Childcare plans at HSBC could start new trend

HSBC’s decision to introduce childcare vouchers and nursery places for all staff may herald the start of a new trend in the competition to attract and retain talent, according to experts.

Last week, the banking giant announced that it was to become the first UK firm to offer the family-friendly benefits to all its staff.

HR consultancy Hudson said other employers could well follow HSBC’s lead, to boost levels of employee engagement.

Mark Carriban, director of Hudson, said: “Committed and engaged employees stay longer, and happier staff also means better customer service and ultimately better customer retention and improved returns.

“Offering extensive benefits programmes and flexible portfolios to staff, therefore, is as much a business decision as a cultural one.”

Hudson research has shown that company and even career loyalty is on the wane. More candidates are asking what employers can do for them, rather than what they can do for their employers.

“What is important is that employers demonstrate a set of behaviours that embody core values across all aspects of their work, including how they respond to the changing needs and demands of potential hires and current employees,” Carriban said.

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