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In this video, Josh, the founder of HR University, discusses bereavement leave, defining it as time off work for employees to cope with the death of a loved one. He explains that bereavement leave allows employees to manage their grief and handle necessary arrangements, such as contacting family and planning services. While many businesses offer a set amount of paid bereavement leave, not all do, prompting a consideration for a formal policy. Additionally, Josh highlights the importance of understanding current developments that may impact bereavement leave policies and eligibility, promising a detailed explanation of the concept in the tutorial.