Top companies for parents: Why Goldman Sachs and American Express are leading the way

In today’s fast-paced world, working parents, guardians, and caretakers face the ongoing challenge of balancing their professional responsibilities with their duties at home. The struggle to find this delicate equilibrium is a familiar one for many, as the demands of work and family often seem to pull in opposite directions.

Recognizing the unique needs of parents in the workforce, many companies have begun to prioritize policies that support their employees in juggling these dual roles. From paid parental leave to comprehensive health care coverage and equal pay that covers childcare expenses, the focus is on creating a supportive environment for working parents.

With no federal oversight of workplace benefits such as paid leave and caregiving policies, the onus falls on corporate leaders to take the lead. According to CNBC partner Just Capital, American workers are clear about what they value in a company – their workers. Alison Omens, president of Just Capital, emphasizes the importance of prioritizing the needs of employees, especially working parents.

Top companies such as Goldman Sachs, American Express, Deckers Outdoor, S&P Global, and Splunk have been recognized for their efforts to support parents in the workforce. These companies offer 20 or more weeks of paid parental leave for both primary and secondary caregivers, parental leave parity for all caregivers, and backup subsidized dependent care for employees.

During the pandemic, the importance of paid parental leave became even more apparent. S&P Global, for example, offers one of the longest paid parental leave policies, with 26 weeks of leave. Employees Lauren and Mario Washington shared how taking parental leave together after the birth of their second child had a profound impact on their family.

While there may be debates within the human resources profession about the cost of offering paid parental leave, many argue that the benefits outweigh the expenses. SHRM highlights both direct and indirect costs associated with paid leave, emphasizing the long-term value of investing in policies that support parents in the workforce.

Companies like Deckers Outdoor and Goldman Sachs are also working towards gender equity in leadership positions, showcasing a commitment to creating an inclusive workplace for all employees. By investing in their people, these companies are not only supporting working parents but also setting a standard for workplace equality and advancement.

In conclusion, the recognition of the unique challenges faced by working parents in today’s workforce is a positive step towards creating a more supportive and inclusive workplace for all. By prioritizing policies that support parents and caregivers, companies can attract and retain top talent while fostering a culture of equality and respect for all employees.

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