Results from our Paid Parental Leave Survey 2023
WTW has conducted its first Australian Parental Leave survey, with participation from 111 organisations, representing companies of varying sizes across a host of industries. It captures existing employer paid (supplemental) parental leave benefits provided by organisations and identifies what changes they are considering, following recent government amendments.
Here are just a few of the headline findings:
80% of respondents provide employer paid parental leave to their employees but the focus remains on the primary caregiver.
10% are planning or considering introducing company paid benefits in the next two years.
31% of organisations have flagged they are considering an increase in the number of weeks currently provided under their employer paid parental leave policy.
Our survey demonstrated organisations have already taken steps to reduce the superannuation savings gap with
67% of those who provide employer paid parental leave benefits, also paying superannuation contributions during periods of paid parental leave.
Major opportunities remain for organisations of all sizes to design inclusive policies and look at potential roadblocks such as qualifying periods that may hinder the ability to attract and retain the best talent.
Source: WTW 2023 Australian Parental Leave Survey 2023
If you’re looking to maximise the benefits from your paid parental leave program, ensure it complements the new government requirements and is market competitive, WTW can help.
Contact our employee benefits consultant to discuss your needs.
