Scotiabank enhances parental leave policy
New version provides 16 fully paid weeks for mothers and 8 fully paid weeks for fathers
SCOTIABANK EMPLOYEES who are new parents are now eligible for more leave time to fully focus on their well-being and that of their newborns. This follows the annual observation of International Women’s Day on March 8, which is dedicated globally to promoting equity for women, including those who are parents.
Under the new version of the policy, paid maternity leave will now be increased from 14 weeks to 16 weeks. Additionally, paid paternity leave will be extended from four weeks to eight weeks. The increased duration acknowledges the important role of fathers in welcoming and nurturing their infants during their early stages of development. The policy also makes provisions for foster and adoptive parents.
A release to the media notes that ‘the bank’s revised parental leave policy aims to provide enhanced support for new parents within the organisation, facilitating a more positive work-life balance. This is in line with Scotiabank’s commitment to creating a “great place to work”. The allowances were previously increased in 2022 with a raft of expanded benefits for new parents.
Sheila Segree-White, vice president, human resources, noted the bank’s dedication to promoting employee well-being. “At Scotiabank, we recognise the importance of offering inclusive benefits that cater to the diverse needs of our workforce. Our enhanced parental leave policy is a testament to our commitment to inclusivity, championing work-life balance and supporting new parents through this significant chapter in their lives.”
Sarah Cumming, who recently gave birth to her second child, welcomed the new allowances. “The enhanced maternity leave policy allowed me to benefit from the experience of watching my baby develop new skills such as holding her head, pushing up on her tummy and even rolling from her belly to back. Having the opportunity to be present with my baby through these development milestones and the added time to recover from the initial introduction of a new addition to the family was priceless and made my transition back to work more comfortable,” she shared.
Paolo Fakhourie, a recent beneficiary of the previous iteration of the policy also had high praises for his employer for the added considerations. “Being a new father, being able to spend the first month with my newborn child was instrumental in forming that crucial bond as a parent with my son. I was able to be integral in his day-to-day care and got to ease into my new role as a parent. Thanks to Scotiabank for this great initiative!” Fakhourie said.
“At Scotiabank, we recognise the importance of offering inclusive benefits that cater to the diverse needs of our workforce. Our enhanced parental leave policy is a testament to our commitment to inclusivity