Standard Chartered Introduces 20 weeks paternity & adoption leave
With the enhanced benefits offered by Standard Chartered, employees can access a minimum of 20 weeks of paid parental leave, irrespective of gender, relationship status, or how a child comes to permanently join an employee’s family.
Standard Chartered Introduced 20 weeks paid paternity & adoption leave for its employees from September.
Standard Chartered a leading global bank offering a wide range of financial & banking services has announced the expansion of worldwide parental leave benefits. The Bank will standardize the amount of parental leave it grants beginning September 1, 2023, allowing parents the option of taking on more equitable caregiving obligations for their children.
Employees can now take advantage of a minimum of 20 weeks of paid parental leave. The paid leaves are regardless of gender, relationship status, or how a kid comes to permanently join an employee’s family.
The expanded benefits are intended to assist working parents. This is part of the bank’s commitment to promoting an inclusive culture in which employees are assisted in balancing personal and professional lives.
“We constantly look at how we can introduce progressive benefits that drive inclusion, improve the employee experience, and help colleagues achieve their potential,” said Tanuj Kapilashrami, Group Head, Human Resources, Standard Chartered.
“We believe that benefits like this help address globally prevalent societal norms around traditional roles, improve workforce participation, and provide options to those who want to take on shared childcare responsibilities,” says the organization. Tanuj Kapilashrami elaborated.
Tanuj Kapilashrami went on to say. “This will improve families’ financial well-being while also creating a more inclusive workplace that supports each individual’s unique family planning choices.”
“We hope that our actions will inspire other employers—from all industries and all over the world—to take similar steps.” Tanuj stated, “If we take a stand together, we can build a movement that creates a more inclusive society.”
- From September 1st, standardized minimum 20-week parental leave will be implemented globally. After receiving local regulatory approval, certain markets will apply the additional advantages at a later date. The improved benefits will also not be available in a few markets for the time being due to anticipated divestitures of all or parts of our business in these markets.
- Local legislation will take precedence where parental leave entitlement exceeds the minimum Group requirement.
- Local HR guidelines, including eligibility conditions and local statutory requirements, may apply.
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