Volvo has announced a 24-week, gender-neutral parental leave for all its 41,500 global workers, taking inspiration from a similar national legislation in Sweden, its home market.
The carmaker announced on Tuesday that the new parental leave policy, irrespective of gender, will be applicable from 1 April in all its plants and offices across the world. The ‘Family Bond’ policy will ensure “24 weeks of leave at 80 per cent of their base pay by default” to employees with at least one year’s service. The leave can be availed within the three first years of parenthood.
“We want to create a culture that supports equal parenting for all genders. 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,” Volvo’s chief executive officer Hakan Samuelsson said.
He said Volvo has always been a family-oriented