LONDON – Nov 18, 2019 – Bain & Company today announces a new parental leave policy in the UK. New parents – regardless of gender – will be eligible to receive up to 52 weeks of leave with the first 29 weeks fully paid.
The new policy, which covers biological births, adoption and surrogacy, will be phased in over the course of 2020 and fully in place by 2021. The changes aim to remove a barrier to gender equality in the workplace, allowing both parents to spend time with their new child.
“We are proud to take this major step towards gender equality at all levels at Bain & Company in the UK. We remain committed to redefining the management consulting industry and we continue to invest to ensure that Bain is a workplace in which all members of our teams can thrive, both personally and professionally,” said Michael Garstka, managing partner of Bain & Company in the UK. “Our equal parental leave policy and broader flexibility options are key components to that.”
Bain & Company earned the #2 spot on Glassdoor’s 2019 ranking of the UK’s best places to work, and the firm consistently receives global recognition for its commitment to diversity and inclusion. Last year, Bain & Company was the highest ranked company in “Leadership and Culture at Work,” according to the UK Chartered Management Institute/Glassdoor Top 20 survey.
While the intent of most traditional maternity leave policies is to offer support, often they imply or even financially force the birth mother to become the primary care giver. This not only influences the role the other parent plays over time, but also influences future decisions a birth mother might make about her career - and in particular can create differences in career timings and progression between men and women, simply driven by gender.
“Our research, both in the UK and globally, has reinforced that flexible working options when offered, supported by line leadership and used by all employees, can and do positively impact employee engagement and advocacy,” noted Garstka.
“Creating optionality by offering equal parental leave is one of the most impactful actions that employers can take to move us forward on gender equality, and I’m pleased that we are able to offer this to option to our employees at Bain & Company in the UK,” said Barney Hamilton, Chief Talent Officer at Bain & Company in the UK. “We hope other employers will do the same in support of long term change in society.”
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About Bain & Company
Bain & Company is a global consultancy that helps the world’s most ambitious change makers define the future. Across 59 offices in 37 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster and more enduring outcomes. Since our founding in 1973, we have measured our success by the success of our clients. We proudly maintain the highest level of client advocacy in the industry, and our clients have outperformed the stock market 4-to-1. Learn more at www.bain.com and follow us on Twitter @BainAlerts.