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Netflix offers employees paid parental leave for one year

Last updated: 02:52 06 Aug 2015 AEST, First published: 00:52 06 Aug 2015 AEST

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Netflix's updated parental leave policy allows both mothers and fathers of newborns and adoptees to set their own work schedule, letting them return on a full- or part-time basis and take leaves as necessary during their first year with new children.

Netflix (NASDAQ:NFLX), which lets employees take as much vacation as they want, is now offering as much as one year of paid time off to new mothers and fathers in what’s probably the most generous parental leave policy in the U.S.

New parents can be away from the office for as many days as they choose in the first 12 months after a child’s birth or adoption, Netflix said in a blog post yesterday.

The employee benefit is generous even by the high standards of Silicon Valley, where free meals and other perquisites supplement lavish salaries in the competitive battle for technology workers.

“We want employees to have the flexibility and confidence to balance the needs of their growing families without worrying about work or finances,” said Netflix chief talent officer Tawni Cranz. “We’ll just keep paying them normally, eliminating the headache of switching to state or disability pay.”

Netflix's updated parental leave policy allows both mothers and fathers of newborns and adoptees to set their own work schedule, letting them return on a full- or part-time basis and take leaves as necessary during their first year with new children.

Parental leave in the United States has been a hot issue in the past year. During his State of the Union address in January, President Obama lamented that the U.S. is the only advanced country in the world that doesn't guarantee paid maternity leave. 

Federal law does guarantee new parents 12-weeks off, but only at companies with 50 or more employees -- and even then it doesn't have to be paid. Obama expanded parental leave for federal employees in January. They are now eligible for six weeks paid time off. 

Many major tech companies already offer progressive parental leave policies. Facebook offers new parents 4 months of paid leave, as well as $4,000 in cash. Apple offers expectant mothers up to 4 weeks of leave prior to delivery and 14 weeks after. Both companies also offer adoption services and subsidize the cost of freezing eggs for female staff, up to $20,000. 

Netflix gained 3 percent to $124.78 at 10:51 a.m. in New York, expanding this year’s rally to 157 percent.

 

 

 

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