Lululemon launches new paid parental leave policy
The gender-neutral policy, announced on Friday, applies to all full-time employees who become parents, including those who adopt.
Employees qualify for three months of fully paid leave after working for Lululemon for two years, and six months of fully paid leave after working for the company for five years. Employees need to work 24 hours a week to be considered full-time at Lululemon, according to Bloomberg.
The company has described the policy as an incentive to retail talent at all levels, from in-store staff to senior leadership. In addition to the financial benefits, the new policy entails a framework to keep new parents connected to colleagues, mentors and work resources during their leave, ensuring an easy transition back into the workplace with a clear trajectory for advancement.
Lululemon plans to measure the impact of the new policy each year to capture leave rates across employees and measure their career growth rates as a result.
In a statement provided to IR, Lululemon said its new parental leave policy is part of a broader effort to achieve equality and inclusivity for all employees.
“Last year, Lululemon achieved pay equity across the organisation, and [last] week, Lululemon [announced] internally a new parenthood policy, which [is] a gender-neutral program that supports all Lululemon employees, at every stage in their careers across maternity, paternity and adoption leave,” the company said.
As of 29 July 2018, the company operated 415 total stores, including more than 30 in Australia and New Zealand, a wholesale channel including premium yoga studios, health clubs and fitness centers, as well an an online presence.