American Express is the latest to board the parental-leave bandwagon. It is announcing today a significant step up in its benefits, not just to new moms and dads, but to those wishing to be.
The company will be making all of its 21,000 U.S.-based regular full-time and part-time employees (the company has 54,800 employees worldwide) eligible for 20 weeks of paid parental leave beginning on Jan. 1, 2017. In addition, it will be increasing its employee benefits for fertility, surrogacy, adoption and lactation.
Kevin Cox, Amex’s chief human resources officer, calls the step a reflection of the organization’s “continued investment in the overall well-being of our employees and their families.”
The new policy covers women and men welcoming a child through birth, adoption and surrogacy. In addition to the 20 weeks of paid parental leave, birthing mothers will be eligible to receive paid, medically-necessary leave related to the birth of their child, which is generally six to eight additional weeks.
In the words of David Kasiarz, senior vice president of global total rewards and learning at Amex, who I recently reached out to about the reasoning and motivation behind this move:
“In creating our new policy, we took a thoughtful approach. We looked at a variety of published research studies and gathered our employees’ overall thoughts on our current programs. We aimed to be inclusive of the needs of our diverse employee base. Most importantly, we wanted both women and men to feel like they can take the time they need to care for their families and bond with their children.”
“Research shows that an increase in paid parental leave has a far-reaching, positive impact on the mental and physical health of employees and their families, as well as women’s career advancement. Better health for our employees and their families is good for them and it’s good for us.”
As mentioned above, “to help ensure employees feel supported from the moment they decide to become parents through their return to work and beyond,” as its release states, Amex is also increasing a variety of existing family benefits. Beginning Jan. 1, U.S.-based employees will be eligible for:
- Benefits worth up to $35,000 per adoption or surrogacy event (up to a maximum of two events per employee) to help with the cost of surrogacy or adoption;
- A lifetime maximum of $35,000 for infertility treatment, including advanced reproductive technology procedures, available under the company’s health plans;
- Free 24-hour access to board-certified lactation consultants; and
- Free breast-milk shipping while traveling on company business.
Added to all of the above, beginning in January, expectant parents will have access to a parent concierge, who will help employees understand and navigate parental leave and the wide array of parental resources and programs available to them.
“We have a long history of offering benefits to support [all employees] and continually invest in their overall well-being — it’s our signature cause. We believe these changes to our parental-leave policy are the next steps forward in our journey.”
Amex is certainly not the first to enter the parental-leave fray. A search of this site and our HREOnline.com site features numerous predecessors — “new-economy” companies (such as Microsoft, Amazon and Netflix) and older ones (such as Dow Chemical, Johnson & Johnson, Bank of America and Goldman Sachs). IKEA announced its expansion just last week.
Both searches also offer insights into the challenges still plaguing new working parents and the growing need for companies to find new and better ways to retain them.
As Kasiarz puts it:
” … parenting has changed — traditional parenting responsibilities have evolved and more LGBTQ families are having children. We feel the new policy strikes the right balance between our employees’ and our business’ needs.”
I anticipate — well, certainly hope — we’ll see more and more employers thinking along these lines.