Netflix: unlimited maternity and paternity leave for all employees

LOS GATOS, Calif., Aug. 5 (UPI) -- Netflix announced it is offering unlimited maternity and paternity leave for its employees.

In a statement, the California-based company announced Tuesday that the new leave policy will allow new moms and dads to take off as much time as they need during the first year after a child's birth or adoption.

"We want employees to have the flexibility and confidence to balance the needs of their growing families without worrying about work or finances," said Tawni Cranz, Netflix's chief talent officer. She added that new parents will be able to return to their job as full-time or part-time and leave again if necessary, vitiating the need to resort to disability pay. Employees are responsible for working with their managers in order to secure coverage during their absence.

Compared to other companies, Netflix's policy is generous. Google offers biological mothers 18 weeks of paid leave while Facebook offers all new parents four months of paid leave and a $4,000 stipend. Cranz wrote that individuals work better when they are not worried about home, which justifies Netflix's decision to offer unlimited leave.

A slideshow presentation called the "culture deck" by Netflix co-founder and CEO Reed Hastings shows that Netflix does not gauge it's employees performance by the amount of time they spend in the office. Instead, the company prioritizes "accomplishing great work."

Netflix's offer may be made easier to support by its earnings - with more than 65 million members, the company's revenue grew by 23 percent in the first half of 2015 to $3.2 billion. The news also accompanies Netflix's announcement that it will expand into Japan next month.