Consider this scenario: a key employee unexpectedly needs to take an extended leave. Is your business financially and structurally prepared to handle that without a hitch? This is a challenge many small businesses face, and it's crucial to be prepared.

As we wrap up our series on sabbaticals, leaves, and breaks, we will examine the policies and financial planning that underpin them.

To guide us through this topic, we have the privilege of hearing from Kate Tyson, a seasoned professional from Wanderwell, a consulting and bookkeeping practice focused on small businesses and innovative business models. Kate, who has recently navigated the planning for paid parental leave for one of her team members and is preparing for a sabbatical later this year, brings a wealth of experience and insights to the table.

So, how can a small business with limited resources effectively offer comprehensive benefits like paid parental leave? Kate, drawing from her practical experience, delves into the myriad of considerations she faced while developing her company’s policy and planning for her team member’s absence and her own upcoming break, providing actionable insights that can empower small business owners and managers.

Listen to the full episode to hear:

• How the wide variability in state-level leave programs can complicate creating an equitable policy when you have employees in multiple states
• How Kate and Wanderwell planned for coverage of clients and ongoing projects as her team member went on leave
• Why Kate says that overcommunication about transitions might be more about you than what your clients need or want
• The delicate balance between wanting to provide benefits and not overcommitting financially to the detriment of the business
• Why Kate has moved away from an hourly wage model for her team members
• How Kate is planning for her own sabbatical and how it will impact the business

Learn more about Kate Tyson:

• Wanderwell
• Wanderings Newsletter
• Whiskey Fridays Podcast
• Connect on LinkedIn

Learn more about me, Susan Boles:

• Beyond Margins
• Connect on LinkedIn

We value your thoughts and feedback. Feel free to share them with Susan here. Your input is not just valuable, it's crucial in shaping future episodes.

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We value your thoughts and feedback. Feel free to share them with Susan here. Your input is not just valuable, it's crucial in shaping future episodes.