Standard Chartered has unveiled has enhanced its paternity and adoption leave benefits, with effect from 1 September, 2023. This initiative reflects the bank’s commitment to promoting equitable parenting responsibilities among its employees, irrespective of gender, relationship status, or the circumstances under which a child becomes a permanent part of an employee’s family.
Under these progressive enhancements, employees will have the opportunity to avail up to 20 weeks of paid paternity and adoption leave. This groundbreaking policy underscores the Bank’s dedication to cultivating an inclusive work environment that empowers employees to effectively balance their personal lives with their professional aspirations.
In accordance with legal stipulations, maternity benefits for Standard Chartered employees in India will remain 26 weeks.
Tanuj Kapilashrami, group head – HR, Standard Chartered, emphasised the bank’s ongoing commitment to introducing forward-looking benefits that bolster inclusion, elevate employee experience, and facilitate individual growth. He further noted that such benefits play a pivotal role in challenging prevailing global norms surrounding traditional gender roles. By enhancing workforce engagement and offering the choice to embrace shared childcare responsibilities, this policy is poised to enhance both financial well-being and workplace inclusivity.
Shivshanker SV, head of HR for India and South Asia at Standard Chartered, stated the bank’s determination to create an environment that is not only equitable but also supports employees in cherishing the joys of parenting. He expressed that this enhancement in paternity and adoption leave to 20 weeks underscores the Bank’s commitment to adapting its practices to the evolving needs of its diverse workforce. This will enable employees to nurture their parenting obligations while maintaining their professional trajectory in a nurturing and colleague-centric atmosphere.
These parental benefits represent just one facet of the comprehensive support that Standard Chartered extends to its employees. In conjunction with its array of progressive employee policies, these enhancements will undoubtedly catalyse positive and forward-looking outcomes for employees, making the inclusive environment an exceptional workplace for those embracing parenthood.
Sachin Gupte, global head of HR, Standard Chartered Global Business Services, noted that such policies stand as a critical element in the Bank’s talent proposition, particularly given its youthful employee demographic.
