We offer paid maternity, paternity, adoption or shared parental leave, if you’ve been with us for at least 13 weeks. Specifically, we offer 52 weeks of primary caregiver leave (26 weeks at 100% pay, 13 weeks at Statutory Maternity Pay (if applicable), 13 weeks of unpaid leave). Plus 13 weeks of secondary caregiver leave at 100% pay. We also offer up to eight days of leave per year for fertility treatments to support Monzonauts in their family planning.
We offer 10 days of compassionate leave to all staff as standard, access to grief counselling, and if further paid leave is needed then that’s a conversation that can be had between the Monzonaut, their manager, and our People team.
All employees have a learning budget of £1,000 a year for books, training courses and conferences. There are also regular knowledge-sharing sessions and (when we’re back in the office) a library of industry-related books that you can borrow at any time.
Mental health support
We all struggle with mental health at times. Needing support when things get tough is a normal part of life - and we're working hard to break the stigma around mental health in the workplace.
With 43% of UK businesses reporting to have employees absent from work for more than four weeks due to ill health in the last two years, it's time to take a different approach.* We want our team to feel supported to bring their whole selves to work. We provide access to counselling through our healthcare and explicitly encourage Monzonauts to take time off for their mental health when they need it. We have trained over 50 members of our team to become mental health first aiders to offer advice and support to their colleagues throughout the day.
We actively choose to work with healthcare providers that cover mental health extensively and our private healthcare offers discounted access to gyms and we promote proactive mental health support through discounted access to apps such as Headspace and Thrive.
- Information taken from the British Chambers of Commerce
Paid leave for colleagues who suffer from pregnancy loss or who are undergoing fertility treatments
Monzo has become the first bank in the UK to introduce dedicated policies of additional paid leave for colleagues who suffer from pregnancy loss or who are undergoing fertility treatments.
It’s appropriate to recognise and support our colleagues (male and female) who may be experiencing these emotional and physical challenges, the number of parents at Monzo has increased 7% since 2018.
Colleagues who suffer from pregnancy loss (including but not limited to stillbirth, miscarriage and abortion) will have up to ten days additional paid leave. This also includes colleagues who are partners or surrogate mothers, recognising that pregnancy loss doesn’t just affect women or heterosexual partners.
Colleagues who are undergoing fertility treatments, diagnosis or consultations will have up to eight days of additional paid fertility leave per year (fully flexible). This might be used for taking time to rest after a procedure, recover from the emotional effects of treatments or to attend outpatient appointments and scans. We’ve also created an employee support group for colleagues going through similar journeys.
We are a living wage employer
This is a public commitment that every single member of the Monzo team, regardless of whether they are employed by us or third-party contractors receives at least the minimum living wage as set yearly by the Living Wage Foundation.
Diversity & Inclusion
We are a signatory of the Women In Finance Charter
When we signed up to the Women in Finance charter in May 2017, 38% of our board members and 11% of our executive committee identified as women. We said that by 2020 we’d aim to have women make up at least 40% of both our executive committee and our board which we achieved.
As of 30th September 2022, we have a representation of 41.2% women across our executive committee and board. Our board is made up of 55.6% women and our executive committee is 25.0% women.
We continue to review the representation of our most senior leaders and are working to make sure we have a strong pipeline of women throughout our senior manager population. You can find out more about how we are improving gender representation in our latest Gender Pay Gap update and Diversity and Inclusion report.