Bed Bath & Beyond is expanding the benefits it offers employees amid a labor crunch that is hitting retail and restaurant chains particularly hard.
The home goods retailer is also the latest retail chain to announce that it will close its U.S. doors on Nov. 25 for Thanksgiving Day. The company will close its stores in Canada on Oct. 11 in honor of the Canadian Thanksgiving holiday.
Bed Bath & Beyond’s new benefits include a paid parental leave program that will provide for 100% of pay for up to eight weeks after the birth, adoption or fostering of a new child.
In addition, the company is converting its employee-paid voluntary short-term disability program to a company-paid program, providing for 100% of pay for up to eight weeks and 60% of pay thereafter up to 26 weeks. The parental leave and disability programs are both open to all U.S. benefits-eligible full-time employees.
Bed Bath & Beyond also is creating fund to support employees through various hardships. All associates, full-time and part-time, will be eligible to request grants through this fund. The company will fund the program with an initial company investment and, in honor of its 50th anniversary, is also committing to a company match of 50% of all employee donations up to $500,000 through the remainder of the fiscal year.
"Our purpose is to make it easy to feel at home, and that begins right here with our associates and making investments that elevate our people-powered culture," said Lynda Markoe, executive VP and chief People and culture officer at Bed Bath & Beyond. "We're thrilled to implement these new company-paid programs to support the well-being of our Associates and their loved ones. As we look ahead to Thanksgiving and a return to a 'new-normal,' we want our associates to be home, happier and be able to welcome friends and family into their homes."