Bank of London and the Middle East has launched an enhanced and flexible maternity leave benefit to provide new mothers with different options to suit their personal preferences.
As part of its recognition that not all women want the same provision, the bank’s policy outlines four different possible options for staff to choose from to allow maximum flexibility and support.
These include a base enhanced maternity leave provision of 40 weeks fully paid, plus the option to add annual leave and additional supportive leave, which is available for employees with at least 26 weeks of continuous service at the 15th week before the expected week of childbirth, and are still employed during that time.
Other options include offering the choice to remain on fully-paid maternity leave for one year while utilising accrued leave and other eligible paid time off, or a supportive return phase for 12 weeks where staff are fully paid but only required to work three days per week. Employees can also choose a return-to-work bonus after six months of resuming regular working arrangements.
As part of its commitment to enhancing parental leave, the bank’s male staff will be able to take four weeks of fully-paid paternity leave, which is double the amount employers are required to offer by law.
The new policy is intended to minimise the impact of having a baby on female employees’ career trajectory, confidence, and earning potential, by removing barriers that male employees are unlikely to face.
Andrew Ball, chief executive officer at Bank of London and the Middle East, said: “At a moment when rising childcare costs are causing anxiety to expectant mothers across the country, we’re taking real action to ensure we remain a progressive and family-friendly workplace and support women back into the workforce. We believe that maternity matters, and so we’re significantly increasing our maternity leave offer to employees. Our policies will advance gender equality in the workplace, by supporting parents with professional careers to return to work and prosper in their roles.”
