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Remember when companies thought they could get away by offering a basic health plan and call it a day when it came to employeebenefits. How can companies move beyond standard health insurance and create a benefits package that truly stands out? But in a talent market where employees hold power, companies can’t stop here.
International Foundation of Employee Benefit Plans
JULY 11, 2023
workers do not have a guaranteed source of pay to cover leave following the birth of a child or to bond with a new addition to the family. Lack of access to paidparentalleave can create a financial hardship […] The post Getting Paid During ParentalLeave appeared first on Word on Benefits.
Private wealth and real estate law firm Boodle Hatfield has introduced an equal parentalleave policy for its 180 employees and 39 partners. It implemented the policy following a review of the benefits offered to employees and partners.
Credit: Dariusz Gryczka / Shutterstock.com Financial services firm Moody’s has launched a global parentalleave policy for its more than 15,000 employees worldwide. According to the employer, it has implemented the policy following input from employees.
Banking organisation Deutsche Bank has enhanced its parentalleavebenefits for employees across the Asia Pacific region. Employees are now eligible for up to 26 weeks of paidleave for primary caregivers of a newborn or newly adopted child, which is an increase from the previous 16 weeks.
Law firm Lewis Silkin has enhanced its parentalleave policy in order to offer equitable support for new parents. A total of six months of this will be fully paid. A total of six months of this will be fully paid. The post Lewis Silkin enhances parentalleave appeared first on EmployeeBenefits.
Credit: JHVEPhoto / Shutterstock.com Global law firm Clyde and Co has enhanced its paidparentalleave as of this month for all employees and partners with at least 12 months of service. Employees were made eligible immediately, with retrospective eligibility for those already on or recently returned from parentalleave.
Global architecture firm Hassell has enhanced its parentalleavebenefits in order to pave the way for a more balanced and inclusive workforce. Effective now, the comprehensive parentalleave policy offers 16 weeks of paidleave to all parents, irrespective of their role as primary or secondary carers.
Accounting firm Deloitte UK is to equalise parentalleave , in order to give fathers the same paternity pay as it does maternity pay for mothers. The policy of 26 weeks of fully- paid family leave for all new parents will come into effect on 1 January 2025 and will be a day-one right.
Elon Musk, the CEO of Twitter, has recently made a controversial decision to slash the company’s paidparentalleave policy. The move, which reduces the policy from 20 weeks to just 14 days, has received backlash from employees and the general public.
Credit: Marlon Trottmann / Shutterstock.com Thomson Reuters has enhanced its global paidparentalleave policy , offering all employees a minimum of 16 weeks of paidleave, regardless of gender identity, sexual orientation, marital status or family role.
Credit: rafapress / Shutterstock.com Global insurance firm QBE North America has enhanced its paidparentalleave programme to a minimum of 12 weeks for all parents whether they adopt, give birth, foster or use a surrogate.
Citi’s parentalleave policy has restarted the discussion around parentalleave within the workplace, establishing the standards for the kind of accommodations employees can expect. The updated Citigroup employeebenefits go into effect immediately for workers in the U.S.
Credit: DELBO ANDREA / Shutterstock.com Cables, energy and telecoms firm Prysmian Group has enhanced its minimum global parentalleave and reinforced a full-circle support programme for primary caregivers. Meanwhile, the group has recommunicated its Leave and Back-to-Work Programme to staff.
Parents need time off to care for and bond with their latest addition. However, limited parentalleave options in the United States often hinder them. Currently, only 27% of American workers employed in the private sector have access to paid family leave. PaidParentalLeave is what?
Credit: Victor Moussa / Shutterstock.com London Stock Exchange Group is to increase its parentalleave to support employees at key life moments and as part of its equity, diversity and inclusion commitment. If local laws in countries or regions offer additional paidleave beyond 26 weeks, this will be honoured.
WeightWatchers has introduced six months of paidparentalleave for eligible full and part-time employees in the US. She introduced the policy so as to address the fact that paidparentalleave is not federally guaranteed in the US, and it is up to individual states and employers to offer this.
Australian employer National Roads and Motorists’ Association (NRMA) Group has agreed to pay superannuation on the unpaid portion of parentalleave as part of its aim to close the gender pay gap for females. The post NRMA Group to continue pension contributions during unpaid parentalleave appeared first on EmployeeBenefits.
Global strategy consulting firm OC&C Strategy Consultants has launched a fully equalised paidparentalleave policy in a move towards gender equality for all of its employees. The policy promotes shared care through equalising paidleave and flexibility for how that leave is taken.
As we step into 2024, the landscape of employeebenefits and perks is continuously evolving. These programs go beyond the traditional healthcare and retirement plans, incorporating elements that cater to employees’ holistic well-being. What are Employee Perks?
Australian digital and creative marketing agency WiredCo has extended its parentalleave policies to include pet owners, IVF and miscarriages. The agency has introduced five days of paidleave for employees undergoing IVF treatment and two days of leave for their support person. million pets now living in 6.9
Banking organisation HSBC has extended its parentalleavebenefits for Hong Kong-based staff to foster a family-friendly and inclusive culture. From 1 January 2024, maternity leave for full-time employees will increase from 16 to 20 weeks, while paternity, or secondary caregiver, leave will rise from 10 to 40 days.
