Staff at over-50s specialist Saga will be able to take a paid week off work to mark the arrival of a grandchild.
The group, which employs 2,500 staff, provides both travel and insurance services. It has a holidays division and a two-ship ocean cruise line.
Jane Storm, chief people officer, said: “We recognise that people are working longer in their lives and as an age-friendly employer we want to find more ways to offer the flexibility they need to be there at this special time.
“It’s equally an important statement about how we value age and experience in the workplace and society.
“We know that when our more experienced and younger colleagues come together, they make higher performing teams and value learning from each other.”
She also said the company is offering places to “Saga grandchildren” at its on-site nursery in the group’s headquarters in Folkestone, Kent.
Furthermore, it is supporting staff with “more flexible contracts, talking more about age at work and becoming a menopause-friendly employer”, she added.
Newspapers dubbed the policy “graternity leave” and said Saga is the first major company in Britain to formally recognise the role of grandparents in its employment policies.
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