Remuneration and benefits are hot topics right now. The cost of living is up, and while inflation is slowly easing, we’re not necessarily feeling much relief yet. Sharesies’ purpose is to create financial empowerment for everyone, and that includes our team. Benefits are an important part of this, and today, we wanted to share some changes we’ve introduced to our parental leave offering.
Having kids is one of the most important—and expensive—life events. Since we were just a small startup, we’ve chosen to provide extra support for parents above and beyond our legislative obligations. Now that Sharesies has grown up a bit, it was time for an update.
To better support new parents, we’ve extended our parental leave top-up from 18 to 26 weeks—matching the NZ parental leave period. We’ve also increased our parental leave top-up cap to $110k. Plus, we offer three weeks paid (capped) partners leave once pēpi (baby) is born.
For employees who don’t meet the “work test” threshold to be eligible for government payments, we provide the same parental leave provisions as a permanent employee working for at least 6 months but less than 12 months receives (basically, we top up their pay regardless of whether they get government payments). We continue to pay KiwiSaver on parental leave top-ups, and after 3 months back at work, parents taking annual leave are paid at either their average weekly earnings or ordinary weekly pay, whichever is higher (meaning our parents can take leave knowing they’ll get their ‘standard’ pay after 3 months). Taking parental leave doesn’t impact anyone’s entitlements to their employee share options (yes we’re shareholders as well as employees at Sharesies!), and of course, we offer flexible working to all of our returning parents (well, all employees really!)
This also covers our small team in Australia (even though Australian paid parental leave is currently less than 26 weeks).
Our team was really excited to hear about our new and improved parental leave offering, and we’re proud of it too! We’re committed to making Sharesies a welcoming and flexible environment for parents and supporting our people as they grow their families.
You can find more detail and keep up to date with our offering on Crayon (https://lnkd.in/g2YmGCmF).