Virgin Group provides 52-week parental leave.

Richard Branson is not just a billionaire businessman. He's also a father and grandfather who understands the challenges of being a new parent.

That's how Branson, founder of the Virgin Group, described his support for a very generous parental leave policy adopted by Virgin Management, the investment and brand licensing arm of Branson's empire.


Virgin Management will now provide employees with four years of experience up to 100% of their salary over a 52-week period of shared parental leave. Those with fewer than two years of experience will receive 25% of their salary. The policy applies to both men and women, and to parents who adopt.

While Virgin employs more than 50,000 people around the world, the new policy will affect about 140 employees in London and Geneva, according to the Independent. The Virgin Management announcement did not compare its new policy to parental leave benefits at other Virgin brands.

"I know how magical the first year of a child’s life is but also how much hard work it takes," "I know how magical the first year of a child’s life is but also how much hard work it takes," Branson said. "I’m delighted that we can offer this support to our staff so that they can enjoy parental leave to the full as we continue our work in changing business for good.”

Research shows that paid parental leave can help companies retain employees and improve their performance, and it seems Branson agrees.

“If you take care of your employees," he said, "they will take care of your business.”