Leading business and financial adviser Grant Thornton UK LLP is delighted to announce it has been awarded the Working Families - Allen & Overy innovation award for its flexible approach to family pay, beating stiff competition in the most hotly contested category.
Following feedback from employees that there were financial barriers to taking longer periods of leave, and in recognition that every family is different, the firm adjusted its policies to reflect this and made two significant changes:
- The introduction of flexible family allowance – in replacement of a return-to-work bonus, employees were provided with a percentage of their salary that they can use to top up their statutory pay while on leave, and when they need it most.
- Shared parental leave enhanced for fathers and mothers - Mothers and primary adopters are able to transfer some of their allowance into shared parental leave. And in addition, fathers/partners are entitled to four weeks fully paid shared parental leave, on top of their two weeks ordinary parental leave.
Commenting on the award, Robert Hannah, partner and board member for operations, Grant Thornton UK LLP said:
“Our people are our most valuable asset and central to our firm’s culture and approach is the need to ensure that our employment practices are as accommodating and supportive of their needs as possible.
“Nowhere is this more important than how we approach their needs in relation to their families. Through direct consultation with the people affected by our policies, we have created a framework that is flexible enough to accommodate the challenges faced, and also differentiates us in the market. We’re delighted that our efforts have been recognised, and also that the introduction of the new Family Leave Allowance has increased the ability of people to take longer periods of leave to be with their families, with 13% more taking between 9 to 12 months.”
Commenting on the reason for the award Working Families chief executive Sarah Jackson said:
“The panel was impressed by the way Grant Thornton has pioneered a flexible approach to family leave. Their policies recognise that every family is different and individuals are best placed to choose how they tailor their pay to meet their needs. Congratulations.”
Working Families is the UK’s work life balance charity. They support and advocate on behalf of working parents and carers, and work with employers to create workplaces which encourage work-life balance for everyone. www.workingfamilies.org.uk