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Netflix, Inc. (NFLX) Refuses Poorer Workers Parental Leave Bonus

Netflix, Inc. (NASDAQ:NFLX)

Netflix, Inc. created ripples with its parental policy announced last week that allow the employees to take unlimited paid leave for a year after the birth or adoption of a child. People, in general, liked the policy as it is in favor of the working parents with kids, but there were some who raised questions over the decision.

Netflix inc (NFLX)

Netflix policy do not cover all

Many questions arose on the Netflix  policy. some said that it might restrict employees from taking unlimited leave, and it will not be effective as a defined time-off.

One of criticisms was thst workers may not avail the full leave as they might feel the firm could think of them slackers, who are taking undue advantage of the policy.

Another major criticism is regarding the people who are left out as the said policy covers only to the ‘salaried streaming employees.’ Those who work at the DVD Distribution centers of the firm are not covered under this policy, says a report from NPR, who believe almost 400 to 500 Netflix employees will be left out.

Following the criticism, one Netflix fan started an online petition, asking the firm to cover all employees under the policy. “It’s wrong for Netflix to create two classes of employees,” the fan wrote, in a blog post. “There’s a divide between higher income earners (especially in the tech industry) and low wage workers in terms of access to important benefits like parental leave,” they wrote. As of now, there has been no comment from Netflix over the petition and the criticism.

Microsoft, Adobe announce similar policies

Despite the snags, Netflix    policy is surely attractive, and that is why Microsoft too came up a new parental leave policy just days after Netflix revealed its policy. From November, the workers at the tech firm will be able to take 12-week long fully paid leave after having a child. In a blog post, last week, the tech firm noted that the changed rule  supports the firm’s practice of enhancing work culture for employees.

Apart from Netflix and Microsoft, Adobe Systems also changed its parental leave rules, and the changes were announced by it on Monday. In Adobe’s new policy, after the birth or adoption of a child, the primary carer will be able to take paid leave of 16-weeks.

The firm already has paid medical leave of 10-weeks after childbirth, and with the change in policy, it has now gone up to 26-weeks. Non-primary carers can avail paid leave of 4-weeks. That’s double what it used to be.

In pre-market trading today, Netflix shares were down over 1% at $121.70, and year to date, the stock is up over 150%.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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