In the wake of Gallagher’s latest Benefits Strategy & Benchmarking Report, UK businesses are making significant strides in supporting working parents.
With 81 percent of organisations implementing well-being strategies for working parents—a substantial increase from 15% the previous year—there’s a clear recognition of the need for workplace evolution.
Amidst the rising cost of childcare, which has seen many British parents reducing their work hours or exiting the workforce, contributing to the 9 million UK adults of working age who are unemployed or not actively seeking employment, the report’s findings are more pertinent than ever. Notably, 97% of organisations now offer flexible working policies, a response undoubtedly reflective of parental needs for balancing child-rearing responsibilities.
The report examines critical trends in employee benefits and engagement, shedding light on the growing importance of work culture and environment in organisational health. Gallagher’s report provides actionable insights as businesses face challenges in aligning business strategy with effective internal communications. This is instrumental in engaging employees—improving loyalty and productivity—which in turn benefits the organisation’s bottom line.
Key statistics from the report include:
- A significant increase in organisations offering enhanced parental leave pay (88%) and extended parental leave (40%, a 10% increase from 2022).
- 22 percent of organisations now provide tools and benefits to support new mothers, recognising the crucial early stages of motherhood.
However, despite these positive developments, more can be done. Businesses are encouraged to improve support by further enhancing parental leave policies, promoting Shared Parental Leave (SPL), accommodating customised working schedules, fostering internal communities for parents, and broadening the scope of who is considered a “working parent.”
For HR professionals, this report offers a blueprint for retaining and attracting talent in a commercial landscape where employees increasingly seek meaningful work-life integration.
Where to learn more:
For a more in-depth understanding of the Benefits Strategy & Benchmarking Report and how it can inform and enhance your organisational strategies, HR professionals are invited to contact Gallagher directly or visit https://www.ajg.com/uk/financial-wellbeing-2023/.