Volvo Cars gives all employees 24 weeks paid parental leave
Volvo Cars Family Bond will offer all its employees with at least one year’s service a total of 24 weeks of paid parental leave as of April 1st, 2021. The new policy applies to more than 40 000 employees worldwide in all plants and offices. Parents can take the leave anytime within the first three years of parenthood.
“We want to create a culture that supports equal parenting for all genders,” said Håkan Samuelsson, chief executive. “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.”
The global policy is more inclusive and supportive than many existing policies around the world. It includes all legally registered parents, including adoptive, foster care, and surrogate parents, as well as non-birth parents in same-sex couples.
Volvo Cars’ global policy is inspired by national legislation in Sweden’s home market, famous worldwide for its generous parental leave arrangements. “By opting all our employees into paid parental leave, we narrow the gender gap and get a more diverse workforce, boosting performance and strengthening our business,” said Hanna Fager, head of corporate functions.
Future career opportunities
When studying its parental leave pilot outcome, the company discovered that employees appreciated the policy for being gender-neutral, inclusive, and adaptable to personal needs. There still are some obstacles, however. Some parents have concerns about the impact the uptake of parental leave might have on their team or future career opportunities. That is why Volvo Cars has decided to communicate about the new policy more effectively.
Volvo Cars is determined to reduce the gender gap and will share its participation results over time so that other companies can learn from them.
Volvo Cars was founded in 1927. Today, it is one of the most well-known and respected car brands globally, with sales of 661 713 cars in 2020 in about 100 countries. Volvo Cars has been under the ownership of Zhejiang Geely Holding since 2010.