Employee Shareholder Status: Impact on maternity leave and flexible working rights

A new employment status, known as Employee Shareholder Status, became law on 1 September 2013. The move was almost universally opposed and has attracted little interest from employers.

In return for at least £2,000 of shares in the employer, a participating employee must give up a number of statutory employment rights and will have to give longer notice of intention to return early from maternity or adoption leave. The normal requirement to give eight weeks’ notice is replaced for these employees by a requirement to give at least 16 weeks’ notice. They must also give up their right to request flexible working.