Most Americans would agree that both women and men should have paid parental leave after the birth of a child. About 8 in 10 (82 percent) say mothers should have paid maternity leave, and 69 percent agree about paid paternity leave for fathers.

But businesses, especially small ones, struggle with the costs of it. Many millennials have already started families, so it’s something to consider for any business.

Below the federal level, more states are making it law to make sure that there is some sort of paid policy for parental leave, with seven of them having it on the books already and more working on implementing it.

Quite a few bills concerning paid parental leave have been introduced at the federal level this legislative year. Most recently, there is the CRADLE Act, which would allow parents to use Social Security benefits for parental leave. Though this bill hasn’t been welcomed by experts, the fact that the government is trying to implement change is a welcome sign.

Of course, your business' policy is dependent on you and your resources. How would it work? What’s the best way that your company can offer this for employees without it cutting into your profit margin?

Here a few things to think about:

  • If you do decide to have paid parental leave, you can now tout this awesome benefit when you are hiring — it’s a great thing to hear for future employees of all ages/genders. It means you care about your employees and their families. Everyone knows there is a war on good talent these days. Imagine the competitive edge you would get above all of the other businesses in your area.
  • The tax benefits! Last year, the IRS announced that it would offer credits to businesses that provided paid family leave.
  • Scientists have proven that it’s better for both the parent and the child if they can spend time together in the first few months of life. These policies help with employee satisfaction, and happiness is proven to make more productive employees.
  • Instead of hiring a temporary employee, you could use freelancers, contractors, remote workers to save. There are plenty of websites to hire freelancers from, such as Upwork, Fiverr and Toptal. Rehiring if your pregnant employee resigns is definitely more expensive than this process.
  • Economists have done studies that conclude that with paid leave policies in place more mothers return to employment and work more hours. More often than not, paid leave does not show any adverse effect to businesses.
  • Here are some companies that are doing a great job— even some small businesses.
  • There are plenty of resources to help you to come up with your new policies.

There are plenty more reasons for offering paid parental leave. These are just a few. It just depends on what is right for your company. Even taking some polls/surveys of employees or talking to HR professionals may help you out in the long run!