Global investment organisation Invesco has enhanced its paid parental leave scheme across Europe, the Middle East and Africa region (EMEA) for its 1,692 employees.
Under the new policy, all parents regardless of gender will be entitled to 26 continuous weeks of paid leave at their full salary within 12 months of them being a parent via birth, adoption, or surrogacy.
This will also be backdated to apply to employees who have become parents since 1 January 2020. Additionally, Invesco will offer employees a phased return to work at full pay for 80% of their normal working hours during their first six weeks to assist with the adjustment back into the workplace.
Previously, Investco offered two weeks paternity pay at 100% pay and employees on maternity leave received 52 weeks’ paid leave, with six weeks at 100% pay, 20 weeks at 65% pay (50% paid during those 20 weeks and the remaining 15% paid as a lump sum four months after returning to work), followed by 13 weeks at statutory pay dependent on the country.
Doug Sharp, chief executive of the EMEA region at Invesco, said: “Developing a gender-neutral approach to pay and the parenting experience is part of our genuine commitment to encouraging equality in the workplace. Being a working parent myself, I understand the need for flexibility. I strongly believe that a firm’s culture is one of the most important considerations for attracting and keeping talent. Encouraging and supporting our staff and the teams they work with to feel that Invesco is a place where they can develop their careers and meet their family objectives as well, has been one of the priorities within our diversity and inclusion focus across EMEA.”
“To support this new scheme, Invesco will partner with Talking Talent, an external specialist consultancy, which will offer individual and group coaching and 24/7 online support to fathers, mothers and managers before, during and after their parental leave to help them navigate their parental journey. We hope this will help everyone prepare and balance the needs of family life and the needs of the business, to nurture that partnership at home and at work.”