Netflix yesterday announced that it has introduced an unlimited leave policy for new parents, allowing them to take off as much time as they want during the first year after a child’s birth or adoption. Shareholders responded by bringing Netflix’s share price to an all time high (currently $126.80).
In a statement, the company said it recognises that its continued success hinges on competing for and keeping the most talented individuals in their field, and its “freedom and responsibility” culture is pivotal to support that.
In response to the news, Nic Marks, wellbeing research methodologist at Happiness Works commented: “While it is important to realise that the move only marginally goes above and beyond maternity and paternity rights here in the UK and Europe, Netflix is joining a band of innovative US tech companies recognising that in order to truly fulfil the potential of talented millennials as creative and groundbreaking, they need workplace structures that support flexibility and choice.
“With major players like Google, Facebook and now Netflix increasingly creating policies and supporting cultures that effectively bolster wellbeing both in and out of the workplace, it’s becoming clear that putting an organisation’s people first will ultimately lead to productivity and profitability. Not only is this a smart move, it’s a humane move too.”