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Volvo has been an innovator in the automotive field for many years, and today's announcement will set a new standard in safety, as reported in London Business Directory.
From tomorrow, the Swedish branded car manufacturer will pay 24 weeks of parental leave to families, offering further crash protection for it's family of employees around the World.
Who Will Benefit?
Volvo's announcement will benefit 40,000 employees around the World, including countries such as China, and the United States of America.
It may seem that the benefit will be in proportion of local standards, however Volvo has shrugged it's shoulders at that too, announcing Worldwide levels, that will surely crash proof the finances of families during these difficult times.
How Much Will Be Paid
It is worth noting that Volvo's offer will amount to 24 weeks of paid parental leave, at a whopping 80% of the base rate of salary! To put that into perspective, the UK government recommends that a worker is entitled to 18 weeks of 'unpaid' parental leave, that cannot be taken in one hit.
Volvo's announcement will be sure to cause many of us to think about changing jobs, even for a well paid window cleaner such as myself!
But, you might argue, 80% of your salary isn't that much when you only earn a few dollars a week. Well, that's not true in the case with Volvo. The average salary is over $128,000 per year, with even admin staff, the lowest paid on the scale, earning, on average, over $50,000 per year1
Who Owns Volvo?
Volvo is iconically a Swedish brand, however, Sweden is not now the owning country of this global brand. Previously, Volvo was owned by Ford Motor Cars, however now, Volvo is owned by Geely, a Chinese car manufacturer which is the property of billionaire Li Shufu.
Whilst some may have reservations about Chinese ownership, Shufu's generous compensation to staff of Volvo will be appreciated by all and sundry!
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