EY has announced it will offer 39 weeks enhanced pay under new shared parental leave (SPL) regulations, which come into effect on 5 April.
Government regulations state that up to 50 weeks of leave can be shared between parents either at the same time or independently.
EY will offer additional pay on top of the statutory entitlement for 39 weeks – six weeks full pay, followed by 33 weeks half pay – the equivalent of 2.5 weeks more pay than previously offered.
The new measures will “equalise” the firm’s approach to mothers, fathers, partners and adoptive parents, it said.
Liz Bingham, EY’s managing partner for talent, UK & Ireland, said the firm’s approach to shared parental leave is a “solid footstep to modernising the workplace, challenging outdated stereotypes and granting greater equality for fathers, adoptive parents and same sex couples”.
“Creating a working environment where people have greater control over their work-life balance is a personal and commercial imperative; it results in more fulfilled people, higher performing teams, better results for our clients and we recruit and retain the best talent,” she said.
In an interview with Accountancy Age, Bingham, who was awarded an OBE for services to equality in the workplace in the New Year’s Honour’s list, said flexible working strategies must be developed for “different parts of the population” who “require different interventions at different times”.