Sony Music UK has announced a new policy that will offer parents a “significant financial contribution.”
The extra cash will go toward the price of child care for preschoolers.
Sony says the new policy, highlights its commitment to diversity and inclusion and shows its “continued commitment to providing the best support for parents.”
It builds on a number of prior employee support initiatives, which cover topics like equal parental leave, flexible work arrangements, the implementation of menopause policies, and domestic violence policies.
The new childcare support programme is “structured to offer tapered grants, correlating to an individual employee’s salary, which entitles lower and middle earners to benefit from increased funding, up to a maximum of £15,000 per year towards childcare costs.”
Sony Music UK’s VP of People Experience, Liz Jeffery said: “The high cost of childcare in the UK often forces parents, and particularly mothers, into part-time work or out of the workforce entirely as it becomes financially unviable.
“We are committed to looking at what we can do to help address issues that can be a barrier for women progressing, and we hope this policy could be the difference between someone returning to work rather than leaving a role”.
Meanwhile, Sony Music UK CEO Jason Iley said: “We have a longstanding commitment to ensuring our company reflects all corners of society.
“This is one of several measures that we have introduced to support parents and increase the proportion of women in roles throughout the company. Our hope is that the tapered model ensures that financial support is going to those employees who need it the most”.
The company has recently implemented core hours, flexible working, a menopause policy, and a domestic abuse policy that was implemented in collaboration with Women’s Aid.
Equal parental leave, where fathers can take 52 weeks of leave as well as mothers for the birth or adoption of a child, was also recently implemented.