VODA: Act To Retain Key Women Staff
Post By Rounak Varun on 11-April-2015
Vodafone is set to become the first multinational to introduce minimum level of maternity pay. That is they are granting sixteen months of paid maternity leave to its women staff. Earlier they would lose onto their women staff due to maternity. Now this move is being considered a wise one taking into account the retention of female staff. After KPMG demonstrated, that the global businesses worldwide could save up to nineteen billion dollars a year by providing sixteen weeks of fully paid maternity leave Vodafone announced this policy.
Statistics say that recruiting and training new employees, to replace these women who leave work to care for their babies costs forty seven billion dollars alone, which is in fact higher than the twenty eight billion dollars that is the cost of the extra benefits. Vittorio Colao was quoted as saying that the policy would help more than a thousand women every year in countries with little or nil statutory maternity care. He also added that due to the high accountability of women staff their new maternity policy will play an important role in helping to bridge that gap. Supporting working mothers at all levels of our organization will ultimately result in better decisions, better culture and a deeper understanding of their customer’s needs.
I personally support this policy as this is a very clever move which favors both the sides in regard of business and profit. The benefit however is particularly generous in the United States and a sign that Europe’s more progressive family leave policies are making the way across the pond, offering hope that we’re slowly raising the bar on worker benefits. The policy is being called pioneering as very few international companies had introduced comparable policies. As well as making Vodafone an attractive employer it hopes to cut the costs incurred when staff leave to have children. The impact is likely to be the greatest in African countries, India and the US where legal minimum provision is low.
Vodafone said the new policy would be in place by the end of this year.
Mandatory number of days paid maternity leave is offered across the globe: