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Maybank offers staff more maternity, sabbatical leave

SINGAPORE — From July 1, Maybank employees in Singapore will be entitled to a range of enhanced parenthood and sabbatical leave benefits, the bank announced on Thursday (June 1).

Under the enhanced maternity leave policy, eligible Maybank female employees can extend their maternity leave for up to a year. TODAY File Photo

Under the enhanced maternity leave policy, eligible Maybank female employees can extend their maternity leave for up to a year. TODAY File Photo

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SINGAPORE — From July 1, Maybank employees in Singapore will be entitled to a range of enhanced parenthood and sabbatical leave benefits, the bank announced on Thursday (June 1).

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.

With 60 per cent of its workforce being women, “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”, said Mr Wong Keng Fye, head of human capital at Maybank Singapore in a statement.

Moreover, Maybank employees will be able to take advantage of parental and childcare leave, regardless of the nationality of their child. Under guidelines issued by the Ministry of Manpower, mothers of non-Singaporean children are only entitled to 12 weeks instead of the full 16 weeks of paid maternity leave.

Male employees will continue to get two calendar weeks of paid paternity leave, regardless of the nationality of their child.

In April, Standard Chartered Bank implemented a 20-week paid maternity leave scheme for its employees, which also extended to mothers who adopt and all employees of the bank regardless of their length of service.

Singapore’s Manpower Ministry currently mandates that eligible adoptive mothers are entitled to four weeks of Government-funded adoption leave.

At DBS, the bank’s parenthood leave policy follows the national guidelines.

However, the bank has additional pro-family incentives which include nursing rooms in the office for breastfeeding mothers and baby bonus payouts of S$1,200 to all female employees and married male employees for each newborn/adopted newborn.

Maybank will also offer its employees who want to take a career break the option of applying for sabbatical leave of between two and 24 months, the bank said.

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.

“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 further their studies to help them stay employable,” said Mr Wong.

Maybank also offers flexible and part-time work arrangements for employees who need help juggling between work and family commitments, or who are pursuing part-time studies.

According to the bank, its staff retention rate is “consistently above industry and national statistics”, and half its 1,800 employees have at least five years of service with the organisation.

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