Standard Chartered Bank Introduces 20-Week Paternity & Adoption Leave For Employees
Standard Chartered Bank, a prominent British financial institution, has recently introduced an extensive 20-week paternity and adoption leave policy for its employees across the globe, signaling its strong commitment to fostering inclusivity and family support.
The bank's new policy grants employees the opportunity to take a 20-week leave for paternity or adoption purposes, irrespective of their gender, relationship status, or the method by which a child becomes a part of their family. This move is a significant step towards creating a more inclusive work environment that values diverse family structures and needs.
In India, where the statutory requirement for maternity leave stands at 26 weeks, Standard Chartered's enhanced leave policy showcases its progressive approach to providing comprehensive support to its employees during important life transitions. The bank acknowledges the unique needs of its workforce and seeks to ensure that family responsibilities are shared more equitably between employees, regardless of their gender.
With a global workforce of approximately 83,000 employees, Standard Chartered is a prominent player in the financial sector. India, with around 30,000 employees, including 20,000 males, constitutes a significant portion of the bank's workforce. By extending an enhanced paternity and adoption leave benefit effective from 1 September, the bank is proactively encouraging its employees to take an active role in caregiving responsibilities, contributing to a more balanced work-life integration.
Tanuj Kapilashrami, the group head of human resources at Standard Chartered, highlighted the positive impact of this initiative on the financial wellbeing of families and underscored its role in creating a more inclusive and supportive workplace culture. The bank's focus on embracing diverse family planning choices and providing comprehensive support during significant life events reflects its commitment to being a progressive and employee-centric organization.
Standard Chartered's presence in India spans over 160 years, and it boasts a network of 100 branches across 42 cities, offering a wide array of financial services, including corporate, commercial, institutional banking, as well as consumer, private, and business banking. This long-standing presence in the country, coupled with its forward-thinking approach to employee benefits, solidifies Standard Chartered's position as a leading employer that values its workforce's wellbeing and diverse needs.
