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 This generation of young Americans, who are now as old as 34,
demanded that work-life balance be more than aspirational. Now they
are getting their way once again as they move into parenthood.
The big splash came when Netflix Inc announced on Aug. 4 that it
would start offering new parents up to a year of paid leave. While
workers can take a full year exit and return with no break in pay,
the policy also allows for a more fluid situation, where, for
example, parents can break up their leave into several
non-consecutive parts - blending work and life from a whole new
perspective.
Not bad, considering paid maternity leave in the United States is
usually about 30 days, according to Mary Tavarozzi, a senior
consultant with benefit consultant group Towers Watson.
On the heels of Netflix's announcement, a number of other companies
have upped the ante as well in what may be a sort of family-friendly
arms race. Microsoft is extending leave for all new parents to 12
weeks. Adobe is clocking in at 26 weeks of paid leave for birth
mothers. Paternity leave doubles from the current two to four weeks.
And the list will keep growing.
Asked about the potential costs of the new policy, Netflix
spokesperson Anne Marie Squeo wrote in an email:
"Hard to make predictions since the policy is brand new, and there
isn't much to compare it with. We expect we will learn a lot as
employees begin making these decisions for themselves and managers
work with them to ensure coverage during their absences."
Netflix, with its soaring stock price and sunny outlook, can afford
to take chances. The company already gives many of its 2,200
employees unlimited paid vacation time and continues to flourish.
BENEFITS BANDWAGON
Not all companies can take big risks on benefits packages, though.
In order to attract millennials, there is growing pressure to live
up to the new, higher standard set by companies like Netflix, says
Jennifer Owens, editorial director at Working Mother magazine.
"They are all watching, and they are all making changes. It's a
great bandwagon for them to jump on," Owens says. "The bandwagon has
to include things like corporate culture. There needs to be more
than a big number on paper."
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In other words, paid leave works only if the company fully supports
it.
Companies have a lot of good options to attract millennials, Owens
notes. New state initiatives like those in New Jersey and California
can help subsidize the cost of better parental leave policies. And
if a fully paid leave is truly not viable, companies can also
consider partial pay as an option.
Paid leave can come at different kind of a cost, though. Millennials
must live up to new demands in the workplace. They may insist on,
and get, flexibility in terms of when and where they work, but
employers also expect them to be more available than previous
generations who were tied to the traditional 9-to-5, in-office
schedule.
That means a mother might be answering work emails while nursing her
newborn. Or a father might be on a client conference call as he is
pushing a playground swing. But, who cares, as long as work is
getting done?
It is a good bet that the increased leeway will create a new kind of
corporate bonding with millennial parents - just as they bond with
their new additions.
(The opinions expressed here are those of the author, a columnist
for Reuters.)
(Editing by Lauren Young and Frances Kerry)
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