The ball keeps rolling. Another company has decided to expand the benefits it gives to its new-parent employees.
August has already seen four notable companies, Netflix, Microsoft, Adobe and Accenture, step up their parental benefits. Start counting from the start of the year and the total adds up to eight companies. Now, a Wall Street firm joins the list.
KKR & Co., a private equity firm, has expanded its paid parental leave. Aside from adding 4 more weeks to the current 12, it’s also letting baby and nanny fly with mom or dad on business trips with the additional expenses paid for by KKR.
The move is an effort to add more diversity to the company by retaining and attracting more women to the firm. “Too many same people means too much same thinking,” co-founder of KKR George Roberts told Bloomberg. Currently, out of the 97 senior professionals working for the KKR, only 12 are women, Bloomberg reported.
New-parent employees, who are primary caregivers of their newborn, will get to travel with their child and their child’s nanny on business trips. Transportation, lodging and meal expenses are paid for by KKR. This will be available to them up until the child’s first birthday.