CXi Software announces Superannuation initiative, new Staff
CXi Software (“CXi”) has announced a new maternity leave initiative aimed at encouraging more women to work in the fintech industry and making it easier for them to take maternity leave without the worry of interrupting their superannuation savings.
“From today, CXi will pay superannuation contributions for any permanent staff member who goes on statutory maternity leave. 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”, said Séamus Ó Concheanainn, Managing Director of CXi. “It is a well-documented fact that taking maternity leave is a significant contributor to women have 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”, he said.
Mr Ó Concheanainn, who started CXi Software in 2013 after 10 years running Foxrock Consulting, added that this new initiative adds to CXi’s Equal Opportunities Employment program, which includes seeking to balance the intake of employees and guaranteeing that men and women are paid an identical salary on commencement of employment 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”. 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.
CXi, which recently demonstrated its new TAURUS unit registry solution at the Afiniation showcase in Melbourne, has continued to grow – adding two new developers, Xiaolong Feng and Rose Saffarian, to its team in the past few weeks. CXi also recently appointed Simon Zandler to the role of Senior Business Analyst, Product and Markets. Mr. Zandler previously held consulting and business development roles at DST Global Solutions, as well as business development roles with Hewlett Packard Information Management.