Negotiating maternity pay/package

[AWholeNewWorls]

Hello all

Bit of background: I'm pregnant with my first DC (due April) and work in a very new, very small asset management company. We're a team of 6 and the company's first recruit was in December 2021. I was hired in April 2022. I'm the only woman in the company and the first person to require maternity leave. The company offer SMP but nothing else. I would love to ask if they could reconsider my package during my maternity leave but feeling a bit timid about it. Has anyone tried to negotiate anything similar or is this just not a done thing?

I'm (not in a bragging way) valuable to the company and do a fairly niche sector and they've been very happy with my performance. The other thing is although I really enjoy my role and can see myself really developing in this role, l will probably look to find another role offering a better maternity package as we would still like more children in the future.

Just a hopeful bump to resurface this topic, in case anybody can advise me.
Many thanks!

There's no harm in asking.

Do some research into what comparable roles in other organisations get. Benchmark industry standards (Hays). Check with HMRC as I think small employers get help to pay SMP, 92% rebate is what it used to be. As SMP is 90% (check rates) for first 6 weeks, the top up is only c10% to employer plus ERNIC and pension. Write a business case with costings and then ask.

The pregnantthenscrewed website may help.

We are a small company - not much bigger than the one you work at. Small companies get more than 105% (I think - over 100% anyway) to pay for SMP - but SMP is not enough and we spent a lot of time coming up with a package that balanced the needs of the business with the needs of the individual. You are right they won't want to lose you, but a small organisation takes a bigger hit (percentage-wise) when they lose someone to maternity leave.
We considered the locking in - working for a certain length of time after returning or paying back maternity leave but we decided we didn't want someone returning who didn't want to - too hard to manage and too disruptive on the team. We settled with they have to have been with us at least 2 years and then we came up with a stepped package that gave an initial extended period of 100% and then a period of 50:50 - so you are both taking a hit. We also introduced enhanced paid paternity - not as extensive as maternity but generous. It hasn't been used yet and it'll be costly when it does but we value our team, and we hope the feeling goes both ways.
When having the chat - which you should have asap - they will need time to consider, they will want you back, they'll want your loyalty, point out how it will benefit them but understand - paying 1/6 of your workforce to not work is painful but they'll get it back in spades if you stay with them. Loosing a team member and rehiring is expensive and risky too.

Do you feel comfortable asking whoever is responsible for setting this out? If so, I think it would be completely fine to inquire. You can just say it's not something you ever thought about but now you're pregnant (and maybe know others who are/have been pregnant on better packages) you think it would be nice to have. It would also help the company attract better talent

I would say industry standard in financial services is 26 weeks full pay. Position it as industry benchmarking and offer to help them rewrite their maternity policy to be in line with competitors. I'd approach it from that angle rather than saying "I want paying" - set it out as a way the company needs to evolve to keep in line with employer norms. You will likely lose your bonus the year you're off so you could also/instead ask for a return to work bonus to incentivise you to return (again, make this a policy change thing rather than specific to you).

What's their gender pay gap like?

@februarysunset they have 6 employees - how to you expect them to calculate a meaningful gender pay gap?

Forgive me @500thousand - I missed that bit.