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The shift in how parental pay is calculated intends to ease the financial pressure on commission earners during periods of parental leave.
CBRE has introduced new parental leave provisions in Australia and New Zealand to provide support for primary carers based on their average yearly earnings, rather than on their base salaries.
The commercial real estate services and investment firm said that it has made the adjustment in an effort to make periods of parental leave less daunting for employees that make a large percentage of their income based on performance.
It identified that time out of the market, away from client networks, and relying on reduced income made parental leave a stressful time for property fee writers.
Now, the firm’s parental leave offering will be calculated by calculating an individual’s average salary-plus-commission earnings, annualised over the past three years.
Beyond that change, the firm said its paid parental leave offering would “effectively rise from 12 weeks to more than 18 weeks”, by adding two weeks of paid leave to CBRE’s existing primary carer policy and adding a one-month return to work bonus.
Ingrid Massey, director of people for CBRE’s Pacific operations, said that the firm is committed to providing support to its workforce through their parental journeys.
“We want our fee writers to know they can be a primary carer, and have a long and successful career at CBRE,” Ms Massey said.
“We’re also providing tailored first year return provisions to help our fee writers rejuvenate their pipelines. More broadly, there are so many things that primary carers need to think about as they transition back into the workplace, which is where our new ‘return to work’ bonus can help with considerations such as childcare fees and meal services,” she added.
The firm noted that its policy covers birth, adoption, surrogacy and long-term fostering placement.
ABOUT THE AUTHOR
Juliet Helmke
Based in Sydney, Juliet Helmke has a broad range of reporting and editorial experience across the areas of business, technology, entertainment and the arts. She was formerly Senior Editor at The New York Observer.
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