Flexible work for the modern family
Generous
Over half of ABI members offered enhanced shared parental pay in 2018
Inclusive
56% of ABI members work with an organisation to support parents in the workplace
Flexible
Our industry is leading the way with its flexible working policies
The insurance and long-term savings sector is building a modern and diverse industry which reflects our changing society and supports working families. ABI members have been modernising their HR policies to promote a good work-life balance, and our sector became the first ever to take coordinated action to publish its parental leave and pay policies.
Transparency for expectant parents
In September 2019, the insurance and long-term savings industry became the first sector ever to take coordinated action to improve transparency for expectant parents. The ABI and 21 of its members published their parental leave and pay policies in a move to increase transparency and build a better working environment for families - we were the first industry ever to take this action.
Transparency is vital, and in a survey by Mumsnet 83% of respondents said they were reluctant to ask potential employers about maternity and paternity pay as well as leave policies because they feared it would make a job offer less likely. Yet, parental leave and pay policies are absolutely critical to many job applicants: 84% of those surveyed say they are important to them when applying for or considering applying for a job. Our industry was the first to make a meaningful change like this.
Giving you extra time when you need it most
ABI members’ employees and prospective employees can expect transparent and generous parental leave policies when they need them. Aviva is leading the way for inclusive business practices in the UK. In 2017, Aviva introduced equal parental leave policies, which allow expecting parents to take up to 12 months leave, including 26 weeks at full pay. More than 700 parents have benefited globally, and the average number of paternity days taken by men has increased by more than 14 times.
Many ABI members go above and beyond with their parental leave and pay policies - truly recognising that everyone’s circumstances are different. For example, Direct Line Group employees can benefit from 20 weeks of maternity and adoption leave, shared parental leave and flexible working arrangements during IVF treatment.
A flexible and dynamic workplace
In early 2019, ABI member Zurich, who employ nearly 5,000 people across the UK, began advertising all its job vacancies as available part-time or as a job-share, as well as full-time. This commitment has led to a 25% increase in the number of female applicants over three months.
Elsewhere, Admiral, Wales’ largest private-sector employer, is also piloting its innovative ‘Term-Time’ working scheme. The scheme allows staff to decide which weeks they want to work at the start of the year and helps parents juggle work, childcare and spending quality time with their family.