Union Bank has once again demonstrated its commitment to employee welfare by launching a pioneering maternity support initiative, setting new standards within Nigeria’s financial sector.
The bank now offers an extended five-month fully paid maternity leave, exclusive of annual leave, to all new mothers among its full-time employees. Additionally, an on-site crèche facility, available to all full-time employees, both male and female, will be launched at Union bank’s headquarters in December 2024. This trailblazing initiative not only exceeds industry standards but also aligns with Union Bank’s commitment to Sustainable Development Goals (SDGs), specifically SDG 3 on Good Health and Well-being and SDG 5 on Gender Equality.
Nigeria’s Labour Act mandates 12 weeks of maternity leave for new mothers, yet Union Bank’s five-month leave policy allows mothers significantly more time to bond with their newborns and prioritize their health. This policy also grants returning mothers an additional hour in the mornings during the first month back at work, enabling a gradual transition and easing the balance between work and home life.
As part of its family-friendly initiatives, Union Bank is introducing an on-site crèche pilot program, complete with lactation rooms and childcare facilities, to meet the needs of working parents. According to Omayuli Wale-Ajayi, Union Bank’s Chief Talent Officer, “At Union Bank, we are proud to set a new standard in the banking sector with comprehensive maternity leave for working mothers and crèche facilities for the babies of both male and female full-time employees.
We are committed to creating a workplace where women can thrive, and these initiatives are crucial in supporting working mothers as they balance their careers and personal lives. By providing five months of fully paid maternity leave and convenient childcare solutions, we aim to retain and empower top talent, ensuring all employees can contribute to the bank’s success.”
Research shows that increased gender parity in the workforce is not only beneficial to individuals but can boost global GDP by up to 26%. Union Bank’s bold approach, focused on employee inclusivity and gender equality, exemplifies how financial institutions can foster progressive workplace cultures that support economic growth while meeting the evolving needs of their workforce.
Union Bank of Nigeria Plc., established in 1917 and listed on the Nigerian Stock Exchange in 1971, has remained a trusted and respected institution, with over 300 branches across Nigeria. The bank offers a range of services for individual and corporate clients, including savings, loans, trade finance, and electronic banking options. For more details, visit www.unionbankng.com.
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Read more about this groundbreaking initiative on Fasnewsng.com for comprehensive coverage on how Union Bank is setting a high bar for employee welfare within Nigeria’s financial sector.
By Lekan Olofinsusi