GOLDEN VALLEY, Minn. — Food giant General Mills is giving its employees more paid time off to care for an aging parent or ill family members and to bond with their newborns and adoptive children.

The Star Tribune reports that the Minnesota-based company unveiled an expanded paid time-off policy on Wednesday.

The updated policy for new parents and family caregivers is designed to keep the company competitive among peers.

New parents will receive 12 weeks of paid time off. New mothers will get an additional six to eight weeks for their physical recovery after giving birth. Caregivers will get two weeks paid time off every year to help immediate family members struggling with serious health conditions. All of the new time off is at full pay.

The policy will go into effect in January.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.