PORTLAND, Ore.--(BUSINESS WIRE)--Standard Insurance Company (The Standard) announced today the expansion of its parental leave benefits for all eligible U.S. employees. These benefits now extend to biological, adoptive and foster parents and the change increases the allotted time off to eight weeks of leave with full salary replacement following birth, adoption or foster placement. The new policy took effect on Sept. 1, 2019.
“The Standard has always been a company grounded in helping people. Now, we’re taking a step to better support our employees as their families grow, by announcing a significant enhancement to our parental leave benefits for eligible U.S. employees,” said John Hooper, vice president of Human Resources of The Standard.
The new parental leave policy is designed to support and enable parents to play active roles in nurturing new family members. The plan provides eight weeks of paid parental leave.
“We care about our employees’ well-being, and this new policy empowers them with the flexibility to make it easier to choose both family and career. We also believe it will enhance our ability to attract and retain top talent and lead to the continued success of our company,” said Hooper.
The enhanced parental leave benefit builds upon The Standard’s existing benefits program that offers comprehensive medical benefits, including fertility assistance, and flexible work and remote work options.
About The Standard
The Standard is a family of companies dedicated to helping you achieve financial well-being and peace of mind. In business since 1906, we are a leading provider of financial protection products and services for employers and individuals. Our products include group and individual disability insurance, group life, dental and vision insurance, voluntary (employee-paid) benefits, absence management services, and retirement plans and annuities for employers and individuals. For more information about The Standard, visit www.standard.com or follow us on Facebook, Twitter or LinkedIn.