Is this the way to keep older employees?
We talked yesterday about paternal leave. Today, we are talking about grandparent leave. A lot of companies are now offering this benefit in order to retain older workers and attract workers. We are breaking it down for you here.
THE NEXT BIG BENEFIT?
"Time off for new grandparents could be the next big work benefit, as people are living and working longer. A number of companies are offering so called 'grandternity leave' - including tech company Cisco and consulting firm Mercer. They are offering two weeks' paid time off to welcome a new grandchild.
HR Suite employment law expert Caroline Reidy told Moncrieff paid leave would be unusual. "It's really best in class when you see it being paid leave, like the Ciscos and the Mercers are offering," she said. "But for many companies this will be an unpaid option if they look at introducing it. "It's really appreciating the fact that people are working on longer, and balancing family and flexibility is something we're seeing happening more and more." Learn more
COMPANIES ARE TRYING A NEW FAMILY LEAVE POLICY
"People in the US are living longer and retiring later, a pattern that’s created a workforce more multigenerational than ever before. This is happening at the same time employers are adding and expanding parental leave to provide more time away to more parents, sometimes with pay. And since the beginning of 2022, Fannie Mae, Booking.com, and SentinelOne are among the companies adding a new perk to their family policies: grandparent leave. The policy, as it goes, gives paid time off to employees at the birth or adoption of a grandchild. And given the growing number of grandparents in the workforce, plus the ballooning cost of childcare, workers are excited about what’s come to be called grandternity leave." Learn more