Paid grandparent leave – the new way forwards?
Saga, the insurance firm and cruise operator for the over 50s, has recently become the first UK employer to offer leave to its employees to celebrate the birth of a grandchild. This will involve one week’s paid time off plus access to an onsite nursery.
The decision was taken following consultation with its workforce and in recognition of research suggesting that grandparents play an essential role in their grandchildren’s wellbeing.
"Earlier this year, a survey by Virgin Money revealed that 60% of employees would likely leave their current jobs in exchange for better parental leave policies."
Therefore, will the introduction of such a revolutionary policy have any impact on Saga’s staff retention or recruitment? Too early to say. However, one may find it difficult to imagine how a policy meant to encourage a healthier work-life balance and recognise the fact that employees have relationships and responsibilities outside of work, could have anything but a beneficial impact on staff loyalty and wellbeing.
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