Virgin Money is launching an increased flexible working package for its staff after publishing research on the importance of better parental leave.
A survey of 1,500 working parents and 500 expectant parents suggested that one in seven have already left a job due to poor parental leave.
Half of parents said they feared losing their job while on maternity or paternity leave, while one in seven (14%) have already left a job due to being unsatisfied with the parental leave and almost a third (29%) of working parents feel maternity and paternity leave in the UK is generally outdated.
Read more: go here for more finance news
Other benefits workers expect their company to offer include 30 days annual leave (55%), wellbeing days (39%), private medical insurance (31%) and the opportunity to work remotely abroad each year (28%)
Virgin Money - which has major offices in Newcastle, Leeds and Glasgow - said its new package, available to all new and existing staff from day one of their employment, has been designed to reflect the post-pandemic world of work.
Staff have the freedom to work where and when they want, with no fixed expectations of time or days in the office.
Benefits will also include 30 days’ annual leave, plus five additional wellbeing days each year. Mothers, fathers and those looking to adopt can take up to 20 weeks fully paid leave and 52 weeks leave overall.
David Duffy, chief executive of Virgin Money, said: “The pandemic has permanently changed our approach to working life. It’s clear to us that by taking a purpose-driven approach to how we work, we can help colleagues achieve a work-life balance that brings out their best.
“We have listened to how colleagues want to work and what benefits are most important, and as a result we’re bringing in a compelling package for all colleagues that reflects the world we live in today.
“This includes equal parental leave, generous holidays with additional wellbeing days, and flexibility on where people work.”
Virgin Money said that "at a time when many UK businesses are finding it hard to recruit and retain talent, offering a comprehensive and market leading employee benefits package is vital".
