With the minimum wage inevitably rising, we should not be afraid of the externalities of this change. There are many great things that come from raising the minimum wage. According to ClearCompany CEO and co-founder Andre Lavoie, there are three reasons why we should be happy about the minimum wage increase. These three things are: it will help recruit and retain talent, improve employee satisfaction, and improve your company's brand (Lavoie). In contrast, many people are concerned about the minimum wage increase. They believe it will increase manufacturing, gas, and living expenses for which we already pay large sums of money; however, this should not be the only thing that matters. If a company's CEO or an employee's boss has a happier team working for him due to increased employee benefits, there is a greater chance that he will treat employees better. Employers are also less likely to be harsh and stingy because everyone is happy and working hard. Employers should require paid sick leave and vacation time in order to maintain high employee retention rates, boost company morale, and drive business productivity. Clearly, employee benefits are extremely important to the employees themselves, as well as to the company where they work. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an Original Essay In companies across the United States, employees leave positions because they are dissatisfied with the benefits and compensation of their current job. When an employee leaves their job, companies often incur turnover costs that include, but are not limited to, the costs of hiring and training a new employee to replace the one who left the company and for offset the bonuses granted to both employees. new employee and the employee who left the position. Turnover costs can become exponential in large companies that have a high turnover rate as it is estimated that the average cost to replace an employee is around a fifth of their salary (National Partnership for Women and Families). This means that for every person earning an annual salary of fifty thousand dollars that a company loses, the company must pay ten thousand dollars in turnover costs on top of the salary it must pay to the newly hired employee. Clearly, it's not hard to see how these costs can add up if many employees leave, becoming a financial burden for a company regardless of size. Employees who have the option of paid leave have been shown to return to their pre-leave positions at a rate of ninety-four percent (Boushey, O'Leary, and Mitukiewicz). In a study conducted by Eileen Appelbaum and Ruth Milkman in 2009 and 2010, in which employee surveys were conducted in California, it was shown that: “Workers with low-quality jobs who used insurance for family leave during leave were more likely to return to work.” their employer before taking leave – 82.7% – compared to those in low-quality jobs who did not – 73%.” (Boushey, O'Leary, and Mitukiewicz) In the area of ​​paid maternity leave, Google, a company that once offered three months of partially paid maternity leave, saw women leave their company jobs twice as often after giving birth. of other employees. Given this startling number, Google increased paid maternity leave to five months of fully paid leave and saw it decrease by fiftypercent the rate of postpartum women who left their jobs after the birth of their child (Miller). Additionally, 87% of companies in California found that paid leave programs reduced costs and increased savings for their companies by reducing employee turnover rates (National Partnership for Women & Families). This figure suggests that companies in California that have used paid leave programs have had a similar outcome as Google in recognizing that many employees leave their jobs due to life events and new job opportunities that offer benefits better. It is clear that by implementing paid leave, employee retention rates increase and the fiscal drain on employee turnover rates is significantly reduced. Alternatively, company morale is extremely important to employee happiness with their employer, creating thriving companies. According to the Harvard Business Review, “most of the most successful companies report that exemplary benefits programs strengthen employee loyalty and morale.” (National Partnership for Women and Families) For companies reporting low morale, the costs are often related to both money and productivity. From “The High Cost of Low Morale by Nicole Fink,” Michael Blankenship of Roberts Wesleyan College wrote: “The Gallup Organization estimates that there are 22 million actively disengaged employees costing the American economy up to $350 billion per year. year in lost productivity, including absenteeism, illness and other problems that arise from employee dissatisfaction at work.” (Blankenship) Understandably, employees should monitor low morale issues and their negative repercussions in order to keep company operating costs within a manageable range. Paid leave is a great way to keep the financial and production effects of low morale within bounds. a society in check. For example, New Jersey employers who established the state's paid leave program reported that the program “helped reduce stress among employees and improved morale among employees who took leave and their coworkers ”. (National Partnership for Women and Families) New Jersey's state paid leave program not only affects employees who take time off, it also affects co-workers because when one employee's morale is boosted by time off, other employees will be nurtured of the employee who has a high level of morale. Additionally, according to the National Partnership for Women and Families, “In California, virtually all employers (99%) reported that the state program had positive or neutral effects on employee morale.” (National Partnership for Women & Families) It is important to recognize the State of California's paid leave program mentioned in this quote because it demonstrates that the program has not harmed the majority of industry companies surveyed. It is difficult not to recognize the importance of this by skeptics of instituting paid leave in a state-mandated context. There are clear and positive benefits to having paid time off as a way to boost company morale and take advantage of the effects of low morale in the workplace. Finally, instituting a paid leave program has proven beneficial to company productivity. In a survey conducted by Harvard Business Review, it was found that “employees in countries that take more vacation have a strong desire to get a lot done as well as a tendency to move faster” and “simply spend less time at the desk.