Expectant parents who work at Netflix have a new reason to celebrate thanks to an announcement made today by the company offering unlimited maternity and paternity leave to parents for the first year after their child's birth or adoption.

"Netflix's continued success hinges on us competing for and keeping the most talented individuals in their field," Tawni Cranz, the company's chief talent officer, wrote in the blog post. "Experience shows people perform better at work when they're not worrying about home."

Netflix allows users to stream or borrow an unlimited number of movies for a monthly fee. The company already has an "unlimited leave" policy for all employees, which means that as long as the work gets done, staff are free to take as many paid vacation days as they want each year.

Now, with the new parental leave policy, parents can not only take unlimited leave, they can also switch to part-time or come back to work and take time off again after a few weeks or months. The best part about the new leave policy? The company announced that it will continue paying employees "normally," eliminating the need for new parents to make the switch to disability leave.

High marks to Netflix for taking such a proactive stance for families. Even by the lavish standards of Silicon Valley, where 16-18 weeks of paid parental leave is considered the norm, Netflix's policy is impressive. It's available company-wide to all of Netflix's 2,000 full-time employees, meaning it will be enjoyed by everyone from customer service representatives to software engineers.

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Netflix announces unlimited leave for new parents
The new parental leave policy is generous - even by lavish Silicon Valley standards.