Babynomics: Going Back to Work From Maternity Leave
There’s no such thing as loving your baby too much, however, new research from the Financial Services Compensation Scheme (FSCS) finds that mums-to-be are feeling more financial pressure to return to work than parents with one child under five years old did.
Although it is possible to take up to 12 months off on maternity leave, less than a quarter of expectant mothers plan to return to work after a year off on maternity leave (23%), while a further two in ten plan to go back after six or nine months (both 19%).
The FSCS research reveals that mums think the money they can earn is far more important than their career ambitions. Two thirds (65%) of those surveyed said their main reason for returning to work is to support family or pay the bills. Just fewer than one in five (16%) said their main reason was to maintain their career.
Susanna Scott, Co-founder of BritMums, the UK's largest blogging network and author of A Modern Mother, says: “There is no doubt that going back to work after bringing up a baby is incredibly difficult. It’s an emotional wrench, and in some cases, a physical one. Going back to work is a big transition, so my advice would be to try to stay in touch with your colleagues while you are on maternity leave, and negotiate easing yourself back into the work environment. And reduce the stress: find out what your employer will allow in terms of flexibility and dependent leave, so that you can manage things when your child gets ill. And try to find alternative carers to provide emergency childcare, just in case - that will all go a long way to helping you focus on work while you are at work, and on your child when you are at home.”
What is FSCS?
FSCS was set up by government to protect your savings in UK banks, building societies and credit unions. If your financial firm were to go bust, FSCS will automatically refund your savings (up to £85,000 per person) within seven days and it’s completely free of charge. So whether you’re saving for your first family holiday, a new buggy or your child’s education, you can feel rest assured your savings are safe.
You can check that your savings are safe at www.fscs.org.uk/protected