Scotiabank is introducing a program that will allow benefits-eligible Canadian employees to purchase up to five additional personal days.
The program is effective April 1, 2021, which marks the beginning of the bank’s benefits plan year. Employees can use their flex credits during benefits enrolment to purchase the additional days.
The latest benefit is in addition to significant changes to Scotiabank’s personal days provision over the past year. On Jan. 1, 2020, it increased its total paid personal days per employee from three to five days a year. And during the coronavirus pandemic, it provided all employees with five extra paid personal days as a temporary measure.
Read: Scotiabank adds extra paid personal days to support employee well-being
“As of next year, when people enrol in the benefits plan, they can use their benefits credits toward buying up to five more personal days,” says Ayman Alvi, director of global benefits at Scotiabank. “If they need it, they’ll have that ability to buy some extra flexibility beyond what they already have.”
The bank has a very large population, which inherently makes it very diverse, he adds, noting that trying to make the benefits plan fit diverse needs is important for mental well-being. “Really, [it’s about] trying to ensure our overall benefits package is covering as many parts of the spectrum as we can and providing support in the most flexible way as possible.”
Read: Scotiabank awarded for adapting benefits in face of coronavirus