Automaker Volvo is now offering all of its employees worldwide 24 weeks (six months) paid parental leave.
The Swedish carmaker has over 40,000 employees globally. Starting in April, all staff who have worked in Volvo plants and offices for at least a year will be entitled to the parental leave each time they have a child and will receive 80% of their base pay during the period, the company announced.
Sweden, like Canada, is one of few countries that already offers leave by law for either parent when a child is born.
Around a third of Volvo’s senior managers are currently female. The company aims to raise that share to 50%, adding that Volvo’s new policy will improve conditions for staff on parental leave in countries such as China and the United States.
Volvo’s global parental leave policy applies to either parent and the leave can be taken anytime within the first three years of parenthood. In Sweden, new parents are entitled by law to around a year of parental leave at up to 80% of their regular pay.
