Standard Life
Corporate
profile
- Financial
services sector
- 10,000
employees in the UK
Work-life policies - Flexitime
-
Part-time/reduced hours
-
Enhanced rate of maternity pay
-
5 days paid paternity leave
-
Career breaks 1-5 years
-
Paid adoptive leave
Through
its staff policies and procedures, Standard Life aims to enable staff to balance
their working and personal lives in as flexible a way as possible. Whilst we realise
that we still have some way to go towards achieving this aim, we have recently
put in place a suite of family-friendly leave policies with this goal in mind.
The provisions
offered to employees do not differentiate between permanent and direct temporary
members of staff. Standard Life believes that benefits that help staff to fulfil
their caring and other responsibilities should not be restricted on the basis
of employment status.
In
addition, the Company offers paid leave to the prime carer of an adopted child
(this applies to both male and female employees). Employees are entitles 18 or
29 weeks leave and pay for 4 or 8 weeks, dependent on length of service. Female
staff are entitled to a Company enhanced rate of maternity pay; fathers are offered
5 days paid paternity leave or up to 10 days in the case of a multiple birth.
They can take this leave at any time up to the eighth week after the birth or
adoption of the child.
Staff
with 3 or more years service can take a career break of between one and five years
to enable them to undertake significant or personal commitments.
Flexitime
working is also offered to the majority of our staff. Prospective and current
employees are increasingly looking for flexibility in working patterns to help
them to achieve a healthy work/life balance. The opportunity to take leave for
domestic reasons helps to reduce stress on staff who need to balance work and
life responsibilities. Less stress in turn leads to a more productive workforce.
These policies
have been successful because employees are demanding more flexible working arrangements.
Companies who do not respond to these demands risk losing or not recruiting the
best employees. The success of the policy comes from 2 sources - employees are
demanding flexibility and our customers are pushing for a 24 hour service. Flexibility
therefore fulfils both staff and business needs.
By
offering a variety of flexible leave policies, we aim to become an employer of
choice within an ever more competitive labour market. These policies are designed
to attract and retain the best employees available. A growing number of employees
(both male and female) have caring responsibilities. This is partly due to demographic
changes where staff may have older relatives to care for as well as children.