As a New Mexico business owner, I’ve learned that investing in employees is not just the right thing to do — it’s good for business.
This year, the New Mexico Legislature has the opportunity to enact House Bill 11, a paid family and medical leave bill that promises to benefit employees and employers alike. While critics may worry about the costs, the reality is that it’s funded through employee and employer contributions, paid quarterly through payroll deduction.
Employees pay $5 for every $1,000 of wages per year. The 34% of employers who pay an employer contribution (five or more employees) pay $4 for every $1,000 of wages per year.
In my 20-plus years as an HR professional and business owner, I’ve seen how employee morale and well-being directly impact a company’s ability to compete and succeed. When employees feel supported during life’s challenges, they are more engaged, loyal and productive, qualities that strengthen a business’s bottom line and its ability to retain talent.
One instance that really stands out involved an employee who faced a family medical crisis. Without access to a program like Paid Family and Medical Leave, they were forced to piece together vacation days and take unpaid time off to care for their loved one.
While we did everything we could to help, the financial and emotional strain was significant. Had paid family and medical leave been available, it would have alleviated much of their stress and allowed them to focus fully on their family. It’s hard to overstate how much that kind of support could have improved their morale and deepened their loyalty to our organization.
Programs like paid family and medical leave also provide broader benefits to businesses. They reduce turnover by helping retain employees during challenging times, saving on recruitment and training costs.
Employees who return to work after having time to recover or care for loved ones are more focused, less stressed and better prepared to contribute. Moreover, offering paid leave helps businesses attract top talent, especially as more states adopt similar policies.
As a business owner, I know how difficult it can be for smaller companies to compete when it comes to benefits. A program like paid family and medical leave, with shared funding, levels the playing field by enabling businesses of all sizes to provide meaningful support to employees without incurring high costs. It’s a win-win for employees and businesses alike.
In today’s competitive job market, offering paid leave can set your business apart. Skilled workers are looking for benefits that align with their values, and a strong leave policy makes New Mexico businesses more attractive to top talent.
Turnover is one of the most expensive challenges for businesses, with recruitment and training costs often exceeding 20% of a position’s annual salary.
Paid family and medical leave reduces employee turnover by providing stability and demonstrating that businesses value their workforce. When employees know they can take care of their families or recover from an illness without risking their jobs, they’re more likely to stay long-term.
At its core, HB 11 is a win-win — supporting New Mexico families while benefiting employers. As business owners, we understand that our employees are the heart of our operations. By supporting paid family and medical leave, we’re investing in a healthier, more productive and more equitable workforce that benefits everyone.
It’s time for New Mexico to take this important step forward. I urge my fellow business owners and legislators to support HB 11. Let’s ensure our state remains competitive, compassionate and committed to creating a thriving economy that works for all.
Francine Campos, SHRM-SCP, is the owner of the Leading Success Business Services and a co-chair, Professional Development Committee, Women in Business Industry Group, Albuquerque Hispano Chamber of Commerce.
By Francine Campos, Business Owner
Published Feb 3, 2025
Santa Fe New Mexican