To support parents taking time off work to care for a newborn child we offer primary carers 18 weeks full pay, plus financial support upon return to work.
Research indicates that women typically retire with significantly less retirement savings than men, with career breaks to raise children as cited as a key reason. We’re doing our part to address that inequity by fully funding superannuation for primary carers on parental leave for up to 52 weeks.
We know that grandparents play a vital role supporting their extended family when a new baby comes along, so we offer additional leave for them to make that important contribution.
Late Career Transition
We offer support to our staff considering a path to retirement by providing career consultants to work with them to consider and map the personal, financial and emotional aspect of this transition. In doing so we support our older workers plot a course that works best for them and for Philips, and which provides them an opportunity to pass on valuable skills and knowledge, leaving a lasting legacy at Philips.