The cost of maternity leave – are you over-egging it?
Neville Mort, head of education at The Education BrokerFrom extensive work with thousands of schools, we find that school business managers can often not know how to calculate the cost of maternity leave. By ‘cost’, we mean net cost. This net cost is derived from knowing what you would pay the person on leave, what you can claim back, how you claim it back, what it would cost you to cover that period of absence and how you would cover that period.
Some significantly over-estimate the cost. Some, particularly where their school participates in a local authority ‘mutual’ scheme, might even tell us there is no need for them to know.
In the spirit of ‘knowledge is power’, we’re here to show you the true cost of maternity leave and why it’s important you know it. Our aim is to bring you some comfort in a time of tough budgeting.
Moreover, we will compare self-management versus a ‘mutual’ versus an insurance policy. We’ll give a checklist of questions to ask yourself and potential providers. You will leave more informed and more able to tackle a subject which we know, for many, is quite tricky.
Take home points:
- Knowing the true cost of maternity leave.
- Having an insurance checklist.
Anyone wishing to get a better handle on the true cost of maternity leave and improving how the budget is managed.