Company name : A&O Shearman
Activity sector : Other service activities
Company category : Large company
Description of the action
Context
At our firm, the reduction in salary during parental leave has historically been a significant barrier for our team members for them to take parental leave. Recognizing this challenge, we have implemented an inclusive policy that supports both fathers and mothers equally and applies to both lawyers and employees.
Objectives
• Enhancing Work-Life Balance: By providing financial support during parental leave, our firm enables parents to take necessary time off without the stress of a significant income reduction. This promotes a healthier work-life balance, allowing parents to dedicate more time to their children during crucial early years.
• Increasing Inclusivity: The measure is designed to support both fathers and mothers equally. This helps break down traditionalgender roles and encourages both parents to participate actively in childcare, promotinggender equality within the firm.
• Improving team member retention: this scheme tends to enhance team member satisfaction and loyalty. They are more likely to stay reducing turnover rates and retaining valuable talent. While there is an upfront cost associated, the long-term benefits of reduced turnover, higher team member satisfaction, can outweigh these initial expenses.
• Attracting Top Talent: A clear and progressive parental leave policy is a strong selling point when recruiting new talent.
Approach
The process was implemented three years ago. When applying for parental leave, the team member only needs to indicate that they wish to benefit from this measure. Communication around this internal policy is done through our internal newsletter and during individual meetings with the HRBPs following the announcement of an upcoming birth. During this time, the HRBP presents all the options for parental leave as well as the internal measure.
Impact
Before the introduction of this measure, no male lawyers took parental leave and few women did. On top of the pay cut they would have to endure during this period, many felt that taking time off to care for a newborn would damage their career opportunities. As a result, they missed out on the benefits of bonding with their child and sharing the responsibilities of parenthood. After the measure was implemented, almost all future parents (men or women) took parental leave. The measure also guaranteed them a flexible return to work policy. It also created a culture of support and respect for lawyers who chose to balance their professional and personal lives.
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