73% of new dads at the insurer take the full 16 weeks paid paternity leave, up from 66% in 2020.
As we get ready to celebrate International Men’s Day, data published today by insurer Zurich shows dads at the company are choosing to take more time off work to bond with their new children. The majority (73%) are taking the full 16 weeks paid paternity leave, up from 66% in 2020. A further seven per cent have taken at least 10 weeks since the launch of the insurer’s family-friendly policies in 2019 to its 4,500 UK employees.
The policy has enabled over 220 dads and second parents at the company to spend over 325,000 extra hours with their families in the past three years.
Steve Collinson, Chief HR Officer for Zurich UK said: “Our data proves that by having the right policies in place, we can properly support modern families. Many organisations’ current maternity and paternity leave policies were written decades ago when family life was unrecognisable to how it is now. We know that most parents want to play an active role in family life and so workplace policies must reflect that.”
The family-friendly policies have helped boost job applications at the company by a massive 54%.
“Attracting top talent is still a challenge and this is another tool in our armoury,” said Collinson. “We urge Government to enhance the statutory pay for fathers and second parents, which in turn will encourage more employers to follow suit.”
Zurich’s own external research shows that two fifths of dads don’t take the amount of time they need to bond with their new children. And for those not taking any time off, almost half (45%) said it was because they couldn’t afford to take a drop in their salaries.
Recent research shows 76% of dads and second parents were offered just two weeks paternity leave by their employer, the minimum statutory requirement in the UK. Three in five new dads don’t take this leave because of financial pressures, while two thirds (64%) who took the time did not receive their full salary during their time off.