Standard Chartered, a global banking firm, has announced 20 weeks of paid parental leave to their employees, effective from September 1, 2023.
“The new childcare policy will be available to new parents irrespective of gender, relationship status, or how a child comes to permanently join an employee’s family”, stated the banking firm in an official announcement on August 30, 2023.
As part of fostering an inclusive work culture at StanChart, the new parental policy will assist employees in achieving a balance between their personal lives and their careers as they welcome a child.
Tanuj Kapilashrami, Group Head, Human Resources, Standard Chartered, said: “We continuously look at how we can introduce progressive benefits that drive inclusion, improve the employee experience, and help colleagues achieve their potential. We hope that our actions inspire other employers, across industries, and around the world, to take similar actions. If we take a stand together, we can build a movement that creates a more inclusive society.”
Shivshanker S V, HR Head of StanChart India and South Asia, said, "We believe benefits such as this help address globally prevalent societal norms around traditional roles, improve workforce participation and provide options to those who want to take up shared childcare responsibilities. This will positively impact families’ financial well-being and create a more inclusive workplace that supports each individual’s unique family planning choices."