Do lack of parental leaves drive employee turnover?

yes but not about the parental leave but about how the employee feel that there is no family support , specially that the employees mentality always consider the market benchmarks , so it may not lead to direct leave but it leads to easy to be attracted from other employer

Yes Definitely.

There are various Parental Leaves available in the organization. for example: maternity, paternity, and adoption leave etc..

Parental leave or family leave is an employee benefit available in almost all countries that provides paid time off work to care for a child or make arrangements for the child's welfare.

Therefore it is very important for the employee to have and also the company to provide parental leaves. 

Simple logic: Employees / Parents work for their kids (if they have) mostly. They earn money to support the family and especially the kids. If there are no parental leaves then why should they work for the company!!!