Figures published today by insurer Zurich show that the majority of its employees who are new dads, are taking up its new enhanced paternity package which was launched last year. 70% are taking the full 16-week paid paternity leave entitlement whilst 78% take three months or more.
This follows external research published by the insurer which shows two fifths of new fathers don’t take the amount of paternity leave that they feel they need to bond with their new children. For those not taking any time off, almost half (45%) said it was because they couldn’t afford to take a drop in their salaries as they would only receive the statutory amount of £151.20.
Prior to Zurich’s family friendly policy launch, the only option for fathers who wanted to take additional leave beyond the statutory paternity period was Shared Parental Leave. Nationally, take up of the scheme is estimated to be as low as 1% a year with many citing financial constraints as the reason they don’t use it.
Zurich’s research also showed that more than one in four fathers put their careers on the backburner when starting or growing their family, as juggling the demands of parenthood as well as career progression was just too challenging. However, when looking at the spread of people across its UK business who have taken time out to be with their new families, nearly one in five (19%) are in senior roles. In fact, 67% of this group took the full 16 weeks paid leave.
Zurich is also calling for the Government to make the publishing of family related leave and pay mandatory. Being transparent about parental leave, pay, and benefits from the outset is increasingly critical to attracting and retaining the right talent to thrive and compete by demonstrating that employees can progress their careers as well as having a family.
Commenting on Zurich’s family leave take-up, Steve Collinson, Zurich’s Head of HR said:
“The reaction we’ve had from parents about our gender-neutral family leave policy has been overwhelmingly positive, with the majority of parents telling us of their intention to take the full 16 weeks leave. This forms part of a broader approach to family friendly working and flexibility for parents and carers.
“It’s 2020, family life has moved on, and our approach as employers must too. “By enhancing statutory provision for all parents, we are supporting them in playing a more active role in family life. To allow more families to benefit, we would urge Government to enhance the statutory pay for fathers and second parents, which in turn will shift the dial and encourage more employers to follow suit.”
Jane van Zyl, Chief Executive of work-life balance charity Working Families—of which Zurich is an employer member—said:
“We are delighted to hear that the take-up of Zurich’s generous leave entitlement for new fathers has been so high. There is clear evidence that the longer fathers take leave during their child’s first year, the more involved they are in their child’s life on an ongoing basis. By offering 16 weeks of paternity leave at full pay, Zurich is enabling more fathers to share care—a huge step toward better gender equality in the workplace. We encourage other organisations to follow Zurich’s example.”
Zurich launched its new ‘family friendly’ policies for its 4,500 UK employees last September. This includes: up to 16 weeks full-pay for all parents; support for families whose children are born prematurely with additional paid leave for the premature period; paid leave to support through the IVF process; paid leave to support people with miscarriage; a refreshed policy for those with caring responsibilities; and a new bereavement and compassionate leave policy.