Global beauty firm Coty is to extend its global parental leave policy which will allow all employees to take a minimum of 14 weeks, fully paid, regardless of gender.
Coty’s gender-neutral parental leave policy was first established in 2022 and offered all employees access to the same number of fully-paid weeks of parental leave when starting or extending a family, whether through pregnancy, adoption, or surrogacy.
Coty plans to phase in the parental leave standard so that all countries will offer the new global minimum by the end of Coty’s fiscal year 2024, guided by local regulations.
The policy was announced in Coty’s 2023 Sustainability Report, which details the organisation’s sustainability framework and efforts to set new benchmarks across three pillars of product, planet and people.
Coty believes its parental leave policy champions gender equality in pay and workplace advancement worldwide.
Sue Nabi, chief executive officer (CEO) at Coty, said: “Aligned with our broader sustainability goals across product, planet, and people, our expanded gender-neutral parental leave policy underscores our holistic approach to sustainability for long-term success. It is a point of pride for all of us at Coty.”