American Express Is Giving Workers 20 Weeks of Parental Leave and $35,000 for Infertility Treatment
As part of a larger effort to support employees throughout their “parental lifecycles.”
This story originally appeared on Fortune.com.
Add American Express to the growing list of companies that are sweetening their parental leave and employee benefits.
The financial services company announced Monday that it is giving men and women 20 weeks of fully-paid leave after welcoming a child through birth, adoption, or surrogacy. It’s also offering employees benefits worth up to $35,000 for adoption and surrogacy events as well as $35,000 for infertility treatment—including advanced reproductive technology procedures—through its health plan. Under the company’s old plan, primary caregivers could take six weeks of paid leave and secondary caregivers received two weeks off. Its surrogacy and adoption benefits previously stood at $10,000 and reproductive services and infertility treatments were capped at $20,000.
U.S.-based regular full-time and part-time employees are eligible for the new benefits after working for AmEx for one year. The policy kicks in January 1.
Conversations with employees as well as market forces prompted the change in policy, says Kevin Cox, chief human resources officer for AmEx. He says employees suggested that AmEx could support their parenting efforts “in a more complete way.”
“Clearly, it’s not getting any easier to juggle personal and professional [responsibilities],” Cox told Fortune. He also says there’s “a diversity dimension at play,” as the new policy could appeal to female and LGBTQ workers in particular.