Prysmian Group has introduced a new global parental policy to support staff in recognition of “the incredible value of parenthood”.
The cable and telecommunications company, which based in Milan, Italy, is now offering four key provisions, which include a 16-week minimum fully paid global parental leave period, up from 12 weeks, for mothers or primary caregivers.
The firm has also implemented a minimum global standard of two weeks of fully paid leave for fathers or secondary caregivers.
To further support families, the business is introducing a child benefit, referred to as a “baby bonus”. This will be awarded to all new parents – including biological, adopted, single parents and couples – for each child. The amount will be proportionate to the average income in the relevant country, and while it is currently optional, it will become mandatory from 1 January 2024.
A Leave and Back to Work Programme is also being reinforced, which is available to mothers or primary caregivers, starting just before their parental leave and continuing when they return to work. This provides access to coaching, training and counselling.
According to Prysmian Group, the new rules will “guarantee that, upon returning to work, new mothers/primary caregivers have the same opportunities as everyone else, feel included and ready to re-join their colleagues at work, and are not penalised for their parental leave”.
Fabrizio Rutschmann, chief HR officer at Prysmian Group, said: “At Prysmian Group we attach great importance to work-life balance, viewed as fundamental to people and their wellbeing. As a result, it is important to continue to ramp up efforts in areas such as equity and inclusion. In terms of work-life balance, parenthood is a fundamental aspect: supporting new parents is a concrete way to make this balance a reality. The goal is thus to ensure that Prysmian Group people do not view parenthood as something that penalises them, but rather as an opportunity that the Company fully supports.”
He explained that because the company is global and deals with various jurisdictions, the new policy sets a minimum global standard which raises the bar on these issues in all countries where it operates. He believes this ensures that “all those who work at Prysmian Group enjoy better opportunities and minimum benefits, regardless of the legislation to which they are subject.”