Virgin Management may not be the most glamorous corner of Richard Branson's empire to work for, but the employees of Virgin Group's finance and brand-licensing branch just got a really big perk — at least those of them who will have a child or adopt one. Branson, already vying for World's Best Boss title for offering unlimited vacation to the Virgin Management staff, is now offering new parents — birth or adoption, male or female — 52 weeks of paid parental leave.
Only employees who have been with Virgin Management for four years get 100 percent of their salary for the year, but all employees get at least 25 percent. The offer is good for the roughly 140 employees at Virgin Management's London and Geneva offices. Virgin Management CEO Josh Bayliss said the new policy was inspired by Britain's new Shared Parental Leave law, which lets working parents divide 50 weeks of parental leave (37 of them paid) in any way they see fit.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
Simulation theory: why The Matrix may be closer to fact than fictionThe Explainer Hypothesis that reality is an advanced super-computer simulation is backed by philosophers, scientists – and Elon Musk
-
The Zelensky Story: as 'astonishing as it is inspirational'The Week Recommends BBC Two's three-part documentary features 'genuinely revealing' interviews with the Ukrainian president
-
Why you need a pension to avoid 'retirement regret'The Explainer Millions could face a shortfall in their golden years by failing to save for their retirement
-
Empty-nest boomers aren't selling their big homesSpeed Read Most Americans 60 and older do not intend to move, according to a recent survey
-
Brazil accuses Musk of 'disinformation campaign'Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
-
Disney board fends off Peltz infiltration bidSpeed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
-
Disney and DeSantis reach detenteSpeed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
-
Visa and Mastercard agree to lower swipe feesSpeed Read The companies will cap the fees they charge businesses when customers use their credit cards
-
Reddit IPO values social media site at $6.4 billionSpeed Read The company makes its public debut on the New York Stock Exchange
-
Housing costs: the root of US economic malaise?speed read Many voters are troubled by the housing affordability crisis
-
Feds cap credit card late fees at $8speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
