The Policy Puts the Maine-Based Company at the Forefront of US Employers
Supporting Family-Focused Benefits
SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Sep. 27, 2016--
WEX
Inc. (NYSE: WEX), a leading global provider of industry-leading
corporate payments solutions, today announced it will offer full-time
U.S. employees up to six weeks of fully paid parental leave. This
benefit will be in addition to the company’s existing maternity leave
allowance, which provides six to eight weeks of leave as short-term
disability.
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WEX’s paid parental leave policy went into effect on September 1, 2016
and is open to all new parents — whether through birth or adoption. The
policy, which is retroactive to January 1 of this year, advances WEX’s
position as a leading provider of family leave benefits.
According to published research from Working Mother and the Society for
Human Resource Management, only 21 percent of American companies offer
paid maternity leave, 17 percent include paid adoption leave and 17
percent offer paid paternity leave.
“At WEX, we recognize that our success is dependent on the success of
our employees, and, as a result, we view paid parental leave as an
integral part of our ongoing commitment to support employee health and
wellbeing,” said Jenifer Rinehart, WEX’s SVP of human resources.
“Expanding our parental leave program allows us to continue to excel in
the industry, while offering employees support and flexibility through
this incredibly pivotal time.”
Studies indicate that paid parental leave offers greater benefits for
parents, children and companies than those that can be achieved through
maternity leave alone. U.S. Department of Labor studies show that the
increased engagement children receive as a result of parental leave can
lead to a reduction in behavioral problems, increased cognitive and
mental health outcomes, and higher test scores.
Rinehart added, “We consider ourselves lucky that some of our industry’s
most driven, innovative and talented professionals work at WEX. We hope
today’s announcement communicates to other forward-thinking,
problem-solving professionals that WEX offers a future of extraordinary
opportunity and the tools you need to succeed.”
About WEX Inc.
WEX
Inc. (NYSE: WEX) is a leading provider of corporate payment
solutions. From its roots in fleet card payments beginning in 1983, WEX
has expanded the scope of its business into a multi-channel provider of
corporate payment solutions representing approximately 10 million
vehicles and offering exceptional payment security and control across a
wide spectrum of business sectors. WEX serves a global set of customers
and partners through its operations around the world, with offices in
the United States, Australia, New Zealand, Brazil, the United Kingdom,
Italy, France, Germany, Norway, and Singapore. WEX and its subsidiaries
employ more than 2,500 associates. The Company has been publicly traded
since 2005, and is listed on the New York Stock Exchange under the
ticker symbol “WEX.” For more information, visit www.wexinc.com
and follow WEX on Twitter at @WEXIncNews.
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Source: WEX Inc.
WEX Inc.
Rob Gould, 207-523-7429
Robert.Gould@wexinc.com