Atom Bank has strengthened its family-friendly credentials by increasing maternity and paternity leave from day one of employment.
Under the new policy, maternity leave now provides six months on full pay followed by six months on half pay, while paternity leave has been extended to six weeks on full pay. The move builds on Atom’s existing flexible offer, which includes hybrid working and a four-day week with no reduction in pay.
The bank said the changes are intended to normalise caregiving for both parents, stressing that when parents are equally able to care for a new arrival it supports female career progression and encourages shared responsibility at home.
By contrast, statutory maternity pay covers 90 percent of average weekly earnings (AWE) for the first six weeks, then drops to £187.18 or 90 percent of AWE, whichever is lower, for the remaining 33 weeks. Statutory paternity leave provides just two weeks, paid at the same capped rate.
Mark Mullen, CEO of Atom, said: “We’re proud to announce these improvements to our maternity and paternity leave offering. We believe that providing robust parental leave for all empowers our people to balance work with their family responsibilities.
“We’re in the business of fostering a more engaged and happier workforce. This, alongside our hybrid working policies, four-day working week, and our upcoming move to a state-of-the-art building in Newcastle, underscores our dedication to flexibility and to supporting our Atom family as we continue to grow the business.”
The enhanced benefits come as the savings and lending specialist completes its relocation from Durham to its new headquarters at The Pattern Shop in Newcastle.
