Woah baby! Netflix to give new parents a year off on paid parental leave

Netflix announced Tuesday it will begin offering “unlimited” paid time off to employees during their first year as new parents, one of the most generous parental leave packages offered in the competitive tech industry. The video-streaming company now allows mothers and fathers to take as much time off as they desire during the first year after their child’s birth or adoption, while earning their normal salary. The updated policy is intended to help the company retain valuable employees, according to Tawni Cranz, Netflix’s chief talent officer. The updated policy allows both mothers and fathers of newborns and adoptees to set their own work schedule, letting them return on a full or part-time basis and take leave as necessary during their first year with new children.

Netflix’s continued success hinges on us competing for and keeping the most talented individuals in their field.

Netflix’s Chief Talent Officer Tawni Cranz said.

Netflix’s updated policy ranks among the most generous in an industry fiercely competing to attract and retain talented employees. At the high end is Twitter, which offers 20 weeks of paid leave to birth mothers, according to a recent survey by The Atlantic. Google offers biological mothers up to 18 weeks in paid maternity leave, with up to 22 weeks if there are complications. Facebook offers new parents 4 months of paid leave, as well as $4,000 in cash. Apple offers expectant mothers up to 4 weeks of leave prior to delivery and 14 weeks after. Both companies also offer adoption services and subsidize the cost of freezing eggs for female staff, up to $20,000. Netflix’s new policy was announced on the same day that their stock hit a new high, closing at $121.15, an increase of $8.59, or 7.6 percent.

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