Starting this month, male employees of Access Bank Plc can take advantage of an enhanced parental leave policy that extends paid benefits to all mothers and fathers. Fostering an inclusive workplace, the policy offers paid leave to all new parents at the bank including mothers and fathers, as well as adoptive and surrogate parents.
The new policy, which is the first by a Nigerian bank, offers one week fully paid paternity leave to male employees and allows them to care for their offspring and spend some quality time with the new addition to their family while supporting the new mother who needs the break. Also included in the new policy is a surrogacy or adoptive leave with full pay for three calendar months for female employees of the bank.
These benefits supplement the 12 weeks of paid leave Access Bank currently provides to birth mothers. The policy also complements the bank’s existing health and flexible workplace benefits, which support work-life balance.
Head, Group Human Resources, Bolaji Agbede, said paid parental leave allows parents to truly bond with their new child, balance their work schedule and help reduce conflict with parental obligations.
“Studies have shown that fathers who take paternity leave are more likely to take an active role in child care tasks and will continue to play this role long after the period of leave has ended. It is important for the new father to take time off as it helps all parents, regardless of family structure. This new policy is an evidence of the bank’s support to employees during this wonderful but challenging time in their lives,” she added.
Furthermore, a pregnant employee who has been in the bank’s employment for 12 consecutive months also has the option of six calendar months maternity leave with two-thirds of full month pay, while the surrogacy or adoptive leave period is three calendar months with full pay or six calendar months leave with two-thirds of full month pay.
Over the years, Access Bank has consolidated its position as a top financial institution in the Nigerian league of banks and a leading brand in the African financial space. The bank operates with an ambitious vision and clear mission, which dictates all of its business strategies.