Fidelity International will put in place a paid care leave policy for all employees globally.
The Family Care Leave policy will come into effect on 1 March 2021 and will mean employees can take at least five days of paid leave per year for reasons such as caring for elderly parents, looking after a sick or disabled family member or to manage unexpected events such as nursery closures.
Last year, the UK Department of Business, Energy and Industrial Strategy consulted on a proposal to give employees a week of unpaid carer’s leave each year to provide unpaid care. Although a step in the right direction, campaign groups such as Carers UK said paid leave would be more effective.
Sally Nelson (pictured), chief people officer at Fidelity International, said: “Fidelity Family Care Leave has been in the planning for a while but the challenges of the recent Covid-19 pandemic have highlighted even further the caring pressures we can all sometimes face and the importance of offering the flexibility to provide that vital care for our loved ones.”
Fidelity International is among several investment firms that offer shared parental leave, alongside Aviva, Invesco and Columbia Threadneedle, among others. Fidelity’s global Enhanced Paternity Leave entitles staff to 26 weeks of fully-paid leave for each employee within the first year after the child is born.
