Volvo is giving every employee 24 weeks of paid leave when they become a parent.
The Swedish car company said the new parental leave policy would go into effect on April 1.
“We want to create a culture that supports equal parenting for all genders,” said Håkan Samuelsson, chief executive, in a press release. “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. We have always been a family-oriented and human-centric company. Through the Family Bond program, we are demonstrating and living our values, which in turn will strengthen our brand.”
Volvo said the Family Bond policy would allow all employees who have worked with the company for at least a year to choose to take either 24 weeks of leave at 80% of their base pay or take 19 weeks at 100% base pay.
The company said the policy applies to either parent and can take the leave anytime within the first three years of parenthood, including birth, foster, or adoption.