What is Parento?
Parento is a customizable paid parental leave insurance program, and the most comprehensive solution for employers to support working parents. We provide a fixed cost for employers to generously provide paid parental leave within budget, from 6 to 16 weeks at up to 100% of pay, covering all full-time employees who birth, adopt, or foster. Our gender-neutral insurance product complements state programs, including Paid Family Leave, and works alongside any private employer offerings such as short-term disability. Parento rounds out the HR and employee experience with high-touch parental leave management, and a robust support system for parents through private and group parent coaching, programming, and on-demand library.
What are the benefits of using Parento?
Parento provides budget certainty and an ability to plan for, manage, and process paid parental leaves for all employees. Through our program, we retain 95% of employees who return from parental leave, more than 30 points above self-funded and managed parental leave policies, and see over 10% engagement in coaching services. With our portal, HR can offload parental leave management, tracking, payroll calculations, and much more, easing the administrative burden and compliance risks for smaller teams.
How does the app work?
Employees take leave according to the company policy and the company is reimbursed for their salary expense when they are on leave. Parento steps in to administer the parental leave claim, including payroll calculations that account for state benefit programs and short-term disability policies. Our Parent Experience coaches proactively engage the employee to support their experience off-boarding and return from parental leave.
If you are an employer currently using this app and have questions, please contact your isolved Customer Service Representative.
If you are an employer interested in learning more about this app, please use the Contact Us button above to be connected.
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