New moms and dads — and maybe some prospective ones, as well — are no doubt rejoicing as Virgin Group CEO and self-proclaimed "tie-loathing adventurer" Richard Branson announced this week that new parents would receive up to a year's pay while they were at home enjoying their new babies.
"I believe if you take care of your employees they will take care of your business," Branson said in a statement.
While many new mothers and fathers in the United States and other countries struggle with taking time off of work to care for their newborns, Branson hopes he can at least help out both natural and adoptive parents who work under his own corporate umbrella.
His close family ties seem to have helped inspired his decision.
"As a father and now a proud granddad to three wonderful grandchildren, I know how magical the first year of a child's life is but also how much hard work it takes," Branson also said.
"I'm delighted that we can offer this support to our staff so that they can enjoy parental leave to the full as we continue our work in changing business for good," he continued.
The move comes after the Shared Parental Leave policy was enacted in the United Kingdom in April. The policy allows both parents to share a block of leave, either taking it in turns or shared together.
Now, for all of you pregnant working moms who are thinking about quitting your jobs and sending your résumé over to Virgin stat, the benefit is based on how long you've worked at the company. New parents who have worked at Virgin for less than two years receive 25 percent of their salary, while those with more than four years of service can take 100 percent.