An HR move from Virgin Group is garnering the company plenty of positive PR.
The company’s CEO, Richard Branson, announced a new parental leave policy this week, which affords a year of shared parental leave with 100 percent compensation to male and female Virgin Management employees with four years of service.
The policy also extends to parents who adopt. Employees with fewer than four years of service are eligible to receive 25 percent of their salary.
“I know how magical the first year of a child’s life is but also how much hard work it takes,” Branson said in a post on Virgin.com. “I’m delighted that we can offer this support to our staff so that they can enjoy parental leave to the full as we continue our work in changing business for good.”
Of course, something that sounds too good to be true probably isn’t. And there is a catch.
As The Independent points out, the Virgin Management group is a small division of Virgin’s overall operations:
The offer only applies to employees of Virgin Management, the overarching investment and brand licensing arm of the global Virgin Group. That means it only actually affects around 140 people employed at offices in London and Geneva.
All that good PR for rewarding 140 of your 50,000 employees? Well done, Sir Richard.