Prysmian Group launches its new Parental Policy

Prysmian Group has always focused closely on the Diversity, Equity and Inclusion of its employees, with the goal of providing them with the best conditions and tools for optimal management of their work-life balance. It is in keeping with this approach that Prysmian Group recognises the incredible value of parenthood by supporting parents in this new phase of their lives. As part of these efforts, the Group has recently adopted a new Parental Policy, consisting of concrete measures to support new parents and ensure that they enjoy optimal wellbeing at the beginning of this next chapter of their lives.

What are the main features of the new Parental Policy? We discussed this with Fabrizio Rutschmann, Chief HR Officer at Prysmian Group.

Why did you feel a need for a new Parental Policy?

For two main reasons. First of all, because at Prysmian Group we attach great importance to work-life balance, viewed as fundamental to people and their wellbeing. As a result, it is important to continue to ramp up efforts in areas such as equity and inclusion. In terms of work-life balance, parenthood is a fundamental aspect: supporting new parents is a concrete way to make this balance a reality. The goal is thus to ensure that Prysmian Group people do not view parenthood as something that penalises them, but rather as an opportunity that the Company fully supports.

Secondly, since Prysmian Group is a global company and deals with various jurisdictions, with this new Policy it sets a minimum global standard, thus raising the bar on these issues in all countries where it operates, in order to ensure that all those who work at Prysmian Group enjoy better opportunities and minimum benefits, regardless of the legislation to which they are subject.

What are the new features of the new Parental Policy?

• There are four main new features of the new Parental Policy:
• The minimum global parental leave for Prysmian Group mothers/primary caregivers has been raised from 12 to 16 weeks at full salary;
• A minimum global standard has been introduced for fathers/secondary caregivers who can benefit from two weeks of paid leave at full salary;
• A new child benefit is added as a family support measure that in most countries will take the name "baby bonus" and is granted to new parents (whether biological or adoptive, members of a couple or single parents) for each child and is disbursed in tranches. This bonus, the amount of which is proportionate to the average income in the country of reference, is currently optional, but will enter into force on a mandatory basis in all countries effective 1 January 2024;
• The “Leave and Back to Work Programme”— a full-circle support programme for mothers/primary caregivers that begins as they approach parental leave and extends into their first few months back at work — has been reinforced. One of the key characteristics of this programme is the “Stay in Contact” plan, agreed upon by new mothers/primary caregivers and their managers before the leave period begins. Upon returning from leave, countries can activate several programmes, including training, coaching or counselling. The new Policy also emphasises the importance of regular touch points between new mothers/primary caregivers, the HR Department and managers, so as to ensure ongoing feedback and a transition as smooth as possible. These golden rules — adapted to the country of reference — include a guarantee that, upon returning to work, new mothers/primary caregivers have the same opportunities as everyone else, feel included and ready to re-join their colleagues at work, and are not penalised for their parental leave.

How do you think that this new Parental Policy might have positive effects on the Company and on society?

At the company level, it is our hope that this new Policy will have positive effects on our people's perception of their employer, ensuring that they wish to remain at — or join, of course — Prysmian Group.

Certainly, more broadly speaking, a parental policy of this kind may also have beneficial effects on the choice to welcome a new child, a choice that can sometimes be more difficult in certain economies in the world. We therefore hope that, within the limited context of the Prysmian community, the parenthood measures introduced will offer some relief to those who welcome a new addition to their family.

Do you believe that this new Policy is to be considered cutting-edge?

Whether the Policy as a whole is to be considered cutting-edge depends, of course, on the market and country concerned: certainly, it is so at the level of the global company, as some legislations are less sensitive to these matters. This Policy is certainly to be regarded as a starting point, pushing the envelope, but there are also countries where the company culture and legislation are much more advanced in this area.