In a statement, unit registry and investment administration software provider CXi Software announced a new maternity leave initiative "aimed at encouraging more women to work in the fintech industry".
“From today, CXi will pay superannuation contributions for any permanent staff member who goes on statutory maternity leave," said CXi managing director Séamus Ó Concheanainn.
"These employer contributions will be paid at an amount equivalent to the SGC rate payable on that staff member’s ordinary full time salary immediately before going on maternity leave – and will be paid for up to 12 months or the staff member’s return to work, whichever is the earlier," Mr Ó Concheanainn said.
“It is a well-documented fact that taking maternity leave is a significant contributor to women having significantly lower superannuation balances on retirement and, while we promote full equality for all employees, we recognise that it is a social responsibility of employers to address systemic inequities that work against any particular cohort of employees."
The new initiative will add to CXi's exisiting Equal Opportunities Employment program, which seeks to balance the intake of employees and guarantee that men and women are paid identical salaries in similar roles.
“CXi recognises that there is a significant imbalance in the numbers of women employed in software development, but we are encouraged by the increasing proportion of female fintech founders – which must eventually result in a trickle-down effect on the workforce as whole," said the statement.
"CXi also indexes salaries of all staff taking parental leave so that there is no interruption to their earnings growth as a consequence of taking leave."