Sony Music announce childcare support scheme
Sony Music has introduced a new policy that entitles parents to claim a significant financial contribution towards the cost of childcare for pre-school age children. The childcare scheme provides employees with funding towards the cost of childcare during working hours and is structured to offer tapered grants, correlating to an individual employee’s salary. This entitles lower and middle earners the ability to benefit from increased funding, up to a maximum of £15,000 per year towards childcare costs.
Jason Iley, MBE (Chairman and CEO, Sony Music UK & Ireland) said, “We have a longstanding commitment to ensure 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.”
This policy demonstrates the company’s continued commitment to providing the best support for parents and underlines our commitment to diversity and inclusion. It follows the announcement of additional measures devoted to improving diversity, talent retention and addressing issues that disproportionately affect women.
Liz Jeffery, VP People Experience, Sony Music UK & Ireland 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 for women progressing, and we hope this policy could be the difference between someone returning to work rather than leaving a role.”
Recent policies introduced include Equal Parental Leave – where fathers can take 52 weeks leave as well as mothers (including for adopted children) – Core Hours, Flexible Working, a Menopause policy and a Domestic Abuse policy, which was implemented in partnership with Women’s Aid. In 2018, Sony Music announced a neonatal policy and was the first private sector company in the UK to offer full pay during the period in which a baby is born before full term. This policy was announced in association with charity The Smallest Things, who welcomed the government’s announcement in 2020 offering parents statutory paid leave for every week a baby remains in neonatal care, up to a maximum of 12 weeks.