2024 Employee Benefits Market Outlook 12 While paid leave laws will likely become more widespread as addi琀椀onal states and local governments pass related legisla琀椀on, employers can consider embracing this trend even if they’re not legally required to do so. Although paid leave may seem like another expensive bene昀椀t for employers to o昀昀er, it presents an opportunity to cul琀椀vate employee loyalty, boost engagement and improve produc琀椀vity. Establishing loyalty among workers is vital for employers struggling to navigate the compe琀椀琀椀ve labor market. O昀昀ering a琀琀rac琀椀ve bene昀椀ts, such as paid leave, can make organiza琀椀ons more en琀椀cing to applicants and strengthen reten琀椀on among exis琀椀ng workers. Flexible bene昀椀ts, including paid sick and medical leave, are extremely popular with employees, especially among younger workers. Therefore, providing paid leave bene昀椀ts can help organiza琀椀ons remain compe琀椀琀椀ve when recrui琀椀ng key talent in 2024. Furthermore, paid leave can be an important component of providing a safe and healthy workplace for employees. With this in mind, while o昀昀ering paid leave is an expense, it’s also an investment, which can be good for workers’ produc琀椀vity and morale and an organiza琀椀on’s bo琀琀om line.