StanChart introduces 20-week paid maternity leave

Standard Chartered head of human resource Florence Foo

KUALA LUMPUR: Standard Chartered Bank Malaysia (StanChart) has introduced a 20-week fully paid maternity leave, a first in the banking industry, while all employees benefit from ramped-up flexible working practice.

In a statement Friday, StanChart announced the enhanced employee benefits in line with Labour Day celebration. The bank said this was part of the bank’s focus to adapt to and support the changing requirements of the workforce.

“As a part of the bank’s family-friendly culture, it will be increasing fully-paid maternity leave for female employees to 20 calendar weeks, while male employees will enjoy two calendar weeks of paternity leave.

“New adoptive parents will also be entitled to a fully paid adoption leave of two calendar weeks. This is now extended to all employees of the Bank, regardless of length of service,” StanChart said.

Additionally, the bank was also ramping up its flexible working practices. It said employees were offered the option to work part time, choose flexible working hours, or work from home on selected days, subject to the nature of their roles and managers’ approval.

This flexibility and empowerment helps employees to meet their personal and professional goals best suited to their lifestyle and commitments.

“In our pursuit of becoming a human bank, StanChart commemorates Labour Day by placing importance on our people. We are always looking to strengthen our staff welfare, as well as to retain and groom talent,” head of human resource Florence Foo said.

“Internal studies carried out show that employee motivation has evolved, and that staff feel more motivated at work when they receive better support in the integration of their professional and personal lives. Both the Bank and our people stand to gain when we give them greater empowerment through initiatives such as a flexible-working arrangement.

“Women are key contributors to the bank’s business in Malaysia. 60% of the bank’s workforce are women and 22% of them are in management positions. We recognise the dual roles many of them have to play, and want them to succeed both at work and at home. We believe that fostering and building on a culture to help our people balance their personal and professional commitments will deliver strong benefits for both the bank and our employees,” Foo said.