A recent survey by employee benefits provider My Family Care has revealed what maternity pay and benefits UK companies are offering.
The survey found that 25% of 100 respondents only offer their employees Statutory Maternity Pay (SMP). SMP can be paid for up to 39 weeks, at 90% of normal pay for the first six weeks, before dropping to £138.18 per week.
Similarly, 16% offered Statutory Paternity Pay (SPP) at £138.18, with "a high degree of overlap" with the companies offering SMP.
Meanwhile among businesses offering enhanced maternity benefits, the amount paid and duration "varied widely". Respondents are offering employees enhanced maternity pay for anything between 3 and 52 weeks. Some companies also offer bonuses to employees returning to work.
The research also found that companies with over 5,000 employees are the most likely to offer good maternity benefits, with all those surveyed offering enhanced maternity pay.
The importance of maternity pay
Maternity pay and family-friendly benefits are an essential element of an effective compensation, benefits and reward package. For employees who are parents or are planning to become parents, it can be a key consideration when searching for a job – it can therefore aid with attracting and retaining talent.
My Family Care also cited "leaks in their female talent pipeline" being a consideration for businesses.
However, companies will also be aiming to get employees back into work sooner, to minimise the impact on workflow and costs.
Contact Portfolio CBR
Any candidates for employee benefits jobs must therefore have in-depth knowledge of maternity packages and how they might be balanced with the business's objectives. Benchmarking and communicating maternity pay to employees will be a key part of their role.
Portfolio CBR specialise in finding exceptional candidates for reward jobs – if you have a vacancy, call our team on 020 7650 3190.