Bank of New York Mellon has expanded its global parental leave policy to offer new parents 16 weeks of paid leave.
Employees at the investment bank who foster, adopt or are involved in surrogacies will be able to choose between taking the leave continuously or at different times within a 12-month period.
Introduced in the first quarter of this year, the enhanced offering now applies to all BNY Mellon’s global offices. In India, this will mean that birth mothers will still receive 26 weeks’ paid maternity leave but the policy now also allows other parents to have 16 weeks of paid leave.
The company, which boosts a presence in six continents and in 35 countries, has introduced its new policy as part of a number of enhancements to its support offering for families. This includes caregiver leave for those with unplanned family care responsibilities, two weeks working from certain locations under its “work from anywhere” policy and extra bereavement leave.
Yash Mohan, Head of HR – APAC, BNY Mellon, explained: “Our new parent leave policy aligns with our philosophy to deliver benefits and wellbeing programmes that ‘meet you in your life moments’. This will help parents balance the demands of a career and family while navigating work in a hybrid environment. It will also ensure fair and equal treatment of all employees when a new child arrives, supporting shared parental responsibilities.”
In addition to the enhanced policy, the bank offers a talent and development framework which enables staff to access training and development opportunities. It also has a wellbeing programme to help employees maintain and improve their physical, mental and financial health.
The company’s flexible benefits package gives people the opportunity to tailor perks to their personal circumstances. This includes options such as health screening, medical insurance, pension, employee assistance programme life assurance, fitness discount programme, digital wellbeing app on-site childcare and a parental buddy programme.