BNY Mellon enhances parental leave benefits

BNY Mellon, a global financial services company, has introduced enhancements to its family support offerings, which include a new policy providing inclusive leave for new parents worldwide, including those in India. The new policy provides a minimum of 16 weeks of paid leave, which can be taken either continuously or in one-week increments within 12 months of the child’s birth or adoption, regardless of the circumstances. Birth mothers in India will still receive 26 weeks of paid maternity leave, while all other parents will receive 16 weeks of paid leave.

The company’s existing family-friendly policies, such as caregiver leave, two weeks of ‘work from anywhere’, and enhanced bereavement leave, complement the new policy. These policies have been in effect since the first quarter of 2023 and are applicable in all BNY Mellon offices globally.

According to Yash Mohan, head of HR, Asia-Pacific region, BNY Mellon, the new policy reflects the company’s commitment to delivering benefits and wellness programs that support employees during important life moments. The policy aims to help parents balance their work and family responsibilities in a hybrid work environment and ensure that all employees receive fair and equal treatment when a new child arrives.

Established in 1784, BNY Mellon is the oldest bank in the US and was the first company to be listed on the New York Stock Exchange (NYSE: BK).The bank offers comprehensive solutions to clients around the world, helping them manage and service their financial assets throughout the investment life cycle. 

As of 31 March 2023, BNY Mellon has $46.6 trillion in assets under custody and/or administration and $1.9 trillion in assets under management. It has received recognition from Fortune’s World’s Most Admired Companies and Fast Company’s Best Workplaces for Innovators.