Global investment bank Goldman Sachs has announced a number of enhancements to its benefits and wellness programmes including stipends for egg retrieval and egg donation available to all of its 36,000 employees.
The organisation has been supporting employees for over ten years by reimbursing costs of adoption and surrogacy up to the value of $5,000 (£3,880), have made further enhancements after employees shared their views in the organisation's People Survey in 2017 and more extensive benefits-focused survey in early 2019.The changes, which will come into effect on 1 November 2019, will also see employees entitled to paid parental leave regardless of whether they have become new parents through birth, surrogacy or adoption, regardless of gender or caregiver status.
The global parenting leave policy, will entitle employees an additional four weeks leave, taking the currently 16 weeks leave to 20 weeks in the US, Asia Pacific and a number of other worldwide locations, except in locations where the statutory requirements are higher.
Goldman Sachs are also introducing a new programme called Pathways to Parenthood which increases existing stipends for adoption and surrogacy and for the first time, includes stipends for egg retrieval and egg donation, where permitted by law.
Additionally, a new global policy sees employees entitled to four weeks paid leave to care for family members who are suffering from a serious health condition, military deployment or foster placement.
David M. Solomon, Chairman & CEO at Goldman Sachs, said: "I do think a lot of people will take advantage of the benefits. And I think people should take advantage of the benefits. But at the end of the day, it's a personal choice. It's different for different people.
“Certainly, the top leadership of this firm is encouraging people to take advantage of the support that we're offering around the life event of having a child. I think we do have that kind of culture.
"If someone were talking to me personally [about whether they should take the leave], I would say to them, 'It's such a special time in your life, go take advantage of it and do what you can to support your family. We're offering this benefit because we think it's something that will benefit you both in the short run and in the long run.'".
