Why is Peoplebank topping up the Government’s paid maternity leave scheme?

By Peter Acheson, CEO Peoplebank

Peoplebank has instituted Parental Leave Allowance provisions that, we believe, sets a benchmark for the recruitment industry.

Qualifying staff will be eligible for up to 30 weeks’ maternity leave – including 12 weeks’ salary (at full pay), combined with the 18 weeks’ pay (at the National Minimum Wage of a gross $570/week). Paternity leave provisions include 2 weeks paid paternity leave.

We’ve also established support programs to help new mums transition in and out of the workplace.

Why? To begin with, the research is pretty clear.

Numerous studies link increased female representation at senior management/board level with corporate performance. For example, Fortune 500 companies with three or more women Board Directors outperformed those with the least female board representation by: 42% (when comparing return on sales); 53% (when comparing return on equity) and 66% (when comparing return on investment capital) (Corporate performance and women’s representation on boards, Catalyst 2007).

Similar results have been documented by organisations including McKinsey & Co.

Closer to home, some 67% of Australian Institute of Management members count family commitments as the largest single contributor to women’s under-representation in senior management (Retaining Women in the Workforce, AIM Survey March 2011);

So investing in our female employees is, at the very least, a strategic investment in Peoplebank’s future.

More importantly, my vision for Peoplebank is that our growth will be based on the kind of performance that arises from being committed to and passionate about our work. And so it’s important to me personally, and to the company as a whole, that staff feel valued, engaged and supported throughout their career with us. Especially during major life changes that come about when you welcome a new baby to the world.

I am hoping the new Parental Leave Allowance, combined with our approach to providing flexible hours where we can, is another step towards our goal of being one of the best places to work in Australia. Look forward to you coming with us!