Special edition of The Wrap Up

To all our data lovers out there,

We’ve heard from a person or two (or 20) that they love paid leave benchmarks. Who are we to deny the people what they want? Today’s market is tough and budgets are tight, which leaves progressive companies in a difficult spot when trying to advocate for competitive paid leave policies. More often than not, data will help you make your case.

Check out Cocoon’s new Paid leave benchmark report from hundreds of venture-backed tech companies to see where your company stacks up.?

New this year:

• Visually explore the dataset, insights, and key takeaways for employers
• Dig into policy distribution to get a better sense of how common different policy offerings are for each leave type

• View how common paid leave policies are in different industries

Keep reading for some of the top insights ??

Median policy offerings are trending up over the last 3 years

Median paid leave time is up across the board for parental, medical, and caregiver leave, which shows that companies are investing in the benefits that employees care about most.

Paid parental leave is table stakes for today's employees

Paid parental leave for both birthing and non-birthing parents is no longer a nice-to-have for today’s workforce—it’s an expectation (and sometimes a dealbreaker).

• 95% of employers in our data set offer paid parental leave.
• Early stage companies offer some of the most competitive policies.
• As companies scale, their birthing parent policies expand versus non-birthing parent policies which stay relatively stagnant.

Medical leave policies have expanded over the last 2 years

Parental leave can seem like it gets all the attention (we get it, babies are cute!), but medical leaves make up more than half of FMLA leaves. And yet, paid medical leave policies lag pretty far behind parental leave.

• Since March 2022, the median time offered for medical leaves has increased 76% from 3.4 weeks to 6 weeks.
• Early stage companies in our dataset offer the most generous medical leave policies.
• The percentage of companies offering paid medical leave has increased 8% since our last report in March 2023.

Caregiver leave continues to gain popularity

3 out of 4 employees have caregiving responsibilities—if you think you don't have any caregivers at your company, you're just not asking the right questions yet.

• 1 in 5 employers in our dataset offers a paid caregiver leave policy.
• Of those employers with a paid parental leave, 21% have paid caregiver leave. Of those with paid medical leave, 35% have paid caregiver leave.
• The percentage of companies offering paid caregiver leave has increased 9% since our last report in March 2023.

One of the best ways for employers to stand out is to offer paid medical and caregiver leave

Only 1 in 5 companies offer paid leave policies for parental, medical, and caregiver leaves.

Check out more of our in-depth data and key takeaways for employers ??

Until next time,

Team Cocoon