Virgin just upped the ante for other companies with its new parental leave policy

In an announcement Monday morning by Virgin Management, Virgin Group Founder Richard Branson and Virgin Management CEO Josh Bayliss blew other companies out of the water by releasing a shared policy of up to one year fully paid leave for new parents. “This is a ground-breaking move from Virgin Management, which demonstrates that the health and wellbeing of our people is at our core,” Bayliss said. Virgin is one of a few companies offering this kind of enhanced benefits package.

Having a child is a life-changing experience and this policy means our employees have the opportunity to enjoy time with their families and have a great career.

Virgin Group Founder Richard Branson

As of this April in the UK, home to Virgin Management, working parents can share leave in turns during the first year after the birth or adoption of a child. Virgin’s new policy extends this benefit to include pay for all new parents, including fathers and adoptive parents, up to 100% of their base salary. One parent, however, can’t take a full year of paid leave alone — this time would have to be divided between parents. Virgin Management employees in the UK and Geneva who have been with Virgin for less than two years will receive 25% of their pay, while employees that have been with the company for at least four years will receive the full portion.

If you take care of your employees they will take care of your business.

Virgin Group Founder Richard Branson