Adelaide advisory firm expands parental leave
Financial services and accounting business Perks has extended its paid parental leave program from 12 to 26 weeks, putting it on par with big four firms.
Located in Adelaide and founded in 1981, Perks offers financial advice, wealth management and accounting services.
The firm announced it has boosted its paid parental leave scheme for permanent staff who are their child’s primary caregiver. While previously this was at a maximum of 12 weeks after minimum five years’ service, it has now risen to 26 weeks paid leave after minimum 12 months’ service.
Secondary caregivers are now also entitled to four weeks of paid parental leave, up from one week in the past.
Perks chief executive James Black said the improved policy emphasises the advisory firm’s focus on fostering a workplace that values work/life balance and long-term career development.
“We firmly believe Perks parental leave entitlements are now among the most generous for an independent firm in the professional services industry and compare favourably with policies of the big four and mid-tier firms,” he commented.
“By enhancing our paid parental leave provisions, we are giving our team members the flexibility and support they need during one of the most important and rewarding times in their lives.”
The CEO added that the scheme will ensure Perks can continue to attract and retain quality staff amid a competitive labour market for financial advice professionals.
“Our strengthened support of our team members is part of a broader commitment to improving employee wellbeing across all levels of the organisation through social events, professional development and support of community organisations.”
Earlier this year, landmark reform to pay superannuation on government-funded paid parental leave (PPL) was officially passed in the Senate in September. From 1 July 2025, eligible parents will receive super contributions as part of their PPL.
Amid the push for greater employee benefits and flexible work environments to secure talent, national advice firm Invest Blue was recently recognised in the 2024 Great Place to Work Australia Insights Report as an innovative workplace for its nine-day fortnight initiative.
The structure gave half of the business every second Friday off, with the other half working in the office and vice versa the following week. Staff retained their current working hours on existing days and salaries stayed the same, ultimately giving full-time employees an extra 26 days off per year.
The notable benefits included strong financial results, increased client meetings per adviser, record-high engagement rates and spiked interest levels from job applicants.
AUTHOR
Jasmine Siljic
Recommended for you
AFCA has confirmed United Global Capital’s membership of the body will not be extended to accept further complaints, avoiding a repeat of the Dixon Advisory scenario.
Three of Australia’s largest financial advice groups have shared their thoughts with Money Management on whether they would include crypto on their approved product lists.
Shadow treasurer Angus Taylor has vowed to introduce a bill to legislate a raft of financial services reforms if the Coalition is elected.
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
