British Land leads the way on Shared Parental Pay
06 Mar 2017
British Land today announces that it is providing enhanced Shared Parental Pay to employees, providing parents with equal benefits in terms of pay following the birth or adoption of a child.
British Land’s approach will allow more parents to enjoy the benefits of Shared Parental Leave by offering enhanced pay for both parents, and goes above and beyond statutory Share Parental Leave requirements.
The concept of Shared Parental Leave is to allow both parents to play an equal role in the early stages of raising of a child. It also provides women with the opportunity to return to work at an earlier stage than they may be able to under a traditional maternity contract and allows their partners to play a fuller role in a child’s first year and enjoy a better work-life balance.
This is a progressive step towards improving gender equality in the workplace, providing flexibility and choice to employees in how they care for a child in its first year, and demonstrates British Land’s commitment to inclusivity, helping to attract and retain talented individuals of all sexes.
Chris Grigg, Chief Executive of British Land, said: “The decision to update our Shared Parental Leave Policy to benefit men and women equally is a big step forward for British Land, providing parents who work for us more choice and flexibility than before. It allows women to return to work earlier if they wish, and for their partners to be more involved in caring for their child in its first year.
“We create Places People Prefer which centres on understanding our customers and responding to changing lifestyles. It feels right to take a modern approach to parental leave when we aspire to match ourselves with modern lifestyles, promote health, improve productivity and increase enjoyment through the assets we own.”
Shared Parental Leave, which became a statutory right on April 5 2015, allows all eligible employees in the United Kingdom to choose how to share the care of their child in their first year. It can work in a number of ways:
For example, a father could take two weeks’ paternity leave, then return to work while his partner is on maternity leave. After his partner returns to work the father could take the remaining weeks of Shared Parental Leave.
In another instance, a mother could take a block of maternity leave, her partner could take a subsequent block of Shared Parental Leave and then the mother could take a further block of Shared Parental Leave with her partner having returned to work.
Under the system introduced by British Land today, all employees participating in Shared Parental Leave will be paid at the same rate as enhanced parental pay throughout the period involved.
|Charlotte Whitley, British Land
||020 7467 2933
|Giles Barrie, FTI Consulting
||020 3727 1042
|Emma Hammond, FTI Consulting
||020 3727 1227
Notes to Editors
About British Land
We are one of Europe’s largest publicly listed real estate companies. We own, manage, develop and finance a portfolio of high quality UK commercial property, focused on Retail and London Offices and Residential. We own or manage total assets of £19.0 billion (British Land share is £13.9 billion) as valued at 30 September 2016. Our properties are home to over 1,200 different organisations ranging from international brands to local start-ups.
Our strategy is to create Places People Prefer. It is based on long term trends and creates a portfolio suited to current and future needs which are aligned to modern lifestyles. We employ our placemaking skills, and increasingly our mixed-use expertise to expand the appeal to a broader range of occupiers and drive long term performance.
Retail accounts for 49% of our portfolio. We create outstanding places for modern consumer lifestyles, places to shop, eat and be entertained. Comprising over 20 million sq ft of Retail and Leisure space across regional and local multi-let destinations, superstores, department stores and leisure assets, the Retail portfolio is modern, flexible and adaptable to a wide range of formats.
Office and Residential accounts for 49% of our portfolio. It comprises 7.6 million sq ft of well-connected office-led campuses and ‘campus-lite’ clusters of high quality buildings. Office campuses include Regent’s Place and Paddington Central in the West End and Broadgate (50% share) in the City. Other assets include The Leadenhall Building, York House, 10 Portman Square and Marble Arch House and our residential assets are at Clarges Mayfair, The Hempel Collection and Aldgate Place.
Two per cent of our portfolio is at Canada Water – a 46 acre redevelopment opportunity in our medium term pipeline to create a new mixed-use urban centre for London.
Sustainability is embedded throughout our business. Our places become part of their local communities and promote health, improve productivity and increase enjoyment. We protect asset value and generate income from energy generation and efficiency, materials innovation and flood risk reduction, and develop skills and opportunities to help local people and businesses grow.
In April 2016 British Land received the Queen’s Award for Enterprise: Sustainable Development, the UK’s highest accolade for business success for economic, social and environmental benefits achievements over the last five years.
Further details can be found on the British Land website at www.britishland.com.
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