Good benefits are good for business
Proof that having progressive employee benefits makes good business sense too, was revealed last Friday, when streaming service Netflix saw its share price climb on the back of it announcing a major new parental perk.
Last week the firm surprised analysts by saying it would introduce unlimited leave for new parents – a policy that allows staff to take as much time off during the first year of their child’s first year (their own birth-children, or those they adop).
Shareholders responded positively when Netflix’s share price rose to a high of $126.00.
The news of Netflix’s new scheme comes as other internet giants, including ebay, Facebook, IBM and Google have all made a big deal of benefits that support a good work-life balance.
In fact, within 24 hours of the Netflix announcement, Microsoft announced it would offer all new parents an additional eight weeks’ paid time off.
In a statement, Netflix said it recognises that its success hinges on competing and keeping the most talented individuals in their field, so its 'freedom and responsibility' culture is a big part of this.