Richard Branson announces generous parental leave policy
Richard Branson has just announced that employees at Virgin Management will have access to a shared parental leave policy that offers full pay for up to one year.
Eligible staff include both men and women as well as parents of newly adopted kids.
This exceeds the standards the U.K. government enacted in April, which allows for up to 50 weeks of shared leave, 37 of which are eligible to be paid.
It is also better than most companies which generally do not offer benefits for new dads, particularly in America.
Virgin Management's CEO says the generous allowance "demonstrates that the health and wellbeing of our people is at our core."
However, the Washington Post points out that only about 0.2 percent of Virgin employees, or 140 people, will be able to receive their full leave pay.
It only applies to staffers at Virgin Management, which handles investments and licensing and is located in London and Geneva.
Eligible parents must also have been working for the company for a minimum of four years; otherwise, only a fraction of the salary will be paid out.