Unlimited vacation? Regular remote working opportunities? Waitr gift cards? They’re among the perks Baton Rouge’s small business owners are giving their employees in order to compete with larger corporations touting paid leave for new parents, family caregivers and others.
The competition is getting fiercer, according to Business Report. As a vocal workforce demands better work-life balance, U.S. companies are responding with luxurious incentives.
Take a look at Netflix’s unlimited paid parental leave, or IKEA extending its four months of paid parental leave to part-time employees who have worked there at least a year.
The question is how do privately-held companies, especially small businesses, compete for top-tier talent in a corporate world where benefits matter to sought-after employees more than ever?
Sure, most employers must provide their workers with job-protected and unpaid leave for qualified medical and family reasons under the U.S. Family Leave and Medical Act of 1993. But in the absence of a pay requirement for this leave, some Baton Rouge small businesses—typically armed with fewer financial resources and less human capital than their larger or publicly-traded competitors—are hesitant to adopt what they call a “one-size-fits all” paid leave policy.
Instead, they are turning to more innovative approaches to employee leave. Whether it’s paid family leave or another incentive, local businesses are exploring different ways to entice new hires, retain existing employees and boost company morale by reexamining their benefits packages. Read the full story from Business Report.
