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HSBC has strengthened its reputation as a family friendly employer by enhancing its maternity and paternity benefits.
Effective May 1, paternity leave for the bank’s staff will be raised from the current one week to two weeks.
In addition, fully paid maternity leave entitlement will be increased from 12 weeks to 14 weeks, according to a notice posted on the bank’s intranet.
Furthermore, HSBC will also extend equivalent benefits to primary adopters for employees who choose to adopt a child.
The primary adopter, irrespective of gender, will be entitled to 14 weeks of leave, up from the current 12 weeks.
“Welcoming a new family member is an exciting but often overwhelming experience. By enhancing our leave entitlements, we hope to lend as much support as we could to colleagues who are becoming parents,” said Diana Cesar, chief executive, Hong Kong.
The bank also has in place a flexible return policy, which allows new parents, irrespective of gender, to return to work on a reduced-hour basis following their maternity or paternity leave.
Taking care of the aging workforce is also a priority for HSBC – the bank will remove the policy restriction on employing staff over age 65.
Employment beyond age 60 continues to be subject to mutual agreement, for staff who choose to make the most out of their productive lives. Fixed term contracts remain as the employment terms for post-retirement employment.
“At HSBC, we believe that it is important to foster an environment that enables our colleagues to succeed, irrespective of their life stages. In fact, the majority of our staff benefits are above market. This is about doing the right thing for our colleagues and supporting each other throughout our career and life journeys,” added Cesar.