Have you heard about our new global parental leave benefit?
Family Bond by Volvo Cars
What is Family Bond by Volvo Cars?
At Volvo Car Group, all new parents with one year’s active permanent service now receive 24 weeks of parental leave, paid at 80 per cent of their base pay. The policy is for everyone – whether you’re a designer or a plant operator, whether you work in China or the USA.
There are no limitations on gender, age or marital status. The time can be taken within the first three years of parenthood. The policy is family inclusive: it’s for all parents and includes birth, adoptive, permanent care foster, and surrogate parents.
It’s not mandatory, but we do want to create a culture where our people feel safe and supported to take the time should they choose.
When parents are supported to balance the demands of work and family, it helps to close the gender gap and allows all parents to excel in their careers. But statutory paid parental leave varies around the world: some countries offer generous support while others offer nothing at all. That’s why we’ve taken the bold decision to extend our EMEA parental leave policy to all of our global employees.
We know just offering paid parental leave isn’t enough to encourage uptake. So we did our homework – checking the latest literature in psychology, neuroscience, behavioural economics and related sciences – so we can better understand what influences people’s decisions and behaviour.
This knowledge helps us when we talk with our people about their parental leave. We’re encouraging parents to take the time they’ve earned to bond more with their families. We truly believe this is important and we’ll share our experience over time so that other companies can learn from our progress.
It’s about values
Family Bond is more than a new benefit for our employees – it’s the embodiment of our company culture and values. Parental leave helps us build diverse teams, which sparks creativity and innovation, and strengthens our business.
At Volvo Cars, now is the time to take it.
What does the literature say?
We’ve completed an extensive literature review to improve our communication with parents and here we’ve summarised the findings. These expert opinions offer valuable insight into how important it is that we talk about parental leave in a way that encourages everyone to take the time.
Read the summary here
We want to lead the change
“We want to create a culture and environment that supports equal parenting roles for all genders. We are demonstrating and living our values, which in turn will strengthen our brand.”
Håkan Samuelsson, Chief Executive of Volvo Cars
“We want to lead change in this industry and set a new global people standard. By opting all our employees in to paid parental leave we narrow the gender gap and we get a more diverse work force, boosting performance and strengthening our business.”
Hanna Fager, Head of Corporate Functions and HR