International savings and investments business M and G has introduced pay and leave for employees whose babies require specialist neonatal care for more than seven days.
As of this week, all of the business' 5,500 employees across the globe - regardless of gender - have been given up to 12 weeks of paid neonatal leave, with one week for every consecutive seven days of neonatal care, in addition to their existing parental leave. This aims to ensure that employees can spend vital time with their baby instead of worrying about returning to work or taking unpaid leave.
According to M and G, it introduced the leave policy ahead of the Neonatal Care (Leave and Pay) Bill currently being considered by the UK government, as part of its commitment to offer market leading, flexible and family-orientated people policies to its workforce.
Neonatal pay and leave will be added to its Inspiring Families policy later this year, and will offer higher paid leave terms than the statutory pay requirement expected to be introduced under the bill.
Matt Howells, chief people and corporate affairs officer at M and G, said: “One in seven babies born in the UK receive some level of neonatal care shortly after birth: while some of these babies only receive a few days of care, sadly some have to remain in hospital for weeks or months.
"We hope the additional time we are giving colleagues helps them make up for missing out on time to bond as a family in the early stages of parental leave, and alleviates any financial worries of taking extra time out.”
