Diversity, Equity, Inclusion & Belonging: Parental Leave
On this episode of Financially Naked: Stories from The Financial Gym, host Rachel Adaline sits down with Linzay Davis, founder of The Park Consulting, to explore the challenges and complexities of navigating parental leave in the U.S. Linzay shares her personal journey, which inspired her to create a company that helps new and expecting parents maximize their paid leave and understand their options. From explaining the four key ways to get paid during leave to offering tips on preparing for family expansion, Linzay is here to share helpful tips for anyone looking to balance work and family life.
Podcast Notes
The Park and Linzay’s Journey
The Park, Linzay's company, was created because of her personal experience with maternity leave. She struggled with a lack of clear information and support when she had children, and that inspired her to help new and expecting parents navigate parental leave and understand their options.
Linzay worked at a small company without an HR department when she had her first child. After a traumatic birth and dealing with postpartum depression, she had to return to work sooner than she was ready and left the job entirely shortly after. She wanted to create a resource to prevent other parents from feeling the same sense of failure and frustration.
The Park's mission and name come from the idea of playgrounds, designed for everyone but incredibly welcoming spaces for women. She wants workplaces to feel as welcoming for parents as parks are for mothers and women. The Park Consulting helps you navigate complex state laws and employer benefits to help parents navigate the system.
Linzay started by sharing advice on Instagram and TikTok, quickly gaining a following as parents sought answers to their leave questions. Now, The Park helps families across the U.S., with specialists for different states. Now, most clients find The Park through word of mouth.
Understanding Parental Leave Options
There are four primary ways to get paid when you start a family: state-sponsored benefits, employer benefits, short-term disability insurance, and using PTO, vacation, or sick days. The key is to puzzle piece these together to maximize paid leave time, which is where The Park helps
Parental leave is more than just the pay. It is a combination of pay, job protection, and legal protections. While the FMLA offers job protection for 12 weeks without pay, only 50% of Americans qualify, and there is no federal mandate for paid leave.
Every state has its own rules. Some states offer more robust benefits, allowing parents to take up to seven months off with pay. However, many states offer limited or no paid leave, leaving parents to rely on short-term disability, employer benefits, or other paid time off.
When you get a new job, it's important to sign up for short-term disability insurance if it's available. Even if you don't plan to have a baby, it can be helpful in other circumstances. If you plan to expand your family, make sure to review your health and disability insurance to make sure you have the coverage needed.
Tips for Navigating Parental Leave
Start planning early if you're considering extending your family. There are free resources online, but researching your options and preparing ahead is essential to ensure you get the most paid leave possible and are covered after the baby arrives.
Check with your employer and state about their parental leave policy, including short-term disability coverage and what is required to qualify for benefits. Don't wait until you're pregnant to start looking into it because you may not be able to get insurance after you are pregnant.
Remember, parental leave isn't just about getting paid – it's about job protection too. FMLA provides some protection, but it's minimal, so parents must explore all their options.
You do not have to navigate these confusing systems alone, The Park Consulting can advise you on how to structure your leave, use disability insurance, and maximize PTO for the longest possible paid time off when you have a baby.
If you want to work with a Certified Financial Trainer to help navigate your finances, schedule a free warm-up call today! If you have any ideas or questions for the show, send an email to trainerpodcast@fingyms.com.
Connect with Linzay & The Park Consulting
Website: https://theparkconsulting.com/
Instagram: https://www.instagram.com/theparkconsulting/
TikTok:https://www.tiktok.com/@theparkconsulting
LinkedIn: https://www.linkedin.com/company/the-park-consulting