When one of the 900 hourly workers at Rent the Runway died, CEO Jennifer Hyman had to reckon with a harsh reality. The dead man's coworkers, a close group that included some of his family members, couldn't take time off to mourn his death or attend the funeral.
If they'd been among the company's 300 salaried employees, it wouldn't have been an issue. Their benefits included bereavement leave, paid parental leave, and time off to care for sick family members, as well as invites to occasional companywide beach or ski days.
It didn't seem fair, and soon after, Hyman decided to equalize benefits across her workforce, making Rent the Runway one of a growing number of companies that are extending benefits to hourly and part-time workers. Almost half of the 391 companies surveyed by the International Foundation of Employee Benefit Plans now offer the same health insurance coverage for all employees. About a third offer paid maternity or parental leave to their part-time workers, too, the survey found.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
