Microsoft Offers Enhanced Maternity And Parental Leave, Recognizes 2 More Holidays
Longer paid maternity & paternity leave plus paid holidays & improved 401(k) await Microsoft’s employees, the company’s blog said. The announcement came a day after Netflix trumpeted it offers unlimited paid maternity and paternity leave to all its employees.
Microsoft enhances its maternity disability leave to eight weeks with 100 percent paid wages for new mothers, who may also avail of 12 weeks of parental leave [for a total of 20 weeks] with 100 percent paid salary beginning Nov. 1, 2015. Executive Vice-President and Human Resources Manager Kathleen Hogan wrote on the blog the enhancements are in line with the company’s goal of evolving its “culture to one that embodies a growth mindset and that embraces diversity and inclusion.”
At least two weeks before mothers are due to give birth, they may opt for a short-term disability leave, while eligible parents may take advantage of parental leave, which can be a continuous 12-week period or two-period. And to prevent post-natal stress, they are given another option: to return to “work on a half-time basis.”
Improved Paid Holidays
Beginning next year, two additional company-wide paid holidays will be recognized by Microsoft—Martin Luther King Day and Presidents Day—to afford more time off from work and “to alight to the federal calendar and create time . . . to pause in the lengthy period between New Year’s Day and Memorial Day.” This is on top of the vacation leave that may accrue by employees.
Also taking effect on Jan. 1, 2016 is Microsoft’s better 401(k) match, which shall be raised to 50 percent of all regular deferrals, according to the blog.
“With the current IRS regular deferral limit of $18,000, this means employees will have the opportunity for Microsoft to match their contributions up to $9,000 per year,” Hogan explained.
“This will allow employees to save more through this tax-advantaged savings vehicle and grow their retirement savings faster,” she continued saying on the blog.
Hogan also assured that although these benefits are only available in the U.S., the company is willing to review the kind of compensations offered in each country and will exert efforts in aligning its “global benefits philosophy and the local regulations and dynamics in each market.”