Announcing our New Parental Leave Benefits Scheme for Employees
Capital One UK shows commitment to working families and inclusivity by launching a suite of new family leave benefits. The enhanced policies allow associates to take increased paid time off when it is needed most and were announced to associates as part of an internal campaign during national inclusion week.
The communications highlighted key intent changes as well as dedication to diversity, inclusion and belonging values and included a podcast which informed employees of the new benefits and what the changes looked like. The podcast featured a panel of internal experts, as well as representation from the NSPCC and is available to all employees internally.
Developed alongside specialists at the NSPCC, the suite of new benefits have been designed to be as supportive and as accessible as possible. The NSPCC’s in house clinicians and midwives have a wealth of experience and knowledge when it comes to giving children the best start in life, and as Capital One is focused on equipping associates who are also parents with tools, knowledge and support when starting a family, the partnership added great value to the new policies.
The new policies include enhancements to the company’s existing Fertility Treatment Policy, now allowing partners to get paid time off for important appointments during the treatment cycle. Meanwhile, the increased Shared Parental Leave pay - enhanced by up to eight weeks - is hoped to allow associates to be equally empowered to play a fundamental role in raising their family as it allows parents to split leave equally.
Capital One UK’s existing Child Bereavement policy has also been increased from two weeks to eight weeks’ paid time off and the company has introduced Miscarriage, Premature Birth, and Stillbirth benefits.
In addition to demonstrating commitment to working families and to supporting associates when they need it most through the campaign, Capital One UK created simplified and consistent guidance, making family leave policies fair, equitable and accessible to all.
The team behind the new policies believe that they will help to provide consistent associate journeys for all associates taking family leave and hope the changes will give associates enough time and space, and offer enough flexibility to allow an empowered return to work when the time is right.
Sonia Morgan, HR Director at Capital One commented:
“We believe that we have always had great benefits at Capital One and are always looking for new ways to make life easier for our associates, which is why we decided to reevaluate our current policies. Delivering compelling benefits that meet the diverse needs of our associates and creating positive associate experiences was at the core of this project.
Regardless of gender or sexual orientation, and whether our associates choose to start their family through adoption, fostering, IVF, surrogacy or natural conception, we want all associates to feel supported at every step of the way.
Our Business Resource Groups- voluntary, associate-led groups that fosters a diverse and inclusive workplace - were consulted throughout the project and the insights they provided were integral to the success of this project.
I am really proud of the work the team has done in delivering these compelling benefits and resources to our associates.
If this year has proved anything, it’s that fitting in your home and work life can be a balancing act and we believe these policies will help to support everyone regardless of how they choose to start a family.”
Margaret Gallagher, Head of Local Campaigns at the NSPCC commented:
“We were delighted to partner with Capital One to support the roll out of their recently developed Family Leave approach.
We know that being flexible for families and supporting them, particularly at the start of their journey, is a key aspect of promoting health and wellbeing for all; parents, carers and children.
Our Look Say Sing Play campaign links particularly well to this approach by highlighting the attachment and relationship that families build on from day one with a range of helpful tips and resources as well as signposting to additional support, we are delighted to introduce this campaign to Capital One employees through webinars and wider promotion of the campaign resources.”.