The new policy will allow parents of pre-school age children to claim a significant contribution payment towards the cost of childcare.
Sony Music launches a new childcare support scheme, offering employee childcare grants of up to £15,000 per year.
The scheme entitles parents of pre-school age children to claim funding to cover the cost of childcare during working hours.
A huge help for working parents, the scheme will reduce the pressure and costs incurred in finding good-quality childcare, a much-needed boost during the ongoing cost of living crisis.
Helping with the cost of childcare ‒ much-needed assistance for working parents
Sony Music launched the new scheme earlier this week, offering employee childcare grants of up £15,000.
Jason Iley MBE is the Chairman and CEO of Sony Music UK and Ireland. Speaking on the scheme, he 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.”
Sony Music offers employee childcare grants up to £15,000 ‒ income-based support
The scheme is structured to offer tapered grants, dependent on an individual employee’s salary. This means that lower and middle earners will benefit the most from increased funding.
With a company-wide commitment to diversity and inclusion, the new scheme hopes to support workers from all walks of life. This support scheme follows a recent announcement of additional measures to improve diversity and talent retention.
Over the past few months, Sony Music has introduced a number of inclusive measures to address issues that disproportionately affect women.
Looking after people outside of work ‒ the importance of work-life balance
Sony Music hopes that the employee childcare grants of up to £15,000 will allow women, in particular, to enjoy a greater work-life balance.
Liz Jeffrey is Vice President of People Experience at Sony UK and Ireland. Speaking on the announcement, she 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 to women progressing. So, we hope this policy could be the difference between someone returning to work rather than leaving a role.”
The new scheme will be a huge help to working parents. Now, it is hoped that similar initiatives will be taken up by other businesses.