Nike to Offer Eight Weeks of Paid Family Leave
May 11 2016 - 9:09PM
Dow Jones News
By Sara Germano
Nike Inc. will offer extended paid leave to employees caring for
new children or sick relatives, joining a growing slate of large
companies to increase such benefits as the topic gains political
traction.
The world's largest sportswear maker said it would offer eight
weeks of paid family leave to the parents of newborns, adopted or
permanently placed children, as well as eight weeks of paid leave
to workers caring for a sick relative.
The new policy will be extended to full-time U.S.-based Nike
employees working 30 or more hours a week, including retail
employees and American workers on international assignment. The
benefit will be backdated for qualifying workers who welcomed a new
child since July 1, 2015.
It marks the first time Nike will include fathers as part of its
paid family leave and extends benefits to expanding families of
different types. The new policy will be offered in addition to an
existing short-term disability benefit offering a minimum of six
weeks' paid leave to women giving birth.
The company employs more than 9,200 workers at its headquarters
near Beaverton, Ore., and more than 62,000 people world-wide,
including retail and part-time workers, according to its most
recent annual filing. The upgrades to Nike's benefits policy come
on the heels of similar announcements by other fast-growing
companies facing intense competition for hires, particularly in the
tech industry.
Last year, Netflix Inc. said it would offer unlimited paid
family leave for new parents, while Microsoft Corp., Blackstone
Group and Adobe Systems Inc. unveiled plans to offer between 16 and
26 weeks off for new mothers.
The issue of paid family leave has gained traction in state
legislatures and on the campaign trail this year. Governors Jerry
Brown of California and Andrew Cuomo of New York each signed
legislation this spring expanding such benefits for residents.
Both Democratic presidential hopefuls Hillary Clinton and Bernie
Sanders have made the issue a part of their policy platform on the
campaign trail this year.
The family benefits announcement accompanied Nike's periodic
sustainability report, which includes targets to reduce waste
output, improve sourcing and reduce emissions in owned or operated
facilities.
The 115-page report also gave a detailed look at diversity
within the company as of its most recent fiscal year. For the first
time, U.S. employees who identify as nonwhite reached a majority,
with white employees accounting for 48% of workers. Among global
workers, 48% are female and 41% of managers are women.
Write to Sara Germano at sara.germano@wsj.com
(END) Dow Jones Newswires
May 11, 2016 20:54 ET (00:54 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Nike (NYSE:NKE)
Historical Stock Chart
From Apr 2024 to May 2024
Nike (NYSE:NKE)
Historical Stock Chart
From May 2023 to May 2024