Hasbro Expands Adoption and Foster Care Benefits
Enhanced Policy Complements Expanded Paid Family Leave Benefits Announced in 2016
PAWTUCKET, R.I. -- Hasbro, Inc. (NASDAQ: HAS), a global play and entertainment company, today announced changes to the company's U.S. Adoption and Foster Care Assistance Program, increasing financial assistance benefits for both adoptive and foster parents.
Under the expanded policy, U.S. Hasbro employees are now eligible for reimbursement of up to $15,000 of eligible adoption-related expenses per child, compared with up to $6,000 under the previous policy. Foster parents now receive $1,500 to help offset the cost of bringing a foster child into the home, compared with $1,000 previously.
This enhanced policy complements Hasbro’s 2016 announcement of expanded paid family leave, which granted both birth and non-birth parents more paid time off after birth or adoption. New parents, including fathers, same-sex partners and adoptive parents can take up to 10 weeks of paid time off to care for and bond with their newborn or adoptive child. Birth mothers also receive 6-8 weeks of Short-Term Disability, giving them a total of 16-18 weeks of paid time off.
“Families are the cornerstone of both our company and our business, so we want to make sure that our employees who bring a child into their home have the financial support and time off they need to bond and enjoy that special time as family,” said Dolph Johnson, executive vice president and chief Human Resources officer, Hasbro, Inc. “We want to be an employer of choice for parents, and progressive policies like this help to cement our position as a family-friendly workplace.”
For the past 10 years, Hasbro has been named among the 100 Best Adoption-Friendly Workplaces in the U.S., according to the Dave Thomas Foundation, which honors companies that have laudable policies to support the process of adoption for employees. Hasbro’s expanded paid family leave benefits helped the company earn “Best Leave” recognition in 2016.
As part of Hasbro’s purpose to make the world a better place for children and their families, the Company has also been supporting philanthropic programs focused on helping children in adoptive and foster care for more than three decades.
Hasbro has been a long-time supporter of children looking for their forever families by supporting a global philanthropic partnership with SOS Children’s Villages, as well as local organizations, such as Adoption Rhode Island. In addition to providing grants to support their work, Hasbro employees put on a holiday party for all the children available for adoption through Adoption Rhode Island. For more information about all of Hasbro’s adoption and foster care-related philanthropic activities, please visit www.Hasbro.org.
Hasbro (NASDAQ: HAS) is a global play and entertainment company committed to Creating the World's Best Play Experiences. From toys and games to television, movies, digital gaming and consumer products, Hasbro offers a variety of ways for audiences to experience its iconic brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH, MONOPOLY, LITTLEST PET SHOP and MAGIC: THE GATHERING, as well as premier partner brands. The Company's Hasbro Studios and its film label, Allspark Pictures, are building its brands globally through great storytelling and content on all screens. Through its commitment to corporate social responsibility and philanthropy, Hasbro is helping to make the world a better place for children and their families. Hasbro ranked No. 1 on the 2017 100 Best Corporate Citizens list by CR Magazine, and has been named one of the World’s Most Ethical Companies® by Ethisphere Institute for the past six years. Learn more at www.hasbro.com, and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
© 2017 Hasbro, Inc. All Rights Reserved.
Julie Duffy, 401-727-5931