Within the next two years, a majority of U.S. employers plan to sweeten their leave programs in response to such pressures as increasing regulations and the challenges of attracting and retaining talent in a tight labor market, according to WTW’s 2023 Leave, Disability and Time-off Trends Survey released this week.
Most employers plan to improve their parental, bereavement and caregiver leave programs, with caregiver leave predicted to see the biggest boost, the survey shows. In addition, a growing percentage of employers plan to offer unlimited paid time off to workers, according to the survey, which queried 517 employers representing 7.9 million employees.
“The leave landscape is evolving at a rapid pace due to social, political and regulatory changes,” said Alex Henry, group benefits leader with WTW, in a statement. “Employers need to adapt to remain competitive, and offering a generous leave program can be a real differentiator for attraction and retention.”
Click through the slideshow to learn where these programs are headed and the numbers behind this trend.
Learn more about PTO and various types of leave at the upcoming HRE Elevate People, Ignite Change (EPIC) Conference on April 24-26 in Las Vegas.
The post Boosting paid leave programs for employees: latest benefits trend appeared first on HR Executive.