Lloyds Banking Group understands the importance of supporting working parents with family-focused benefits and flexibility.
An internal engagement survey carried out in September 2014, illustrated that 41% of Lloyds’ 88,000 staff have parental or caring responsibilities, so it offers staff benefits that will support their work-life balance.
Lloyds offers childcare vouchers to all staff as part of its flexible benefits scheme. In addition, it also offers the opportunity to take up flexible-working arrangements.
The bank has communicated to staff about the new tax-free childcare scheme that comes into effect in autumn.
Fiona Cannon, group director of diversity and inclusion at Lloyds Banking Group, says: “There are lots of different scenarios based on a couple’s circumstances, and the different choices available, so clear communication and guidance is key.”
In February 2015, the bank announced that it would introduce enhanced shared parental leave for all eligible UK employees. The policy will offer enhanced pay compared with the statutory minimum, and is aimed at ensuring families make the most effective choices for them around how they care for their child during the first 12 months after birth or adoption.
“The way we live now is very different to even 10 years ago, and Lloyds is committed to supporting all our working parents,” says Cannon. “Childcare remains a cornerstone of the support we offer. Our childcare policy invests in our employees, and supports our desire to building the best team possible.”
In terms of the changes arriving in the autumn, Cannon says: “Our colleagues will have the choice of remaining in our childcare voucher scheme or to sign up directly with National Savings and Investments for the new scheme.”