Millennials are the biggest generation at work. They’re also more likely to become parents than previous generations. While the birth rate may be down in many countries, the number of women becoming mothers continues to rise. Today, 86% of millennial women are mothers, up 6% from 10 years ago.
We can’t focus solely on mothers. Fathers and non-birth parents, too, are advocating for their rights as parents in terms of access to parental leave and more.
As the role of parents evolves, companies are searching for new and distinct ways to attract and retain employees who are parents today and those who aspire to be in a few short years. However, there remain questions on the most effective course of action. This has led many companies to focus on a select few tried and tested programs. The war on parental leave benefits wages on, as an example, with each company trying to outdo the other in numbers of weeks paid.
Engaging and retaining parent employees
Yet, even with these expanded benefits, companies continue to struggle to engage, motivate and retain their parent employees after parental leave. Parents, too, find it difficult to find solid footing at work after returning from leave. This limits their potential to contribute to their teams, and longer term, affects their career growth and progression.
As a result, about 43% of highly qualified mothers voluntarily quit their companies. The effects of turnover are wide-reaching. There are increased costs, upwards of $50,000 per employee to recruit, hire and train someone new. It also limits companies’ abilities to hire and promote qualified women talent as they work towards their gender parity goals.
New research looks at parental leave
What we don’t yet understand is why this is happening. LDI Consulting is embarking on new research to understand the employee experience before, during and after parental leave and how that experience relates to parents’ engagement at work, their performance on the job and their decision to stay with their companies.
The findings from the research will also offer insights on the types of benefits and programs companies can invest in that will return more favourable results in terms of parent employee engagement and retention.
Survey now open
We are looking to survey parent employees – soon-to-be parents, those currently on parental leave as well as those who have recently returned to work from leave. All so we can understand the employee experience around parental leave.
If you would like to open our survey up to your parent employees, please contact us.