One of the major home improvement big-box retailers is about to give its employees a treat. Yep, Lowe’s parental leave policies are changing. The company recently announced a plan to enhance benefits for their employees, including new bonuses, an expansion to maternal and parental leave policies and added adoption assistance.
photo credit: Lowe’s
Lowe’s chairman, president and CEO, Robert A. Niblock, said, “We are investing in our employees who make a difference every day in the communities where we live and work.” He went on to add, “Our employees are the foundation of our business, and we are excited to enhance our benefits to better meet their needs and the needs of their families.”
So what are these new enhanced benefits exactly? In the announcement, Lowe released their plan to give a one-time cash bonus to all eligible full- and part-time hourly employees. This includes employees who work in Lowe’s retail stores as well as their customer support centers, distribution centers and contact centers.
Along with a cash bonus, eligible employees (both hourly and salaried) can now get 10 weeks of paid maternity leaves and two weeks of paid parental leave. Employees who are adopting can get an adoption assistance benefit that will cover up to $5,000 of their eligible expenses. The “eligible expenses” include agency fees, legal fees or additional fees that also relate to the adoption.
Oh, but these aren’t the only changes that Lowe’s is making. The company will also provide eligible employees with the chance to enroll in health benefits earlier on (the first of the month, following a 30-day service period).
What do you think about the changes that Lowe’s is making? Share your thoughts in the comments below. —Erica Loop