Spoiler alert: Companies that provide better benefits and greater flexibility to working parents are seeing a return on their investment, according to Great Place to Work’s Annual Study of the Best Workplaces for Parents.
COVID-19 changed the way we work, perhaps for good. Remote working policies that focus on greater flexibility and different ways of measuring productivity have emerged since the pandemic forced many employers to reassess what it takes to engage workers. This is particularly true when it comes to measuring the contributions of working parents (particularly women), many of whom are juggling remote learning for their kids in addition to their own responsibilities.
Polling over 400,000 working parents, Great Place to Work’s data science team analyzed data from the workers who answered more than 60 questions on its Trust Index survey to come up with a list of current best employers for working parents. In addition to that, they measured written phrases and demographics to reveal why some parents experience a more positive work environment. The results make a strong business case for employers who support working parents. Among the highlighted findings from the report:
- Companies that invest in employees and their families see 5.5 times more revenue growth thanks to greater innovation,
higher talent retention, and increased productivity.
- When working parents experience positive company culture, their organizations gain more than double the number of employees ready to innovate than their competitors which translates to revenue
- When companies reduce burnout, their employees are 20x more likely to stay.
- The Best Workplaces are thinking beyond maternity leave to provide benefits ranging from fertility coverage to return-to-work coaching to support finding child care.
Additionally, 93% of working men without children and 93% of working women without children who work for a company that invests in its working parent population say theirs is a great place to work. Eighty-nine percent of all workers at the best places for working parents say they want to remain there for a long time.