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UK asset managers ‘failing to disclose’ parental pay benefits

parental_leaveThe majority of the UK’s asset management firms are failing to disclose basic information on pay and duration of parental leave, a report has claimed.

According to Executive Coaching Consultancy (ECC), which assessed 89 asset managers in the country, nearly 75% of firms were found to be non-transparent about the support they offer parents. 

This comes at a time when the UK workforce has a “record number” of dual-career parents working full time, “and as coronavirus increases the challenge parents face in balancing work and parental responsibilities”, the report said. 

Around half of UK asset managers assessed make no reference to supporting working parents at all, while many issued “generic statements” with no specific details, the study found. 

Geraldine Gallacher, ECC chief executive and author of the report, said:  “The implications of these findings for those responsible for attracting and nurturing future talent are clear: firms across the sector need to up their game when it comes to transparency around the support they offer working parents.”

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