Financial Services Compensation SchemeThe Financial Services Compensation Scheme (FSCS) was launched in 2001 to help people get back on track when authorised financial services firms fail.
The Personnel Today Awards 2021 return to the Grosvenor House Hotel on London's Park Lane on 16 November. Register your interest in attending here.A family-friendly approach is central to the organisation’s culture and it offers a generous benefits package, with many benefits that can be extended to include family members. This includes an FSCS-funded health insurance scheme that covers employees’ partners and children; a virtual GP service that is open to children free of charge; and an employee assistance programme that offers specific resources and advice for families. Its shared parental pay offer matches its enhanced maternity pay offer, which provides 100% of salary for weeks one to 20, statutory maternity pay for weeks 20 to 39 and unpaid leave for the remainder of the year. Enhanced paternity pay is also offered, with all employees able to take up to 20 weeks paid paternity leave for each child. The FSCS has seen 100% of fathers taking more than two weeks, and the majority using the full 20. During the Covid-19 pandemic it increased its paid dependants leave from five to 20 days – this change has since been made permanent. Other types of family leave, including adoption leave, are also offered. Offering family-friendly benefits has helped the FSCS achieve 62.5% female representation on its executive team and 54.5% female representation on the board in 2021. It has also seen its median gender pay gap reduce from 11.8% in March 2019 to 6.5% in March 2020.