Parento, the first and only paid parental leave program, rebrands heading into open enrollment

NEW YORK, Aug. 26, 2021 /PRNewswire/ -- Parento, an insurance-based solution for paid parental leave, unveiled a refreshed brand and rollout. "Our refreshed brand, anchored by two penguins and their chick, best aligns with the necessary work Parento is doing to make paid parental leave accessible and attainable for employers and employees," said Director of Marketing, Tiarra Hamlett. "Parento is a first-of-its-kind holistic approach to paid parental leave and parenthood."

A generational shift towards a healthier work-life balance, amplified by the pandemic, has catapulted paid parental leave into the national discourse. Up to 86% of millennials are less likely to quit if paid parental leave is offered, making it the third most desired employee policy. Gender-equal paid leave promotes children's development, improves maternal health, and supports household economic security.

Founded in 2019 by Dirk Doebler, Parento is an insurance-based program enabling employers to offer from 6 to 16 weeks of up to 100% paid parental leave for birthing and non-birthing parents, including adoptive, foster, and same-sex parents. Through its program, Parento offers access to a network of professional parent coaches providing 1-on-1 coaching, return-to-work support, and parenting resources.

As a former CFO, Mr. Doebler approaches parental leave through a finance and value-add lens, designing a product that proactively addresses the turnover and replacement costs associated with young parents. "Throughout my career I've realized that paid parental leave is not just an HR issue; it has to make financial sense for the firm and time-and-time again research shows that investing in paid parental leave pays dividends."

Studies show that paid parental leave has been linked to increases in tenure, a 70% reduction in turnover of new moms, an increase in earning power and wages by working mothers, and an increase in employee satisfaction and loyalty. Parento addresses the primary challenges of working parents and HR to retain top talent, empower working women and promote female leaders.

Parento currently has a presence in seventeen states, five of the ten largest states by population, representing over half of the US population. Their plan for 2021 is continued growth to transform the paid parental leave landscape.

Contact: Tiarra Hamlett, [email protected]

SOURCE Parento