Mitsubishi UFJ Financial Group (MUFG) has rolled out new perks for employees in the UK who are parents or have caregiving responsibilities. The goal is to promote diversity and inclusion within the company.
The improved benefits now offer 10 free dependent care sessions, up from the previous six. These sessions provide practical assistance and flexibility for working parents and carers, allowing them to balance their responsibilities while still working. Each session is equivalent to a day at a nursery or up to five hours of in-home adult care.
Starting 1 April 2024, the UK employees at MUFG will get six weeks of fully-paid paternity leave, up from the previous two weeks. This change aims to allow partners of primary carers to spend more time with their families. Additionally, parental transition coaching will be introduced for employees in Europe, the Middle East, and Africa (EMEA) who take maternity or parental leave lasting at least six months.
These coaching sessions, conducted one-on-one, are designed to help both working parents and their managers gain clarity, capability and confidence to continue their careers while managing family responsibilities.
MUFG is also offering a tax-free nursery benefit to its UK employees during the 2024 benefits window (August to September). This initiative is aimed at making early childcare more affordable for employees.
MUFG emphasises that these changes are part of their ongoing efforts to create a diverse, inclusive and fair culture, making it a better place for working parents to advance in their careers. The goal is to promote equality in caregiving, leading to increased diversity among future leaders and a reduced gender pay gap.
Karen Owen, managing director and co-chief human resources officer, Mitsubishi UFJ Financial Group EMEA, stated that MUFG recognises the challenges of balancing career and family and is committed to supporting its employees in navigating both aspects of their lives. The introduction of these new benefits is intended to promote a more flexible work-life balance for employees.
