If you're hoping to have a baby within the next five years, it might be worth your while gently trying to persuade your other half to jack in his job and apply for one at Virgin. Or scanning their jobs listings yourself, for that matter. Why?
Because the firm has announced plans to offer new fathers a year's paternity leave on full pay - but only dads who have worked for Virgin for four years or more will be eligible for the full year of leave on full pay. The package will apply to fathers who wish to take shared parental leave. But it's not just dads who stand to benefit; the firm is offering a year’s full pay for all employees with four years' service employees taking maternity, paternity or adoption leave.
Most companies offer new Dads a grudging couple of weeks – but new fathers who work at Virgin will soon get up to a year on full pay. The pay is service-related, from 25% for those with less than two years’ service, to 100% for those with more than 4 years’ service. It also applies to adoptive parents.
It's a generous scheme, given that statutory paternity leave only entitles new fathers to a fortnight off work. If their average weekly earnings are £112 or more (before tax), Ordinary Statutory Paternity Pay is paid for one or two consecutive weeks at £139.58 or 90 per cent of your average weekly earnings if this is less.
It seems the move might have come as a result of Virgin founder Sir Richard Branson recently becoming a grandfather. He said:
"I believe if you take care of your employees they will take care of your business. As a father and now a granddad 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."
TOPICS: Paternity leave