Netflix’s happens to be a huge success by keeping the most talented and outstanding individuals in their region. Theories and facts show that employees perform better at work if they are not worried about domestic issues.
This is why the streaming media king has come up with yet another policy, combined with unlimited time off, it allows the workers to be supported during crucial transitions in their personal life like paternity and maternity leave, mid-life crisis, and then it works with replacements for coverage until the period of time they return back to work.
The employees are now allowed to take paid unlimited maternity and paternity leave; Netflix made a proclamation on Tuesday. This leave policy will be applied in the period of the first year when the child is born or adopted. Parents are offered to take as much paid off time they need during this period. New parents can choose to return back to work on a part-time or full-time basis and then leave again when they are required. The on-demand internet streaming will pay full salary and offer various benefits.
Netflix wants the employees to enjoy the confidence and flexibility to maintain the growing families’ needs without bothering about finances or work either.
Usually, pregnant employees have the authority to take paternity or maternity leave of up to 17 weeks of unpaid time off from work. In some cases, it may be longer. Employers do not pay for this kind of leave. New parents take the leave that is the unpaid time off when a child is born or the baby comes into their care for the first time. Female employees who take the pregnancy leave are applicable up to 35 week’s leave, and the ones who do not take pregnancy leave are entitled up to 37 weeks of unpaid time off for parental leave along with their partners. Parental leave is not a subject of pregnancy leave so a female employee can take parental and pregnancy leave both at a time. The right to pregnancy varies to the right of parental leave.
The federal law grants 12-weeks leave, but this is only applicable for companies with more than 50 workers, moreover, these leave is unpaid. In January, Obama broadened the parental leave policy for federal workers, which makes them eligible for a paid six week's time off.
Netflix has surpassed all such traditional leave policies, this latest unlimited parental leave policy is the latest perk being lavished on employees as they aim to attract the best of talents. Other perks include laundry services, free meals and spa massages.
The company already has the unlimited paid time off policy, this new initiative by the company won’t make any substantial difference in the policy, but it will show the company’s approach to be kid friendly. It wants a breed of best employees ever-ready for the market full of tough competition and this initiative is acknowledging their employee’s rights as parents for the newly born or adopted, so that the employees can be happy, satisfied and thrive for the best when they are back to the pavilion.
The company describes this as a little reward for its employees, who have been a great support and help for leading it to another all-time high milestone on Tuesday. According to the reports, the stock hiked in trading for more than 8%, which means $122.79 per share.
Many big tech organizations already offer liberal leave policies for new parents. At Facebook, four months time off is offered. Apple, for instance, offers maternity leave of 14 weeks while partners are eligible for six weeks off.
Such policies prove to be a huge benefit to companies for competing over higher talents, and an expanded maternity leaves help companies to get hold of female workers.
This new leave policy initiative for both men and women is a big promising sign, and females won’t get penalized. This also happens to be a huge step towards the effort for workplace gender equality. And this is very promising, aspiring and freaking great!