Goldman Sachs offering staff free emergency nanny care
Scheme is part of broader initiative to support the bank’s female stuff
Leading investment bank Goldman Sachs is to offer its London staff “emergency nannies” as part of an initiative to cut the company’s 55% gender pay gap.
The US-based multinational firm will give each of its 6,000 workers in the UK up to 20 days of emergency care per dependant each year, the London Evening Standard reports. This includes an in-home nanny service for ill children who are unable to attend school, and carers will be made available to take care of adult dependents.
In a message to its employees, the company said that it “recognises that backup care is an essential benefit when your usual care arrangements break down”.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The firm hopes the initiative will reduce the burden of family care, which typically falls on women, as part of a wider goal of getting more women into senior positions at the the firm, according to The Guardian.
To further support working mothers, Goldman “has also launched a programme to ship mothers’ breast milk home to their children if they have to work overseas”, the newspaper says.
Goldman is a signatory of the UK’s Women in Finance Charter, introduced by the government after a 2015 review found that women only make up 14% of the executive committees in the financial services sector. The charter aims to increase the proportion of women in management roles to 30% across the UK’s 270-odd financial firms by 2023.
Last year Goldman admitted that it still has “significant work to do”, after the UK Gender Pay Gap report revealed that the average hourly pay rate of men at the bank was more than twice that of their female coworkers. The company said this was the result of “more men than women in senior positions in our organisation”.
Sally Boyle, head of Goldman’s HR, said the the new perk was a result of continuing conversations with staff.
She added: “Providing care to children, elderly parents or other dependents is a significant part of many employees’ lives. It’s important we recognise the challenges that can come from balancing these commitments with work and do everything we can to support our employees and their families when the need arises.”
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
-
7 beautiful towns to visit in Switzerland during the holidays
The Week Recommends Find bliss in these charming Swiss locales that blend the traditional with the modern
By Catherine Garcia, The Week US Published
-
The Week contest: Werewolf bill
Puzzles and Quizzes
By The Week US Published
-
'This needs to be a bigger deal'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
TD Bank accepts $3B fine over money laundering
Speed Read The US retail bank pleaded guilty to multiple criminal charges
By Peter Weber, The Week US Published
-
FDIC chair out after toxic work culture report
Speed Read The report revealed a trend of sexual harassment and discrimination at the Federal Deposit Insurance Corporation
By Peter Weber, The Week US Published
-
Citibank to cut off online access for customers who don't go paperless
Speed Read The bank will shut off the customer's access to both their online website and mobile app
By Justin Klawans, The Week US Published
-
First Republic: will UK banks survive unscathed?
Under the Radar US shares dip after collapse of third regional bank, but experts say contagion to the UK is unlikely
By Arion McNicoll Published
-
Banking crisis: has the city weathered the financial storm?
Talking Point The financial storm appears to have abated, but no one’s ruling out more squalls along the way
By The Week Staff Published
-
Should the UK relax bank ring-fencing rules?
Talking Point Treasury minister said he hopes to ‘boost competitiveness’ in the City with easing of regulations
By Richard Windsor Published
-
Should caps on bankers’ bonuses be scrapped?
Talking Point New chancellor Kwasi Kwarteng believed to be planning contentious move to ‘boost the City’
By Chas Newkey-Burden Published
-
Labour shortages: the ‘most urgent problem’ facing the UK economy right now
Speed Read Britain is currently in the grip of an ‘employment crisis’
By The Week Staff Published