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Richard Branson Giving Full Year of Paid Parental Leave to Some Employees

Image: Richard Branson Giving Full Year of Paid Parental Leave to Some Employees
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By    |   Wednesday, 10 Jun 2015 03:07 PM

Richard Branson, Virgin Group founder, is offering a year of paid parental leave to certain staff members following the birth or an adoption of a child.

“As a father and now a granddad to three wonderful grandchildren, I know how magical the first year of a child's life is but also how much hard work it takes,” Branson said in a statement, CNN Money reported.

The 12-month, fully paid offer pertains to only the 140 staffers in London and Geneva that work for Virgin Management, the Virgin Group’s investment and brand licensing company, CNN noted. There are a total of 50,000 employees that work for Branson’s business in total.

Additionally, employees eligible for the fully paid year must have spent more than four years at the company in order to receive full compensation. Those with less than two years are eligible to earn 25 percent of their salary for 52 weeks.

Nonetheless, Virgin Management CEO Josh Bayliss called the policy “a groundbreaking move” and “something special for our staff,” according to The Independent.

The announcement follows U.K. law allowing new parents to share 50 weeks, 37 of them with partial pay, CNN noted.

Bayliss said the new government policy enabled the company to “review our existing maternity, paternity, and adoption benefits and offer something special to our people.”

“I’m delighted that we can offer this support to our staff so that they can enjoy parental leave to the full as we continue to our work in changing business for good,” Branson said, according to The Independent.

In September, Virgin Management employees also received permission to take unlimited leaves, CNN noted. That offer extends to those working in New York and Sydney as well.

“If you take care of your employees they will take care of your business,” Branson said in the recent statement.

The United States offers mothers just 12 weeks of unpaid maternity leave.

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Richard Branson, Virgin Group founder, is offering a year of paid parental leave to certain staff members following the birth or an adoption of a child.
richard branson, year, paid, parental leave, fathers, mothers
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2015-07-10
Wednesday, 10 Jun 2015 03:07 PM
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