New grandparents at Saga will be offered a week of paid leave

SAGA has become the first British firm to offer grandparents paid leave for the birth of a grandchild.

The insurance firm and cruise operator for the over-50s is offering its 2,500 staff a week of paid time off to celebrate the birth of grandchildren.

Saga will also open its nursery to grandchildren to help staff who are already working grandparents.

The moves follow a survey of its staff that showed a quarter found it “difficult” to balance work with childcare commitments. The survey was coupled with research by Oxford University which found grandparents’ involvement could “significantly” improve a child’s wellbeing.

Advocates for grandparents said introduction of the perks also “make business sense”. It is the latest in a “perk war” intensifying among companies fighting to retain staff. Justine Roberts, the founder of website Gransnet, said: “Employers who recognise the fact that their employees have relationships and responsibilities outside of work will reap the rewards of increased loyalty and staff wellbeing.”

Jane Storm, the chief people officer at Saga, said: “It’s also a symbol of how important older workers are to their companies and to society.

“Working life is getting longer, but the first question many people over 50 still hear is, ‘When are you going to retire?’. We want to change that mindset and show that age is no barrier to continued professional success.”

Companies in Britain have followed the lead of those in the US by offering non-cash incentives to workers to address fears of a dwindling pool of talent. Atom Bank has introduced a fourday week without cutting pay. Staff will work 34 instead of 37.5 hours a week and get either Monday or Friday off. City stockbroker finncap is offering its employees unlimited holiday from next year – a move that it claims is part of a push to avoid worker burnout.

Linkedin shut its offices for a week in April, giving its workforce of 16,000 time off. Nike did the same at its Oregon headquarters in August.

People over 50 are the fastest growing demographic in the UK with some 27.9million people over the age of 50 by 2030. The number of over-50s in the workforce is also increasing, accounting for 42 per cent of all workers, compared with 31 per cent two decades ago.

Shelley Whittam, who works in Saga’s insurance department, plans to take the paid week off later this month.

She said: “I’m so excited to be able to spend a week with my new grandchild and help our family with childcare at such an important moment. As a parent, I’ve been through this myself and have experience that I hope will help my child get to grips with parenthood.”