The new policy is applicable for both male and female employees
Broker PIB Group has enhanced its parental leave policy ahead of publishing its latest round of gender pay gap figures – the firm will now offer both male and female employees 12 weeks of parental leave at full pay.
Under the new policy, female staff will receive their full pay for the first 12 weeks of their maternity leave before progressing onto the statutory rate. Male employees will also be able to take 12 weeks of fully paid paternity leave, with the option to add up to 40 weeks of extra unpaid leave.
To date, seven men employed at PIB Group have opted to take the full 12 weeks of paternity leave – three of these have also chosen to add on further unpaid leave to spend more time with their new family member.
The revised parental policy will feature in the broker’s upcoming gender pay gap report, which will be published this April in line with statutory requirements.
The parental leave policy has been designed to aid recruitment and retention, adhering to PIB Group’s ambition to become an employer of choice in the industry.
Fiona Andrews, chief people office for PIB Group, said: “We want to support our people on their exciting and special journey to parenthood.
“Our enhanced parental leave policy is one of several initiatives introduced or being developed that demonstrate our commitment to becoming a truly diverse, inclusive and equal opportunity employer.
“Our landscape is constantly changing. People want more flexibility in the way they work, competitors are developing new initiatives to appeal to employees and we know that to be a successful group we must attract and retain top talent. We also have to keep pace with legislative and culture changes.
“We are making some positive steps forward to help us address these challenges head-on and while there are no quick fixes, we are committed to seeing a steady improvement year on year as our organisation matures.”
In its 2018 gender pay gap report, PIB Group recorded a mean gender pay gap of 42.5% in terms of hourly pay – this equates to a median gender pay gap of 33.1%.
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