Monzo quietly introduces paid leave for loss of pregnancy
Monzo s new CEO TS Anil, who replaced cofounder Tom Blomfield in January. (Source: Supplied)
Online bank Monzo has introduced paid leave for employees who are impacted by the loss of a pregnancy, as one of the first companies in the UK to do so.
The pioneering policy forms part of the bank’s new mental health focus, which followed its founder and former chief executive, Tom Blomfield, step down from the role in January after struggling with anxiety and stress.
Monzo will give either partner up to 10 extra days of paid leave if they lose a baby due to abortion, miscarriage or stillbirth, regardless of when it occurs in the pregnancy.
BBC News
By Simon Read
image copyrightGetty Images
A digital bank is offering its workers paid leave after pregnancy loss, such as miscarriage or abortion.
Monzo s new policy echoes a similar move announced by broadcaster Channel 4 last month.
Both companies will allow either partner affected to take up to two weeks additional paid leave. Monzo takes the mental health of its staff incredibly seriously, the bank said.
Under the new policy, workers who suffer from pregnancy loss, including stillbirth, miscarriage and abortion, will have up to 10 days additional paid leave.
The leave will also be offered to workers who are partners or surrogate mothers, recognising that pregnancy loss doesn t just affect women or heterosexual partners , the bank said.
“This also includes colleagues who are partners or surrogate mothers, recognising that pregnancy loss doesn’t just affect women or heterosexual couples,” the bank said. Extra leave can be approved by managers if staff feel they need more than two weeks.
Under UK employment law, businesses only have to allow parents to use planned maternity or paternity leave if they lose their baby after 24 weeks, when it is considered a stillbirth.
Any loss before that is counted as a miscarriage and does not qualify them for maternity leave or pay. It is then up to the discretion of employers whether to offer compassionate leave, annual leave or unpaid holiday.