Richard Branson’s Virgin Management is taking employee benefits to a new level, announcing today a policy allowing up to one year of fully paid leave for new parents. Virgin Management said it will allow new moms and dads, including adoptive parents, to receive up to 100% of their salary over a 52-week period of shared parental leave. Employees with the company less than two years will receive 25% of their pay, while employees who have been with Virgin for at least four years will receive the full amount. Both parents share the total amount of leave, and can take it in turns or simultaneously. Branson, founder of Virgin Group, which counts Virgin America (VA) as a subsidiary, said in a statement, ‘If you take care of your employees, they will take care of your business. As a father and now a grandfather to three wonderful grandchildren, I know how magical the first year of a child’s life is but also how much hard work it takes. Being able to spend as much time as possible with your loved ones is absolutely vital, especially early on.’
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