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Professional Services

Virgin Money launches new flexible working package for staff

Half of parents said they feared losing their job while on maternity or paternity leave

File photo dated of a general view of a branch of Virgin Money

Virgin Money is launching an increased flexible working package for its staff after publishing research on the importance of better parental leave.

A survey of 1,500 working parents and 500 expectant parents suggested that one in seven have already left a job due to poor parental leave.

Half of parents said they feared losing their job while on maternity or paternity leave, while one in seven (14%) have already left a job due to being unsatisfied with the parental leave and almost a third (29%) of working parents feel maternity and paternity leave in the º£½ÇÊÓÆµ is generally outdated.

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Other benefits workers expect their company to offer include 30 days annual leave (55%), wellbeing days (39%), private medical insurance (31%) and the opportunity to work remotely abroad each year (28%)

Virgin Money - which has major offices in Newcastle, Leeds and Glasgow - said its new package, available to all new and existing staff from day one of their employment, has been designed to reflect the post-pandemic world of work.

Staff have the freedom to work where and when they want, with no fixed expectations of time or days in the office.

Benefits will also include 30 days’ annual leave, plus five additional wellbeing days each year. Mothers, fathers and those looking to adopt can take up to 20 weeks fully paid leave and 52 weeks leave overall.