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Stake Introduces Employee Childcare Reimbursements to Help Families Break Financial Barriers

Wide ranging benefits package promotes equitable career opportunities in fintech, regardless of gender and background

SYDNEY, 8 September 2022 - Digital brokerage platform Stake has introduced an industry leading benefits program, that offers childcare reimbursements of up to $1,000 per month for 12 months, and $500 per month for the following 12 months, for all employees. This gives families the flexibility to continue their careers as daycare costs become increasingly unmanageable. 

Stake’s Head of People and Culture, Aline Van Koninckxloo comments, “Childcare can cause significant financial strain for families, and given the increased cost of living, many prospective parents are worried they won’t be able to make ends meet. Stake’s mission is to help people break financial barriers, so we designed our benefits program to tackle one of the biggest costs facing families today. By reducing the financial burden we’re enabling people to make fulfilling decisions that are in their families’ best interests.”

The program gives ten weeks of fully-paid parental leave to employees, regardless of gender or caregiver status, while birth-giving parents receive an additional six weeks of paid leave to assist with medical care. Parental benefits have no waiting period, allowing parents to grow their family immediately without waiting to qualify for leave allowances. Superannuation is paid across leave balances so that parents can still save for retirement while caring for their children.

Employees of the Aussie fintech will also be entitled to two weeks of paid miscarriage leave, plus ten days of paid family and domestic violence leave. 

Van Koninckxloo adds, “Women overwhelmingly take on most childcare responsibilities, which leads to prolonged periods out of work. Some women would like to return to their careers sooner, but the dated practice of splitting leave allowances according to a ‘primary’ and ‘secondary’ carer means it’s often not financially feasible for parents to share responsibilities. Companies can offer more equitable career opportunities by changing the systemic assumption that women are the default primary carers.”

Promoting Personal and Professional Growth for Each Employee

Stake has also unveiled additional benefits to promote the personal, social and professional growth of each employee. The wide ranging program includes:

  • A Wellbeing and Mental Health Allowance: Full time employees are entitled to $1,000 per year to use on services or activities that promote emotional, physical and social wellbeing.

  • Professional Development Allowance: Employees are entitled to $2,500 a year to spend on training courses, events, and accreditations that help them grow professionally.

  • Mental Health Days: Employees are awarded two additional days of leave to help them reset and avoid burnout. Staff members can use these as they desire with no advance notice needed — whether that is simply for a rest day, a walk in nature, or spending the day at the spa. 

  • Public Holiday Swap Days: Stakehelps people from all cultures to celebrate occasions that mean the most to them, allowing people to swap assigned public holidays for days of their own preference.

  • Additional Sorry Business Leave: First Nations employees are entitled to an additional five days of paid leave to fulfil the cultural and mourning responsibilities known as Sorry Business.

  • Employee Stock Options Plan: All employees are entitled to a stake in the company enabling them to benefit personally from the company’s growth.


About Stake

Since its launch in 2017, Stake has amassed over 500,000 customers and 100+ employees across offices in Australia, New Zealand, Brazil and Europe. This has been achieved by spearheading U.S. trading with a commission-free model and Australia’s most affordable CHESS-sponsored trading platform for ASX securities.

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Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

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