Stockholm:
Volvo Cars will offer you all its personnel worldwide 24 weeks paid parental leave in a bid to assistance female executives and equal parenting.
The carmaker, which is based in Sweden but owned by China’s Geely Holding, has more than 40,000 personnel. From next month, all employees who have worked in Volvo plants and offices for at least a year will be entitled to the leave every single time they have a youngster and will get 80% of their base spend through the period, the enterprise stated on Tuesday.
Sweden is one of couple of nations that currently gives leave by law for either parent.
“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 enterprise, which previously did not have a international policy but adapted to nearby regulations, stated in a statement.
Around a third of Volvo’s senior managers are presently female.
The enterprise aims to raise that share to 50%, a spokeswoman stated, adding that Volvo’s new policy will enhance circumstances for employees on parental leave 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 international policy applies to either parent and the leave can be taken anytime inside the initially 3 years of parenthood.
In Sweden, new parents are in basic entitled by law to about a year of parental leave on up to 80% spend.
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