Banking organisation HSBC has extended its parental leave benefits for Hong Kong-based staff to foster a family-friendly and inclusive culture.
From 1 January 2024, maternity leave for full-time employees will increase from 16 to 20 weeks, while paternity, or secondary caregiver, leave will rise from 10 to 40 days. Both will continue to be fully paid.
In addition, HSBC will extend its personal and caregiving time from two to four hours per month from next year to enable employees to fulfil caring responsibilities, self-care, personal development and learning activities.
Under the new arrangement, working parents at HSBC in Hong Kong will have more time to welcome and enjoy the arrival of a new family member. According to the organisation, it wants to empower employees to achieve their professional goals and also prioritise the wellbeing of their families and personal lives.
HSBC Hong Kong has around 20,000 employees, and about 52% of the bank’s workforce in the region are women. It also offers other categories of paid leave, such as one day of birthday leave, six days of marriage leave, five days of compassionate leave, two days of volunteer leave and four days of examination leave.
Luanne Lim, chief executive, Hong Kong, at HSBC, said: “We are increasingly hearing from colleagues that they want to flex their hours to take on a greater responsibility in caring for their families. As a family-friendly employer, we strive to cultivate a supportive and inclusive work environment that prioritises the wellbeing of our employees and their loved ones. We strongly believe that when our employees feel supported, it positively impacts their engagement and productivity.”