HSBC Expands Workers’ Parental Leave Effective January 1, 2024

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Maternity off will be increased from 16 to 20 weeks beginning January 1, 2024, while paternity off (secondary carer) will be increased from 10 to 40 days. Furthermore, both leaves are still fully compensated.

Currently,  Hong Kong employs over 20,000 individuals, with women constituting around 52% of the bank’s Hong Kong workforce. In addition, according to the bank, the new arrangement would provide working parents more time to meet and enjoy the arrival of their newest family member.

Maternity off will be enhanced from 16 to 20 weeks beginning January 1, 2024, while paternity off (secondary carer) will be increased from 10 to 40 days. Both leaves continue to be fully reimbursed.

Related link: Maybank Singapore To Provide Better Paternity Leave Benefits

Currently, HSBC Hong Kong employs over 20,000 individuals, with women constituting around 52% of the bank’s Hong Kong workforce. Moreover, according to the bank, the new arrangement would provide working parents more time to meet and enjoy the arrival of their newest family member.

Furthermore, from January 1, 2024, personal / caregiving time will be increased from two to four hours per month to allow employees to satisfy caregiving tasks, self-care, personal development, and learning activities.

Other categories of paid leave offered by HSBC include:

• One day of birthday leave

• Six days of marriage leave

• Five days of compassionate leave

• Two days of volunteer leave

• Four days of examination 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,” said Luanne Lim, Chief Executive, Hong Kong at HSBC. As a family-friendly company, we seek to create a welcoming and inclusive workplace that prioritises the well-being of our workers and their families. We are certain that when our staff feel supported, it improves their engagement and productivity.”