Summary.
An employee handbook update doesn’t usually merit a press release and glossy promotional video — except when there’s a benefits arms race on. The paid-parental-leave arms race is red-hot because employers see a unique opportunity to nab talent and headlines by one-upping their competitors. Although 86% of American employees have no access to paid parental leave, at elite firms access is growing. Six weeks! 20 weeks! A full year! From 2015 to 2017, more than 75 large companies issued press releases touting new or expanded parental leave policies. Forward-thinking companies recognize that generous paid parental leave and other family-friendly policies provide reputational benefits, confer a competitive edge in recruitment, and increase employee productivity and retention.