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Parento

Thursday, April 28, 2022

Parento helps companies support working parents through paid maternity & paternity leave. Combining employer-funded paid parental leave insurance with integrated, 1:1 parental coaching, Parento retains over 94% of all parents that welcome a new child.

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What is Parento?

Parento is a comprehensive working parent success program. We help companies fully insure paid parental leave, making maternity and paternity leave attainable and affordable for all companies. This gives companies the ability to properly fund a paid parental leave policy, much like they do with their health, dental, vision, or even short term or long term disability insurance. The insurance here though covers a salary expense while an employee's taking paid parental leave, whether that's a mom or a dad, birth, adoptive or foster, and it coordinates with disability and state PFL. On top of that, we really enhance the working parent experience by providing unlimited support to all working parents, but especially parents when they're welcoming a new child. Our expert parent coaches walk expecting parents through everything from logistical, planning their leave, filing for disability or PFL, to addressing emotional health and parenting challenges before, during and after leave.

How is Parento different?

Yeah, so having a child is the most common life event, and it's the largest driver of avoidable talent loss. 40% of moms quit the year they have a child, which you probably know, but of those who do return, most will return part-time. This directly causes the gender wage gap to triple during parenthood, and we're giving companies a suite of tools to prevent that, boost retention and decrease talent loss, especially amongst women. Under our program, 94% of all employees that have taken paid parental leave have returned to work full time. So we're really driving value and ROI companies can't get on their own or through anyone else. And unlike other employee support programs, we proactively engage expecting parents. 5 to 15% of all full-time employees engage with Parento, averaging 13 hours of support, and our administration and expertise also takes significant work off of HR, making their lives easier, while reducing compliance risk and workload. That's why this is a comprehensive approach.

Who is a good fit for Parento?

We see broad demand for paid parental leave across industries, from tech to trades, consulting to construction. Generally though, we work well for companies with 100 to 750 employees, but we have clients that are larger or smaller. Beyond just typical company descriptors, though we really look at culture and company characteristics. These are some of the characteristics that indicate companies we'd invest in our program.