First Data Unveils New Paid Parental Leave Policy
- Category: Corporate
Progressive gender-neutral policy to provide primary caregivers
with twelve weeks of paid leave
NEW YORK, December 22, 2016 – First Data (NYSE: FDC), a global leader in commerce-enabling technology, today announced a new workplace policy that provides fully paid parental leave to both full-time and part-time employees. The initiative is designed to provide parents, regardless of gender, with the critical time needed to care for their child without the financial constraints that come with unpaid leave.
Beginning in January, the policy includes 12 weeks of paid leave for primary caregivers, and two weeks of paid leave for secondary caregivers. The parental leave can be taken in connection with the birth of an employee’s child – through natural birth or surrogacy – or the placement of an adopted or foster-care child in an employee’s home. This policy will serve as a global baseline for First Data’s parental leave, subject to local and country-specific laws.
“As our global team of 24,000 people celebrates the holidays with their families this year, we are thrilled to announce our new gender-neutral paid parental leave policy that puts families first,” said Anthony S. Marino, executive vice president, Head of Human Resources at First Data. “At First Data, we believe that cultivating an environment where everyone can thrive professionally without sacrificing essential family obligations ultimately creates a more productive, long-serving and loyal workforce.”
First Data’s enhanced policy aligns with other companies known for offering employees the best benefits for new parents. According to the 2015 employer benefits of the Society for Human Resource Management, 21% of U.S. companies made some type of paid maternity leave available, while 17% offered paid paternity and/or adoption leave.
Employees must have worked at First Data for at least one year to become eligible. The first eight weeks of paid leave must be taken consecutively after delivery, adoption, or foster-care placement. The remaining four weeks can be used on an intermittent basis, either in the three months leading up to, or the six months after, the child’s birth, adoption, or foster-care placement.
In recent years, First Data has undertaken a number of initiatives to strengthen company culture and foster a more open and inclusive workplace. This includes the development of eight employee-led affinity groups, as well as the introduction of enhanced benefits for LGBT employees. Recently, First Data earned a perfect score on the 2017 Corporate Equality Index for the third consecutive year.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology and solutions, serving approximately six million business locations and 4,000 financial institutions in 118 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,500 transactions per second and $1.9 trillion per year.