Virgin Group—comprised of names like Virgin Atlantic, Virgin America, and Virgin Galactic—is pioneering a new approach to paternity and maternity leave. Last year, founder Sir Richard Branson announced the company’s new vacation “non-policy” which allowed for unlimited vacation time. This year, Branson is catering to new fathers and mothers.
Virgin’s new paternity/maternity leave policy allows employees in the Virgin Management sector to take a full year of leave with 100% pay benefits. Those 140 employees in the London and Geneva offices are eligible to take the leave, which extends to mothers and fathers, as well as adoptive parents.
The only caveat, if it can even be called that, is the length of time an employee has worked for the company; an employee who has less than 2 years with the company is only eligible for 25% of their yearly pay, while an employee who has been with Virgin Management for at least four years is eligible for his or her full pay.
According to Branson, “if you take care of your employees they will take care of your business.”
Source: The Independent & Business Insider