Multinational engineering company, Sandvik, has a rich pedigree of pioneering diversity, equity, and inclusion (DE&I) in the workplace. Its new global paid parental leave program continues this tradition.
The return on investment case for the initiative is clear. Research indicates it will boost productivity and job satisfaction, while enhancing Sandvik capacity to attract and retain top talent.
Paid parental leave contributes to better work-life balance
Sandvik believes its workers can only thrive professionally if they are flourishing personally. In introducing global paid parental leave for all, the company is backing up its rhetoric with action and setting a new standard in corporate benefits.
As Sandvik President and CEO, Stefan Widing puts it, "We believe it is crucial for us to be successful as a company to be able to attract, retain and develop our employees. And we believe work-life balance is very important for that."
The parental leave program will provide 90 percent of an employee's base salary in countries where no equivalent or better benefit already exists for them. This means the primary beneficiaries of the program are expected to be men, who are disproportionately underserved at present in this area.
Widing has first-hand experience of the force for good credentials of such a benefit. "I live in a country where we've had this benefit for some time and spent six months at home with each of my boys. It was very rewarding and helped me at work because of the personal development I experienced," he explained.
Parental leave for all a catalyst for cultural change
The gender-neutral program acknowledges that families come in all shapes and sizes. In embracing diversity, the company is setting a precedent for the future and helping to shift workplace attitudes towards parental responsibilities. Where it leads, it expects others to follow.
The paid parental leave program was launched in July 2024. with Canada and several countries in Eastern Europe the first to benefit. Within 12 months, all countries where Sandvik is active will be able to access the initiative.
With the introduction of paid leave as a standard benefit anywhere in the world, now non-birthing parents can be involved in the critical early stages of a child's life too. Humanity transcends geography, and Sandvik has determined that an initiative which helps to erode outmoded attitudes towards gender must not be bound by borders.
Sandvik speculates to accumulate
Systemic shifts can come at a cost in the short term. And it is true that up to 14 weeks paid parental leave for any full or part time employee with at least one year's service to be taken within 12 months of the birth or adoption of a child has a price attached.
Yet, Sandvik views any costs associated with embedding the program to be a worthwhile investment in the company's future. Moreover, this development will ensure the Swedish-headquartered firm is on the right side of history and aligned with values of inclusivity and equality.
The newly expanded parental leave is much more than a perk. It is a statement: A statement that echoes the company's commitment to innovative solutions, equality of opportunity, and to the view that there is nothing inconsistent between career progress and meeting family obligations.
Learn More About Sandvik's Commitment to People and Progress
Discover more about how Sandvik's global parental leave program is reshaping workplace culture and setting a new standard for inclusivity and balance.
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