HSBC enhances employee benefits with extended paid maternity and paternity leave in 2024

539
Picture for illustration purpose only.

7th December 2023 – (Hong Kong) HSBC has announced new leave arrangements for its employees in Hong Kong, set to take effect from 1st January, 2024. Full-time employees will see an increase in paid maternity leave from 16 weeks to 20 weeks, while paid paternity leave will be extended from 10 days to 40 days. These changes aim to help employees strike a balance between work, family, and personal life.

With approximately 20,000 employees in Hong Kong, HSBC recognizes that many of them have responsibilities as caregivers for their families. The new arrangements will provide more time for working parents to spend with their newborns.

In addition, starting from January 1, 2024, HSBC employees will also have the option to request an additional four hours of personal/carer’s time per month (up from the current two hours). This increased flexibility will allow employees to better manage their personal responsibilities, such as caring for family members, handling personal matters, or pursuing further education. Other paid leaves offered by HSBC include one day of birthday leave, six days of marriage leave, five days of bereavement leave, two days of voluntary work leave, and four days of examination leave, among others.

Luanne Lim, CEO of HSBC Hong Kong, highlighted the fact that many employees shoulder the responsibility of caring for their families. By optimizing the allocation of flexible working hours, HSBC aims to cultivate a people-centric, diverse, and inclusive corporate culture. The bank believes that when employees feel supported, they become more engaged in their work, leading to increased efficiency.