Volvo Cars will provide all its staff worldwide 24 weeks paid parental go away in a bid to assist feminine executives and equal parenting.
The carmaker, which is predicated in Sweden however owned by China’s Geely Holding, has over 40,000 staff. From subsequent month, all workers who’ve labored in Volvo crops and places of work for a minimum of a 12 months will probably be entitled to the go away every time they’ve a baby and can obtain 80% of their base pay in the course of the interval, the corporate stated on Tuesday.
Sweden is considered one of few international locations that already affords go away by regulation for both mum or dad.
“Some countries do not offer any paid leave to new parents, or exclude certain groups of parents — the latter is particularly true for fathers,” the corporate, which beforehand didn’t have a world coverage however tailored to native laws, stated in an announcement.
Around a 3rd of Volvo’s senior managers are at the moment feminine.
The firm goals to lift that share to 50%, a spokeswoman stated, including that Volvo’s new coverage will enhance circumstances for workers on parental go away not least in China and the United States.
“When parents are supported to balance the demands of work and family, it helps to close the gender gap and allows everyone to excel in their careers,” stated Volvo Cars CEO Hakan Samuelsson.
The world coverage applies to both mum or dad and the go away may be taken anytime inside the first three years of parenthood.
In Sweden, new mother and father are on the whole entitled by regulation to round a 12 months of parental go away on as much as 80% pay.
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