Paid leave allows employees to take time off to care for a new baby or a relative with a serious illness, without losing all of their income. Paid leave helps families stay financially and physically healthy.

From an economic standpoint, offering paid leave can benefit employers, too. It can help employers save on hiring and training costs because employees are more likely to return to work if they have paid leave. Hiring a new employee can cost up to five times a worker’s annual salary.

To learn more about how paid leave can benefit the workforce and the economy, read the full report, here.