Netflix Gives New Moms And Dads A Year Of Unlimited Leave

Netflix Gives New Moms And Dads A Year Of Unlimited Leave

Netflix never fails to pleasantly surprise its customers, and now it has come up with an awesome scheme for its employees as well. Under this new scheme, mothers and fathers will be allowed paid parental leave for up to a year after the birth or adoption of a child. It will be left up to the new parents to decide whether they want off for a complete year or just part of it.

Netflix gives generously to new parents

Under the new policy, new parents can also choose to work part time or full time for a few months and then take paid leave for the rest of the time, getting their full salaries during their time off. They will also be eligible for the other benefits offered by the streaming company, and there won’t be any mandatory requirement for them to file for disability or other state coverage.

Robinhood 2021 Conference: Cathie Wood discusses her investment process with Lee Ainslie [Exclusive]

Yarra Square Investing Greenhaven Road CapitalARK Invest is known for targeting high-growth technology companies, with one of its most recent additions being DraftKings. In an interview with Maverick's Lee Ainslie at the Robinhood Investors Conference this week, Cathie Wood of ARK Invest discussed the firm's process and updated its views on some positions, including Tesla. Q1 2021 hedge fund letters, Read More

Netflix already has an unlimited time-off policy for vacation and sick days, but its current parental leave policy was not announced until now. Netflix Chief Talent officer Tawni Cranz said in a blog post, “Netflix’s continued success hinges on us competing for and keeping the most talented individuals in their field. Experience shows people perform better at work when they’re not worrying about home.”

Parental leaves and U.S. firms

A lot of debate has taken place over the issue of parental leave in the U.S. Paid maternity leave is guaranteed by all advanced countries of the world with the U.S. being the only exception. This is something that bothered President Obama, and he spoke about the matter in January in his State of the Union address. Companies having an employee strength of 50 or more are required to offer new parents time off for 12 weeks under federal law, but the leave can be unpaid, and thus many companies choose not to pay their employees during their leave. In January, federal employees got an extension in their parental leave from Obama, and now they are eligible for six weeks of paid leave.

Offering progressive parental leave policies is already a trend followed by many major tech companies, including Facebook, Apple, Google, and others, and now Netflix is also on this list. Parental leave for four months is allowed to new parents at Facebook, while a maternity leave of 14 weeks is allowed for new moms at Apple.

No posts to display