Target Corp. introducing paid family leave, extending backup child care benefits.
The management of one of the leading US retailer companies (the sixth in the list of the largest online retail companies) Target Corporation (up to 2000, Dayton Hudson Corporation) said on Monday that it has beefed up its worker benefits, including the introduction of paid family leave and expanding its backup care benefit. The paid family leave benefit goes into effect June 30 and will give hourly and salaried workers, including part-time employees, the ability to be home with a new child or care for a sick family member. The benefit applies to children born to a Target staff member, or a child that’s been adopted, or joins a family through foster placement or surrogacy. This benefit is on top of the medical leave that workers receive after giving birth. The backup care benefit, which was first introduced at the company’s headquarters, will be expanded to hourly and salaried workers in the fall. The program includes 20 days of childcare at a facility or at home, and eldercare. The retailer is also doubling the reimbursement for adoption and surrogacy fees. The company has offered financial support for adoption and surrogacy for a decade. Target stock has gained 32.2% for the year to date while the S&P 500 index SPX, +0.47% is up 15.4% for the period.
Based on Market Watch