Precious moments as bank stretches maternity leave to 20 weeks

HSBC staff who welcome precious new members of the family will enjoy more time with their infants as the bank is from January 1 extending maternity leave to 20 weeks and paternity leave to 40 days.

HSBC's move - following a similar initiative by Standard Chartered Bank - could have a ripple effect among major enterprises.

The HSBC changes - from the current 16 weeks for moms and 10 days for dads - aim to help staff strike a better work-life balance so they can "not only achieve their professional goals but also prioritize the well-being of their families and personal lives," managers say.

Full-time HSBC employees in Hong Kong will also enjoy longer leave with full pay from New Year's Day.

"At present, HSBC Hong Kong has around 20,000 employees, and about 52 percent of the bank's workforce in Hong Kong are women," a statement from the bank noted.

The bank also announced it will from January 1 extend personal or caregiving time for every employee from two hours to four hours per month so they have more time to take care of family members, themselves and carry out personal development and learning activities.

Other paid leave arrangements by HSBC include one-day birthday leave, six days of marriage leave and five of compassionate leave.

"We are increasingly hearing from colleagues that they want to flex their hours to take on a greater responsibility in caring for their families," HSBC Hong Kong chief executive Luanne Lim Hui-hung said.

"As a family-friendly employer we strive to cultivate a supportive and inclusive work environment that prioritizes the well-being of our employees and their loved ones. We strongly believe that when our employees feel supported it positively impacts their engagement and productivity."

Hang Seng Bank, a subsidiary of HSBC, announced the same arrangements yesterday.

Employees are important assets of the bank, Hang Seng said, adding it cares about its workers and communication among them and will review its welfare policy from time to time to provide a healthy and balanced working environment.

HSBC acted months after Standard Chartered Bank in September increased paternity leave and adoption leave from two weeks to 20 weeks.

Standard Chartered had extended maternity leave to 20 weeks from 12 weeks in 2017 and allowed workers to work flexible hours for family needs.

Currently, Hong Kong working mothers and civil servants are entitled to 14 weeks of statutory maternity leave, but fathers have only five days off with pay.

Director of human resources firm Watson Consultancy Suen Lap-man told The Standard that more large-scale enterprises will increase maternity and paternity leaves.

"It will become a trend among major enterprises, but it will be difficult for medium- and small-sized companies to do the same as they may not have sufficient manpower to allow longer leave," Suen said. And small companies are facing difficulties recruiting staff.

"Finance companies may be able to offer longer maternity and paternity leaves for their employees, but it would be difficult for the catering sector due to its lack of manpower," Suen added.

"The IT sector may be able to extend leaves as well because personnel can work from home."

The Labor Department said it welcomes employers offering benefits more favorable than the statutory requirement.

And the vice chair of the Hong Kong Women Development Association, Au Yeung Po-chun, said a longer maternity leave will definitely help, but medium- and small-sized companies will not be able to afford it.

wallis.wang@singtaonewscorp.com