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Business

Even the best benefits can’t keep women from leaving jobs

Source: https://www.reveliolabs.com/news/social/even-the-best-benefits-cant-keep-women-from-leaving-jobs/

Since the United States has no federal parental-leave policies, local governments and companies often step up to fill that void. Business Insider identified large public companies with the most generous parental leave and benefits for new parents. The list includes tech giants like Netflix and Amazon, as well as financial sector firms like Freddie Mac and Capital One. But do these company policies actually lead to measurable outcomes for women?

Turns out, they do! Parent friendly companies have higher shares of female employees, especially among senior employees, when compared to other large public companies. This pattern suggests that more generous parental leave policies might enable women to return to work after having children, and continue to climb the corporate ladder.

These generous policies also pay off in terms of employee happiness. Parent friendly companies have stronger employee ratings and better parental leave policies also coincide with superior diversity scores.

When it comes to employee retention, parent friendly companies have generally lower outflows for female employees. During COVID however, with childcare centers and schools closing, even the most generous parental benefits could not deter female employees from leaving these parent friendly companies at greater rates. At other companies, parents may have had alternative childcare arrangements in place prior to COVID.

Key Takeaways:

  • Parent-friendly companies have higher shares of females, especially in senior roles.
  • They also have much happier employees.
  • While female turnover-rates have been generally lower at parent-friendly companies, COVID still forced larger shares of women out of these companies despite the generous benefits.

To learn more about the data behind this article and what Revelio Labs has to offer, visit https://www.reveliolabs.com/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

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ETR Research

ETR is a primary technology market research firm, capturing real-time evaluations and spending intentions from thousands of enterprise-leading technologists.

For almost 10 years, Global 2000 corporations have trusted ETR’s proprietary technology research to capture real-time market activity. ETR produces market research through standardized surveys and round table discussions, not analyst opinions – our data driven approach quantifies the narrative driving the technology landscape. Marketing, Investor Relations, Corporate Strategy and Corporate Venture Capital teams no longer need to rely on anecdotal evidence to make business decisions. Vendors covered in our surveys gain mindshare among global IT leadership & gain key insights into navigating their competitive landscapes.