According to a recent report by the Illinois Economic Policy Institute and the University of Illinois’ Project for Middle Class Renewal, there are benefits of paid family leave to business, as well as for children. That recent report touts lower turnover and higher local spending when workers are allowed to take time off at critical life moments.
Researchers say workers would reap $1.4 billion in annual wages with such a leave program, and lower infant mortality rates are associated with parents having paid family leave.
“Ultimately, paid parental leave is first and foremost about the health and well-being of newborn children, adopted children and their parents,’’ said Jill Gigstad, lead author of the report. “But it also has a lot of economic impact, as well.”
Robert Bruno, a co-author and director of the U of I ‘s project, explains:
“It is quite costly when workers leave the labor force. It’s costly, short term. It’s costly, long term,’’ he said. “We estimated was that without a really solid leave program in the state, that that turnover or retention rate problem costs the economy roughly $456 million – that’s Illinois.”
“The Push For Paid Family Leave Grows Stronger” Full Story: