Standard Chartered Bank has introduced 20-week paid parental leave for its employees to put forward the philosophy that child rearing is a responsibility for both parents to share.
The objective is to help parents of the newborns rear a new generation of talents for running future businesses, says the company's management.
In offering the benefit, the multinational bank has accommodated all options that one could think of to be inclusive and to ensure equality. All parents, irrespective of gender and relationship status, will be entitled to the benefit.
Parents, who would get a child through surrogacy or adoption or any other means, would also enjoy the facility, said Khairun N. Haque, country head of the Human Resource Division of the SCB, Bangladesh.
In an interview with the FE, she shared her insights on how diversity, equity and inclusion (DEI) are shaping today's workplace at the SCB in the context of changing socioeconomic milieu.
"We have developed approaches through DEI to make SCB the best place for attracting best talents," she said about the latter-day management concept.
She expressed the hope that other banks and corporate companies would follow in the footstep of the SCB for building a new generation.
"This new benefit would boost employees' commitment to work as well as their productivity," added Ms Haque.
The leave offer was brought into effect on August 31. The HR chief, however, said the employees, who became new parent last month, would be eligible to enjoy the 20-week leave.
Earlier, the SCB offered two weeks' paternity leave. Maternity leave for six months with full payment would remain unchanged.
Ms Haque pointed out that continued brain drain from Bangladesh had enhanced employers' challenges to find talents for corporate jobs in the private sector.
"It's true that some resources are scarce in the market. Fresh graduates have preferences to work in sectors, other than the banking industry, for they have multiple technological skills."
In the era of gig economy, new generations have numerous options as they are tech-savvy and involved in several gigs, said the HR chief. "Future talent force would have passion for many [high-tech] things. Now our efforts would be to capitalize on their passion.
"When the SCB has exchanged views on this new policy with new graduates, they became excited. This generation gets attracted to corporate strategies aligned with lifestyle values," said Ms Haque drawing attention to modern-day employer-employee bonding.
The SCB management also provides day-care facilities where all costs are borne by the bank itself, and both father and mother can avail of the facility. The bank is also providing mental-health support to its employees to manage workplace pressure, develop their resilience and boost their capacity to cope with stress.
"We have a buddy group to cheer up new mothers after their return from maternity leave."
The SCB has been offering pilgrimage leave, too, for people of all religions.
"The bank is adopting such strategies to find how it can transform HR policies acknowledging the multiple interests of future talents and how it can cater to their interests," said Ms Haque.
Striving to ensure diversity and inclusiveness, the SCB increased women representation at both entry and decision-making levels.
Female employees represent 26 per cent of the total workforce of the SCB while the overall banking industry in Bangladesh has, on average, 16 per cent women employees.
Participation of women in decision-making positions helps new recruits discover role models, and they feel inspired to stay in such an organisation where women leadership is encouraged, said Ms Haque.
She recounted SCB's support to employees during the pandemic by way of providing risk allowances, medical insurance, transportation and home-office facilitates. As per regulators, SCB has resumed in-person office.
However, about 75 per cent of the SCB employees worldwide are working in a hybrid model, which allows flexible duty roster. The organisation may consider aligning its policies in future with technological changes and market demands.
Ms Haque said a majority of the employees, 70 per cent to be specific, of the SCB are millennial, in 25-40 age group, while GenZ (nineteen to 24 age group) are in the next highest.
Considering the possibility of frictions or misunderstanding between the age groups, the SCB has launched programmes, such as debates, panel discussions and cooking events, to bridge the gaps.
Ms Haque said the SCB HR wing had policies to offer equal opportunities for people with disability and from the transgender community.
Some 25 employees with different types of disability and neurological challenges are working in the SCB.
"I had a colleague with disability who could only move his fingers and have to work in a wheelchair with the assistance of another person. He was one of the best performers in HR, too, but the SCB lost him some years back and that was a huge loss for us."
Some of the existing skill-sets would be obsolete in future. So, the SCB has inculcated lifelong learning culture on data, cyber-security and other technological issues.
"We have found some of mid-level female employees being compelled to leave the profession." The SBC has networking sessions to groom up such employees, irrespective of gender.
Under a programme, the bank has readied 100 female leaders for higher responsibilities.
A decade ago, the SCB had only one female official, Bitopi Das Chowdhury, who is now head of corporate affairs, brand and marketing, in the decision-making position. The number has grown to 23 per cent of the workforce.
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