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Netflix and Microsoft Announce New Employee Benefits

Yesterday Netflix announced that they will immediately begin offering unlimited maternity and paternity leave.  Microsoft followed up yesterday’s announcement by Netflix with one of their own by announcing an increase in paid maternity leave for both new parents.

Tawni Cranz, Netflix’s Chief Talent Officer, issued the following statement regarding this policy change.

“At Netflix, we work hard to foster a “freedom and responsibility” culture that gives our employees context about our business and the freedom to make their own decisions along with the accompanying responsibility. With this in mind, today we’re introducing an unlimited leave policy for new moms and dads that allows them to take off as much time as they want during the first year after a child’s birth or adoption.”

“We want employees to have the flexibility and confidence to balance the needs of their growing families without worrying about work or finances. Parents can return part-time, full-time, or return and then go back out as needed. We’ll just keep paying them normally, eliminating the headache of switching to state or disability pay. Each employee gets to figure out what’s best for them and their family, and then works with their managers for coverage during their absences.”

“Netflix’s continued success hinges on us competing for and keeping the most talented individuals in their field. Experience shows people perform better at work when they’re not worrying about home. This new policy, combined with our unlimited time off, allows employees to be supported during the changes in their lives and return to work more focused and dedicated.”

Microsoft’s New Employee Benefits

On the heels of the Netflix announcement, Microsoft announced a few new benefits for its American employees. New Parents benefit the most with increased family leave benefits. New mothers will now get 12 weeks of maternity leave at 100 percent pay instead of just four weeks paid and 8 weeks unpaid. In addition they can get eight weeks of maternity disability leave, also at 100 percent pay.

New Dads will also now receive the same 12 weeks at full pay. Eligible parents will now have the option to take their Parental Leave either in one continuous 12-week period or split into two periods. These parents will also have the option to phase back into work on a half-time basis.

In a statement released earlier today, Microsoft’s Kathleen Hogan, executive vice president for human resources, wrote  “When I look at how rapidly the traditional workplace is changing, not just at Microsoft, but throughout business in general, I see a tremendous opportunity for companies to put a stake in the ground around what they believe in and what kind of culture they want to build together with employees. This is certainly the case with Microsoft, as we evolve our culture to one that embodies a growth mindset and that embraces diversity and inclusion.”

Microsoft also announced that they will be offering new benefits:

  • Two extra paid holiday days, Martin Luther King Day and Presidents’ Day.
  • An increased 401(k) match, with the company now offering a 50 percent match for all contributions up to the regular deferral limit of $18,000. Microsoft will now be contributing $9,000 a year to retirement plans. Previously, Microsoft would only match 50 percent of the first six percent of income deferred.

View the Microsoft Benefit Announcement Below:

Employee Benefit Update by Microsoft August 2015[embeddoc url=”http://blog.tavorro.com/wp-content/uploads/2015/08/Employee-Benefit-Update-by-Microsoft-August-2015-.pdf” download=”all” viewer=”google”]

What benefits does your company offer and are you happy with them?  Share your thoughts, ideas and questions below via comments.

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