Scotia increases paid parental leave for staff members

Scotiabank employees who are new parents are now eligible for more leave time to fully focus on their well-being and that of their newborns. This follows the annual observation of International Women's Day, which is dedicated globally to promoting equity for women, including those who are parents.

Under the new version of the policy, paid maternity leave will now be increased from 14 weeks to 16 weeks. Additionally, paid paternity leave will be extended from four weeks to eight weeks.

"This increased duration acknowledges the important role of fathers in welcoming and nurturing their infants during their early stages of development. The policy also makes provisions for foster and adoptive parents," Scotiabank said.

The bank also said its revised parental leave policy aims to provide enhanced support for new parents within the organisation, facilitating a more positive work-life balance.

"At Scotiabank, we recognise the importance of offering inclusive benefits that cater to the diverse needs of our workforce. Our enhanced parental leave policy is a testament to our commitment to inclusivity, championing work-life balance, and supporting new parents through this significant chapter in their lives," Sheila Segree-White, vice-president, human resources, said.

Sarah Cumming, who recently gave birth to her second child, hailed the new allowances.

"The enhanced maternity leave policy allowed me to benefit from the experience of watching my baby develop new skills such as holding her head, pushing up on her tummy and even rolling from her belly to back. Having the opportunity to be present with my baby through these development milestones, and the added time to recover from the initial introduction of a new addition to the family, was priceless and made my transition back to work more comfortable," she shared.