Vodafone Share News (VOD)

Telecoms giant Vodafone has become one of the first companies to adopt a mandatory minimum global maternity policy for its employees, giving women at least 16 weeks of full pay after having a baby.The company said its new policy will support over 1,000 women working for the company every year in countries with little or no statutory maternity care."Women account for 35% of our employees worldwide but only 21% of our international senior leadership team. We believe our new maternity policy will play an important role in helping to bridge that gap," said chief executive Vittorio Colao.Under the new policy, women working at all levels across Vodafone's 30 global operating companies will be offered at least 16 weeks fully paid maternity leave, as well as full pay for a 30-hour week for the first six months on their return to work.Analysis commissioned from KPMG has found that businesses worldwide could save up to $19bn annually through the provision of a similar maternity policy.The cost of having to replace women who do not stay in the workforce after having a child costs companies $47bn each year.