Atom Bank Bolsters Family Support By Increasing Maternity and Paternity Leave

Atom bank, the saving and lending specialist, has today announced a significant enhancement to its maternity and paternity leave policies.

This progressive move underscores Atom’s dedication to supporting its people and fostering a flexible, family-friendly work environment. The change coincides with the digital bank’s exciting relocation from Durham to its new headquarters in The Pattern Shop, Newcastle.

The new offering, effective from day one of employment, includes:

• Maternity leave: Atom Employees will now receive six months of full pay, followed by six months of half pay.
• Paternity leave: Paternity leave pay will increase to six weeks of full pay.

These enhancements are designed to normalise caregiving for both parents, which has a significant long-term positive impact on female career progression and promotes shared parental responsibilities.

Going beyond the standard

Atom’s updated maternity leave policy is significantly more generous than the statutory entitlement and the average enhanced packages in the UK¹, offering six months (26 weeks) of full pay compared to the statutory 90% for six weeks followed by a fixed rate, and the typical enhanced 12-13 weeks of full remuneration.

Similarly, Atom’s enhanced paternity leave is also a notable benefit, providing six weeks of full pay, which is exceptionally progressive and rare in the UK employment market, especially when compared to the statutory maximum of two weeks at a fixed rate and the common enhanced provision of two weeks of full pay.

A flexible working pioneer

Atom has long been a proponent of workplace flexibility, offering a hybrid working model and a revolutionary four-day working week, which further supports employees in managing their personal and professional lives. In November 2021 Atom became the largest company at the time – and only bank – in Britain to introduce the policy for all employees, with no reduction in salary.

This commitment to flexibility, combined with the enhanced parental leave, solidifies Atom’s position as a leading employer in the North East. The introduction of these benefits also aligns with the bank’s strategic move to its new state-of-the-art office in the Pattern Shop, Newcastle, signifying a new chapter of growth and innovation while maintaining a strong focus on employee wellbeing.

Mark Mullen, CEO of Atom, said: ” We’re proud to announce these improvements to our maternity and paternity leave offering. We believe that providing robust parental leave for all, empowers our people to balance work with their family responsibilities.

“We’re in the business of fostering a more engaged and happier workforce. This, alongside our hybrid working policies, four-day working week, and our upcoming move to a state of the art building in Newcastle, underscores our dedication to flexibility and to supporting our Atom family as we continue to grow the business.”