Fostering an inclusive work environment at HSBC Singapore
To improve the wellbeing of its employees and their families, HSBC Singapore has announced enhancements to its parental leave policies.
With effect from 1 September 2023, maternity leave for employees will be extended from 16 weeks to 26 weeks, while fathers will be granted eight weeks of leave, up from the current two weeks.
Mukul Anand, Head of HR at HSBC Singapore, explained, “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. With the ever-changing needs of our workforce, we must continue to review and enhance our policies to ensure that we are building an inclusive workplace where our employees can thrive at home and at work.”
In an effort to improve work-life balance for working parents in Singapore, the government announced earlier this year that working fathers of Singaporean children born on or after 1 January 2024 are entitled to four weeks of government-paid paternity leave, up from the previous two weeks.
Employers are encouraged to voluntarily grant the extra leave and be reimbursed, while plans are in the pipeline to make the addition of the two weeks of paternity leave mandatory.
From 1 January 2024, parents of children can also claim 12 days of unpaid infant care leave for their child’s first two years, provided they have worked with their employer for a continuous period of at least three months.