By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Wealth Beat NewsWealth Beat News
  • Home
  • News
  • Finance
  • Investing
  • Banks
  • Mortgage
  • Loans
  • Credit Cards
  • Small Business
  • Dept Management
Notification Show More
Aa
Wealth Beat NewsWealth Beat News
Aa
  • News
  • Finance
  • Investing
  • Banks
  • Mortgage
  • Loans
  • Credit Cards
  • Small Business
  • Dept Management
Follow US
Wealth Beat News > Small Business > Why Companies Should Expand Parental Leave To Include NICU Stays
Small Business

Why Companies Should Expand Parental Leave To Include NICU Stays

News
Last updated: 2023/06/21 at 1:15 PM
By News
Share
5 Min Read
SHARE

Sarah Hardy is the Co-Founder and COO of Bobbie, the mom-founded and led infant formula company.

It was 9 p.m. on a Wednesday night in September, and my phone rang. It was one of our employees, and when I answered, my stomach sank.

As a cofounder of a fast-growing company, unexpected moments that catch you completely off-guard are commonplace. But there’s nothing that can prepare you for the moment when a first-time expectant parent on your team is rushing to the hospital to give birth at 27 weeks—nearly 3 months early. And yet, it was immediately clear to me what we’d do: Meet her in her reality and implement a policy that would support her.

Between 10% and 15% of infants in the United States need care in the neonatal intensive care unit. To even imagine any employee spending their paid leave driving back and forth from the NICU every day is unconscionable to me. Even worse is the notion of returning to work during this time to “save” their paid leave for once their baby is discharged from the NICU. As I imagined those realities for this employee, I knew one thing for sure: She needed to be at the NICU every day with her baby and still have time to adjust to life at home down the road.

As a mom of two myself and with a team of more than 100 employees—80% of which are parents—I’m constantly thinking about ways we can show up for working parents differently. And when it comes to creating first-of-its-kind employee benefits, I’ve come to learn that innovation happens at the cross-section of real-life moments that inspire us to be responsive to our employees’ needs, especially in unique circumstances that may otherwise go unnoticed.

That’s exactly why, when I received this call, we sprung into action. Within 24 hours of receiving this news, our People and Finance teams put our heads together and established an addendum to our existing parental leave policy, adding up to 16 weeks of additional paid leave for parents whose baby is in the neonatal intensive care unit or NICU, thereby protecting parents from having to even consider compromising time with their newborn to ensure paid leave once their baby comes home. Overnight, it was permanently written into our policy, without hesitation. By creating a policy that meets those needs, we’re meeting parents in their reality, and we’re able to make an outsized impact for them when they need it most.

Approaching benefits in a human-first way isn’t easy, and it certainly isn’t cheap. I won’t pretend it is. But it’s a superpower we’ve embraced at my company and a mindset I believe is critical when it comes to creating best-in-class benefits. It requires a level of financial investment alongside a unique mindset that is equal parts responsive, nimble and humble enough to look to your team to find out what they need rather than assuming. But it more than pays off when it comes to employee retention rates and employee satisfaction across the board. Since the implementation of our NICU policy, we’ve heard from NICU parents and nonparents alike about how meaningful the company’s commitment to offering critical and unique employee support is. In short, it’s completely worth it.

When we look toward the future of work in increasingly remote environments, meaningful applications of empathy and heart will go a long way in differentiating work cultures that truly walk the walk versus those that only talk the talk. Expanding parental leave to include time to care for a child in the NICU is a good place for companies to start.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

Read the full article here

News June 21, 2023 June 21, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Fast Four Quiz: Precision Medicine in Cancer

How much do you know about precision medicine in cancer? Test your knowledge with this quick quiz.
Get Started
Excelerate Energy: Nearby Best Energy-Source Cap-Gain Prospect (NYSE:EE)

The primary focus of this article is Excelerate Energy, Inc. (NYSE:EE). Investment…

Penske Is Steady, But The Road Ahead May Be Bumpy (NYSE:PAG)

Investing Thesis On Wednesday, Penske Automotive Group (NYSE:PAG) released a superficially encouraging…

Top Financial – No, Stop It, This Is Silly (NASDAQ:TOP)

TOP Financial Moves, yes, but why? TOP Financial (NASDAQ:TOP) was quite the…

You Might Also Like

Small Business

Marketing Versus PR: What’s Really Different?

By News
Small Business

Fundraising Strategies For Businesses Scaling Beyond $100 Million

By News
Small Business

The Power Of Personalization In Marketing And Website Design

By News
Small Business

Brilliant Or Lucky? 4 Key Insights For Ventures & Angels

By News
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Contact US
More Info
  • Newsletter
  • Finance
  • Investing
  • Small Business
  • Dept Management

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions

Join Community

2025 © wealthbeatnews.com. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc.

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.
Welcome Back!

Sign in to your account

Lost your password?