Virgin staff on parental leave get year’s pay up to 100 per cent of basic salary
Sir Richard Branson’s Virgin will offer staff who take shared parental leave after the birth of their child up to a full year’s pay, under new policies announced today by the fitness-to-financial services giant.
The government introduced new rights in April allowing parents to share up to 50 weeks of leave and 37 weeks of pay following the birth or adoption of their child.
Virgin said that on the back of the reforms it plans to offer all parents, irrespective of gender, up to 100 per cent of their basic salary over the 52 week period of shared parental leave.
The pay is service-related, from 25 per cent for those with less than two years’ service, to 100 per cent, for those who have worked at Virgin for more than four years.
“If you take care of your employees they will take care of your business. As a father and now a granddad to three wonderful grandchildren, I know how magical the first year of a child’s life is but also how much hard work it takes,” Branson said in a statement.
“I’m delighted that we can offer this support to our staff so that they can enjoy parental leave to the full as we continue to our work in changing business for good,” he added.
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