“When I could help [my co-workers] deal with the challenges that they faced in their lives, not only did I feel good, the business prospered. Productivity was up, turnover was lower, and our customers had a more positive experience,” -Paul Orfalea, Kinko’s founder and Chairperson Emeritus
The research says family-friendly policies help businesses prosper:
Studies have found that when workers have paid family leave, businesses profit from lower turnover and training costs, reduced absenteeism, and higher productivity, loyalty, and morale.
• Economists from the University of California and University of Chicago estimate that employers in California will save $89 million a year in turnover costs when family leave insurance is implemented.
• Business consultant Leigh Branham estimates that hiring and training a new employee costs several thousand dollars for a low skilled employee and tens of thousands for higher level workers.
• Last-minute no-shows are hard on businesses. Policies that allow workers to schedule time off in advance enable the employer to plan for those absences.
• Studies confirm that customers are happier and more likely to continue patronizing a business when served by knowledgeable, satisfied employees.
• Profits go up when workers have paid time off to care for sick family members.