AXA has launched its first global policy offering inclusive parental leave and support, while increasing its offering in the UK.
The new initiative will provide 16 weeks fully paid leave for the primary parent and four weeks for the co-parent, in a move which the company says recognises the changing dynamic of the modern family.
The parental leave policy will roll out in the 64 countries that AXA operates in from January 01, 2017, supporting all employees including same sex couples, adoptive and single parents.
AXA’s chief executive, Thomas Buberl, said the company’s global culture supports employees and allows them to have fulfilling professional and personal lives.
“Our values demand that all our employees are respected and their individual differences are celebrated,” he said.
“This first global policy will give all our employees, wherever they work in the world, the ability to enjoy the most precious time with the new additions to their families secure in the knowledge that AXA will support them.”
The move to offer four weeks paid leave for co-parents is a substantial increase from AXA’s current offering of one week’s paid paternity leave in the UK, the company said in a release.
For the lead parent – who will be able to return to an equivalent role after 16 weeks’ leave – the new entitlement means an extra one week of leave for those in the UK.
AXA will also continue to support flexible working options for both parents where possible, and will provide support before, during, and after parental leave, it said.
The policy will enhance and standardise the offering to employees around the world, Lucinda Charles-Jones, AXA UK human resources director, said.
“In the UK the benefits offered, particularly relating to co-parental leave; ensure AXA is one of the leaders in the sector,” she said.
“We recognise that parental support is an important cornerstone of any employment offer and a significant competitive advantage in attracting and retaining the best talent.”
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