AS working people find themselves working to an older age with countries setting retirement age later, companies need to address the reality of working with multigenerational teams. Employers must now take into account the different needs of various age groups, including that of older adults. The growing presence of these workers is prompting some companies to offer leave to the grandparents that make up their ranks.
Fannie Mae, Booking and SentinelOne are among the companies now offering their employees this new kind of leave, according to Quartz magazine. They are entitled to it as soon as they become grandparents, whether through childbirth or adoption. This shows that companies see family and work-life balance as a benefit that can be useful for attracting and retaining employees.
At a time when workers are in short supply and the workforce is ageing, companies are looking to a variety of means to make sure that employees are not tempted to see if the grass isn't greener elsewhere. And one area HR directors are exploring is the addition of grandparental leave to their arsenal of benefits to keep employees, along with remote working policies and flexible working hours.
“Grandparents do so much. The workforce is changing, people are working longer, and they are still in the workforce when they have grandkids. It's not a huge part of our workforce, but it is a key part of our workforce,” Divya Ghatak, SentinelOne's Human Resources Director, told Quartz.
For the time being, the cybersecurity firm only has a few employees potentially eligible for grandparental leave. But there could be many more in a few years' time. Some 20% of Americans over 65 were still working in 2019, according to the AARP (American Association of Retired Persons). A growing number of retirees throughout the country are returning to work, due to the financial difficulties they face.
A balance between personal and professional life
A phenomenon that hasn't escaped the notice of companies like SentinelOne, which offer grandparental leave to their teams. “[This measure] sent a really powerful message to the rest of the employee population that we are not just taking care of one constituent,” Ghatak explained to Quartz.
The idea of “grandternity leave” has only recently made its appearance in the United States, like the idea of unlimited vacation time previously. And it's not that surprising that it's in the US that it takes off, given that the country has no legal minimum for paid leave, and the average number of days of leave taken per worker is around 15 a year. In this context, grandparent leave is a way of boosting a company's attractiveness for recruiting talent.
While few companies have actually created a dedicated policy, a much larger number offer their employees a degree of organisational flexibility so that they can balance their professional and family priorities. Working Americans are no longer prepared to sacrifice their lives outside work to further their careers. In fact, it's become a consideration of the utmost importance. For example, 82% of Americans in "blue-collar" jobs would rather have an extra week's vacation than an annual salary increase of US$2,000 (RM9,275), according to a survey of 19,500 hourly workers conducted by recruitment specialist EmployBridge.
Leaders and managers are trying to adapt to this phenomenon, by taking into account the personal grievances of their employees and offering them arrangements that allow them to continue to work while fulfilling their family or personal life duties. A balancing act in line with recent developments in the world of work. – ETX Daily Up, August 30, 2023
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