As a result of its strong financial performance in 2017, Unum Group is adding new parental leave benefits, upping its minimum wage to $15 an hour and boosting its charitable contributions by $1 million.
The minimum wage increase will affect about 80 employees in Portland, Unum said Thursday. Unum is based in Chattanooga, Tennessee, but has a major presence in Portland with over 3,000 workers.
“These investments reflect our values and recognize the significant role that everyone at Unum plays in delivering for our customers,” Unum President and CEO Rick McKenney said in a statement. “2017 was a great year, and one that would not be possible without the dedication of all of our people.”
Under the new parental leave policy, eligible employees will have six weeks of paid leave to care for a newborn, or a child placed through adoption or foster care, at any time during the 12 months after birth, adoption or fostering, Unum said.
The disability insurance provider also will boost the compensation of its lowest-paid workers so that all employees earn at least $15 an hour across the U.S. The change will show up in paychecks on March 30, Unum said.
Finally, Unum said it will make an additional $1 million in charitable contributions to support the company’s local communities. In 2017, Unum and its employees gave over $3.7 million to charitable organizations in Maine and over $12.4 million worldwide, the company said.
On Wednesday, Unum reported 2017 revenue of $8.6 billion, up about 3 percent from revenue of $8.36 billion in 2016.
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