Banking giant Goldman Sachs has offered staff emergency nannies to look after ill children and elderly relatives as part of their latest push to reduce its gender pay gap.
London employees of Goldman will receive an extension of the US investment bank’s backup care programme. Part of the scheme will see nanny care for ill children and same service for dependent family members who need help unexpectedly.
Goldman, which employs around 6,000 people in the UK, has been on a drive to reduce its gender pay gap, partly caused by many senior positions being taken by men.
London employees of Goldman will receive an extension of the US investment bank’s backup care programme (stock image)
Recently it has offered free gender reassignment surgery and IVF fertility treatments. The latter has been seen as a ploy to keep female staff, as typically many women walk away from the job due to its unsocialable lifestyle.
It also launched a programme to ship new mothers’ breast milk back to their children if they worked overseas.
Goldman was one of the first corporate firms to introduce ‘lactation rooms’ for women to express milk and it also runs free pre-natal fitness classes at its office gym. It also has an on-site daycare where employees’ children are cared for 20 days each year for free.
Goldman’s US offices will deliver freezing kits to nursing bankers’ hotel rooms, and that the expressed milk will be delivered by courier.
In a statement regarding the new nanny service for London workers, Goldman said: ‘The firm recognises that backup care is an essential benefit when your usual care arrangements break down.’
Workers will have access to 20 days of in-home care per child or dependent adult each year. Staff will have to pay just £4 per hour to use the service, while free on-site childcare is also on offer.
Goldman has signed up to the UK women in finance charter, which aims to raise the proportion of women in senior positions to at least 30 per cent by 2023.
The move is part of a ploy to help balance the gender pay gap in the firm (stock image)
Commenting on its recently released gender pay gap figures in the UK, Goldman said lower pay for women was due to its ‘current reality that there are more men than women in senior positions in our organisation’.
The mean pay gap across Goldman Sachs International was 55.5%, based on hourly pay over the 12 months to April 2017, while the median pay gap was 36.4%.
Sally Boyle, the bank’s international head of human capital management, said the policy was a result of continuing conversations with staff.
She said: ‘Providing care to children, elderly parents or other dependants is a significant part of many employees’ lives. It’s important we recognise the challenges that can come from balancing these commitments with work and do everything we can to support our employees and their families when the need arises.’