NatWest Bank has announced that from next year all new parents will be entitled to a year off following the birth of a child regardless of their gender. The employees will be entitled to half of that time at full pay.
Although mothers are already entitled to 12 months maternity leave as a matter of law, this is a significant increase on the current legal entitlement of fathers which is just two weeks statutory paternity leave. NatWest are hoping that this will help attract and retain more top talent and help it (and other banks) shake off the ‘pale, male and stale’ image often attributed to the large banks.
The move comes only a month after the bank announced that it would pay for transgender staff to get privately funded hormone treatment.
Offering enhanced family friendly rights is becoming a key battleground in the battle to retain top talent and the NatWest offering goes a lot further than most employers do, particularly in respect of paternity leave.
If you are considering offering enhanced family friendly rights in your business please contact our Employment Team on 0345 646 0406 or fill in our online enquiry form to discuss your options and what might work best for you.