New platform launches to show how much parental leave companies offer
A new UK-based platform has launched to offer greater transparency on company maternity and paternity pay and policies.
Nugget Savings has been created by Harriet Morton-Liddle and Katie Guild with the mission of transforming maternity and paternity pay for the better, so that families are educated, financially prepared and excited for parenthood.
The company’s offering is two-fold, enabling users to search policies but also share policies from their existing and previous workplaces.
Users can search maternity, paternity, shared parental and adoption leave policies and pay details from over 600 companies such as Sainsbury's, Deliveroo, NHS, PwC, and Vodafone, as well as being able to search for companies by industry. Users can access details such as pay amount, length of pay, length of time to qualify for parental leave, clawback policy, and any additional benefits such as check-in days or retail discounts.
As well as offering insight into parental policies, each company has its own unique Nugget Score, indicating the quality of leave compared with other companies, with a score of one indicating a below average policy, two being average and three being above average or competitive.
Co-founder of Nugget Savings, Harriet Morton-Liddle commented: “It’s no secret that becoming a parent is costly, but the cost-of-living crisis and recent mortgage rate increases have only exacerbated these long-standing financial implications of having a family. We now have people who are priced-out of becoming parents due to the costs of having a baby, and this financial burden starts with parental leave policies.
“For too long company parental policies have been hidden, yet have the power to impact whether you can afford to become a parent or not. We launched Nugget Savings to enable greater transparency when it comes to parental leave policies, so employees can confidently join a company knowing what support they’ll receive should they want to become a parent.”
Katie Guild, Co-Founder of Nugget Savings, added: “Becoming a parent is often an overwhelming but exciting time of life that can quickly become a source of worry or anxiety due to the financial burden that parents have to endure. So many times new parents will resort to ‘We’ll make it work’ when it comes to the cost of having a baby, but this shouldn’t be the default and instead, parents should feel happy, confident and supported in starting a family with peace of mind that they can afford it.
“We created Nugget Savings to not only bring greater transparency to company parental leave, but to also reignite the excitement and joy that becoming a parent brings and provide a like-minded community of parents to share their experiences."