HSBC Singapore and Deutsche Bank announced increasing the parental leave benefits of their employees to advocate for employees’ mental health and work-life balance.
HSBC Singapore has increased its parental leave policies, extending maternity leave to 26 weeks and paternity leave to eight weeks, effective 1 September 2023.
According to Mukul Anand, Head of HR, HSBC Singapore, “At HSBC, we are committed to creating an inclusive environment for our people and to provide them with the support they need throughout this exciting and important phase of parenthood”.
Deutsche Bank has updated its parental leave policy for the Asia Pacific region, allowing permanent employees to dedicate meaningful time to their families and personal wellbeing. The policy, effective from 1 August 2023, offers up to 26 weeks’ paid leave for primary caregivers of newborns or adopted children, as well as paid leave in the event of a miscarriage.
Amrita Mohanty, Head of Wellbeing and Benefits, Deutsche Bank, Asia Pacific explained that the wellbeing of their employees is their top priority.
“At Deutsche Bank, we are committed to continuing to foster a culture of inclusivity and supporting our employees throughout their life milestones. With our new newly enhanced parental leave benefits, we hope to empower our colleagues to focus on their families and themselves, during what is a very important time in their lives.”
Banking is one of the most demanding industries out there and the steps taken by HSBC & Deutsche showed commitment to their employees’ wellbeing.
