Maybank announces enhanced parenthood and sabbatical leave for employees in Singapore
1 June 2017
Mothers can go on maternity leave for up to a year and employees can apply for sabbatical leave of up to two years.
Maybank today announced a range of enhanced parenthood and sabbatical leave benefits for its employees in Singapore, effective from 1 July 2017. In addition, all employees who are parents will enjoy parental and childcare leave, regardless of the nationality of their child. The enhanced leave policies are part of Maybank’s on-going efforts to foster an inclusive and supportive workplace for all its employees.
Extension of maternity leave for up to a year
Under the enhanced maternity leave policy, eligible female employees can extend their maternity leave for up to a year. In addition to the existing 16 weeks’ maternity leave with full pay, mothers can apply for additional maternity leave of two months with half-pay, and a further six months with no pay.
“This is a natural step for us as an employer committed to standing by our employees as they progress through life and its evolving demands,” said Mr Wong Keng Fye, Head of Human Capital, Maybank Singapore. “This will hopefully help them to ease into parenthood, and give them time to find a good balance between their family and work commitments by the time they return.”
Sabbatical leave of between 2 to 24 months
Maybank employees in Singapore who want to take a career break can apply for sabbatical leave with no pay for 2 to 24 months. Eligible employees who go on sabbatical leave will continue to enjoy certain benefits such as medical coverage and retain the opportunity to return to work in the bank after their leave.
41% of the Maybank’s 1,800 employees in Singapore are over 40 years old, reflecting a diverse hiring policy which does not discriminate by age. In addition, with a staff retention rate consistently above industry and national statistics, around half of the bank’s total employees here have been with the organisation for at least five years.
Mr Wong said, “Along the way, as our employees grow with us, we recognise that they may need to take some time out to recharge personally or professionally, or tend to family issues such as caregiving or procreation. This also supports lifelong learning, since they can use the time away to pick up new skills or to further their studies to help them stay employable.”
Maybank also offers flexible and part-time work arrangements for employees who need help juggling between work and family commitments, or who are pursuing their part-time studies.