Volvo Cars announces 24-week parental leave for all employees worldwide

On 30 March car manufacturer Volvo Cars announced it is opting-in its more than 40,000 employees globally, in all plants and offices, into a new all-gender, paid parental leave policy. From 01 April, Volvo Cars employees will be able to receive 80% of their salary for 24 weeks over a period of up to 3 years after the birth of a child. This initiative is not new for the carmaker, which is extending its 2019 initiative launched for its employees in the Europe/Middle East/Africa area. The company’s statement noted that ‘When studying the outcome of its parental leave pilot, the company found that employees appreciated the policy for being gender neutral, inclusive and adaptable to personal needs.’ The 24-week leave will be open to all legally registered parents, including adoptive, foster care and surrogate parents, as well as non-birth parents in same-sex couples, even when countries do not legally recognize members of these categories as such. Volvo Cars’ global policy is inspired by its original home country and headquarters, namely Sweden, where both parents can share 480 days of paid leave, at 80% (up to a maximum of about €3,800 per month) of salary. The group also emphasizes the desire for professional occupational equality by encouraging more evenly distributed parental leave. “Through the Family Bond programme, we are demonstrating and living our values, which in turn will strengthen our brand,” stated Håkan Samuelsson, CEO of Volvo Cars.