Insurance firm IAG New Zealand (NZ) has launched a new parentalleave package to support new parents. The package, which is gender-neutral, includes 14 weeks of paidleave at full pay for the primary caregiver, on top of the current New Zealand government paidleave allowance of 26 weeks.
Parents in the workplace arguably give employers a hard time to manage, mostly new dads. However, some employers are putting more efforts to tackle parentalleave issues squarely – more companies are improving their parentalleave policies for both new moms and new dads. Hewlett Packard Enterprise.
Facilities and property management, catering, and food services firm Sodexo UK and Ireland has enhanced its maternity, adoption and paternity paidleavebenefits for salaried employees, to provide them with time, flexibility and financial support. This could enable more women to come back to work sooner.”
Amazon Middle East and North Africa (MENA) has introduced an enhanced paidparentalleave policy for employees across United Arab Emirates, Saudi Arabia, Egypt and Jordan who have become new parents, regardless of gender.
Freepik’s headquarters are based in Malaga, Spain, and as a result, many of its employees are subject to legislation under Spanish jurisdiction. The law allows both mothers and fathers to take 16 weeks of paidleave after the birth of a baby, offering more flexibility around paternity leave than the UK.
Pay is one way but employeebenefits and reward packages are another major focus. Flexible working, mental health and social value are all in demand but some are questioning the use of more ‘gimmicky’ benefits. That means employers must take benefits a lot more seriously and put together fully-fledged employeebenefits plans.”.
Investment bank and financial services firm Citigroup has enhanced its parentalleave and introduced a new caregiver leave initiative for its employees based in the US and Puerto Rico. The post Citigroup enhances parentalleave for US and Puerto Rico employees appeared first on EmployeeBenefits.
As a starting point, the organisation offers five days’ paidleave to undergo treatment, with ongoing mental and physical health support where appropriate, and flexible working arrangements if needed, which are tailored to an individual’s circumstances and role in agreement with the employee’s line manager.
Fertility benefits enable all employees — regardless of gender, sexual orientation, relationship status or physical health — the opportunity to build a family. . Common fertility benefits, per the International Foundation of EmployeeBenefit Plans (IFEBP), include: Fertility medications. Paidparentalleave (39%).
But once they do, they can truly foster an inclusive culture that allows all employees to thrive. appeared first on EmployeeBenefits. Diageo’s ambition is to attract, develop, and retain the most diverse talent that reflects our consumer base and delivers on our bold ambitions.
The Neonatal Care (Leave and Pay) Act, introduced by Stuart C McDonald MP, will allow eligible employed parents whose newborn baby is admitted to neonatal care to take up to 12 weeks of paidleave, so that they can spend more time with their baby. This is in addition to maternity and paternity leave.
To be eligible for the leave, employees must have worked at least 680 hours over the 12-month period before the leave begins. Employees also must exhaust all voluntarily provided paidleave before taking paidleave under this law.
The post Bank of Ireland offers evolving flexible arrangements for working carers appeared first on EmployeeBenefits. A decision will be made following a consultation. We think it’s a valuable piece of legislation that will encourage colleagues to take ownership of working patterns and ensure their work-life balance works for them.”
Tech companies are often seen as providing top-of-the-line employeebenefits, and the examples here are no exception. If you’re a tech employer or even hiring for tech roles in a different industry, know that your employeebenefits are competing against some big names with big budgets and best-in-class employeebenefits.
The benefits vary, but employees agree they want better health insurance, work flexibility, and more leaves at work. What benefits should you consider when hiring? Plus, know what employeebenefits should you have in place as required by the law. Required BenefitsEmployees Must Receive.
Those adopting a child will receive the same benefits. Co-parents will receive 12 weeks of paid shared parentalleave, which replaces the standard approach of two weeks following a birth or adoption, to reflect co-parenting needs and deliver greater equity across parental roles.
Through its We Care programme, UK employees will be entitled to eight weeks of paid co-parentleave , an increase of four weeks. The initiative will additionally provide five days of paidleave if an employee experiences a miscarriage up to the 24th week of pregnancy and two days of paidleave for spouses and partners.
First, Axa has introduced its caregiver policy to provide employees caring for immediate family, who require eldercare or care due to a serious health condition or disability, with up to five days of fully paidleave.
EXCLUSIVE: Day nursery provider Kids Planet has introduced an enhanced package of benefits, including new parentalleave policies, for 4,595 members staff caring for more than 15,000 children across its 156 UK nurseries. The post EXCLUSIVE: Kids Planet introduces enhanced parentalbenefits appeared first on EmployeeBenefits.
Employees can take this leave at any point within the first two years of the child being born or adopted, and it can be taken in blocks to provide the choice of flexing it in a way that works for them, their families and their teams. It is now a day-one employment entitlement. That is how we support all staff to thrive.”
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