Coty, one of the world’s largest beauty conglomerates has announced a new gender-neutral parental leave policy for employees.
Founded in 1904, Coty is the parent company of popular brands including Kylie Cosmetics, Max Factor, Rimmel and OPI.
The change in policy will take effect from 1 November, and give all employees, regardless of gender, the same number of fully paid weeks of parental leave when expanding or starting a family.
This will apply to pregnancy, adoption and surrogacy. Coty did not disclose how many weeks off employees will receive.
Anne Jaeckin, Coty’s chief HR officer, commented: “In line with our new corporate purpose, vision, and values, we are dedicated to fostering an inclusive workplace for our people – and tackling outdated gender stereotypes.
“We hope that this new policy will make a meaningful difference for new parents and support them in this very important chapter of their lives.”
The brand said it hopes this change in policy will promote “gender equality in pay” and level the playing field for men and women.
Recent studies have highlighted the effects of parental leave when it is only given to women. One study, published in the Journal of Applied Psychology in 2018, found a link between women taking long periods of maternity leave and negative career outcomes.
Separately, a 2010 study found that a woman’s earnings will rise by almost seven per cent for every month of paternity leave her husband takes.
The Women’s Equality Party has called on businesses to introduce greater equality in parental leave.
The group highlighted that caring responsibilities – primarily taken on by women – are one of the biggest causes of the gender pay back.
“By demanding a better approach to parental leave, we can reduce the pressure on women as primary caregivers and give men the freedom to take a bigger role in their children’s lives,” the party said.
“This will take us one step closer to ending the gender pay gap.”
