It’s All In a Name: Is Your Parental Leave Policy Inclusive?
By Jessica Hawley, CLMS
Manager, Accommodations & Leaves
RBC (Royal Bank of Canada, U.S. Operations)
Implementing a new leave plan or policy can be difficult and complex, especially with parental/bonding leaves in which overlapping legal and cultural issues may generate powerful emotions.
The main factors to consider when implementing a parental leave plan are:
- Your company’s employee population (size, age, gender composition)
- The duration of the leave
- Current legislation
- The name of the plan
- Your company’s values and culture
At RBC Capital Markets (RBC), we have two main U.S. business segments with two different employee populations, business personalities, and market competition. One of the businesses has many locations across the country with very few employees at each site, which makes it challenging to offer longer paid leaves. The other business prioritizes maintaining a competitive edge with other companies in the industry. Since our two main divisions are different in their populations and needs, we needed two separate parental leave plans. Both businesses offer 100% paid leave for new parents; however, the duration of the leaves differs for the two businesses.
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