Etsy to provide more than 6 months of parental leave
The Brooklyn, New York-based company's new leave policy has been applauded for being one of the most generous in the tech industry, while also enabling the company to attract and retain talent.
In a blog post, Juliet Gorman, Etsy's director of culture and engagement said that the company wants to support and enable parents, regardless of their gender, to play equal roles in building successful companies and nurturing their families.
Beginning in April, Etsy's employees will be eligible for 26 weeks of fully paid leave when they become a parent through birth or adoption, regardless of their gender, country of residence or family circumstance.
All parents at Etsy can take their 26 weeks of leave over the two years following the birth or adoption of their child.
At least eight of those weeks must be taken continuously in the first six months, as studies have shown that early caregiving time is critical for all parents to feel bonded and competent in the long term. The remaining 18 weeks can be scheduled flexibly over two years.
Gorman noted that a generous, fully-paid parental leave policy is a competitive necessity for a company like Etsy. However, she added that the goal of attracting and retaining the best talent was not the only reason to craft a policy like this.
Further, Gorman noted that compared to women without children, mothers are half as likely to be recommended for a promotion and offered an average of $11,000 less in salary. Fathers who take leave also experience lower performance ratings and steeper reductions in future earnings. ■