Standard Chartered is rolling out enhanced global parental leave benefits, effective Sept. 1.
The bank is standardizing the amount of parental leave it offers, providing parents with the option of undertaking more equitable caregiving responsibilities for their children. With the enhanced benefits, all 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.
According to a press release, the enhanced benefits are part of the Standard Chartered’s commitment to fostering an inclusive culture, where employees are supported in balancing their personal lives with building successful careers.
“We continuously look at how we can introduce progressive benefits that drive inclusion, improve the employee experience and help colleagues achieve their potential,” said Tanuj Kapilashrami, the bank’s group head of human resources, in the release. “We believe benefits such as this help address globally prevalent societal norms around traditional roles, improve workforce participation and provide options to those who want to take up shared childcare responsibilities.
“This will positively impact families’ financial well-being and create a more inclusive workplace that supports each individual’s unique family planning choices. We hope that our actions inspire other employers — across industries, around the world — to take similar actions. If we take a stand together, we can build a movement that creates a more inclusive society.”