Successful organizations understand their employer brand and how it represents a competitive labor advantage. It's not about valuing employees, it's the perception of value. Post-COVID, good performers are going to gravitate to organizations they perceive as safer, meaning the organizations with the best leave policies and flexible work options are going to get the best people, ergo competitive advantage. Even in industries where employer safety and wellness hasn't traditionally been a priority for employers (retail sales, food service, etc.), organizations will promote policies that signal they "care"; higher wages can only go so far in recruiting good employees, I believe that sick leave and family leave policies will be second only to pay in terms of importance to workers moving forward.
Of course this may be temporary in the scheme of things - we are a forgetful society.