NatWest has taken another step to bolster employee equality by introducing new Partner Leave policies, which are way above industry standards.
NatWest is giving its male bankers a whole year off when they become fathers in a drive to position itself as more family-friendly.
From January 2023, the retail banking and financial services giant will introduce a policy that allows all new parents to take a year off regardless of gender, of which half will be fully paid.
The new Partner Leave policies will replace existing Paternity Leave policies in the UK, Guernsey, Jersey, Gibraltar, Republic of Ireland, India and Poland.
While equal paid parental leave policies are becoming increasingly common as organisations adopt ways to prove they are a diverse, equitable and inclusive employer, NatWest is the first to offer fathers a whole year off.
They have introduced market-leading support for eligible fathers/partners of mothers and other new parents, whether the child has arrived through birth, adoption, or surrogacy.
Previously, NatWest offered men two weeks of statutory paternity leave on full pay. Chief Executive Alison Rose hopes this shift in policy is: “Not only is this good for families, but it also helps support wider cultural change by promoting a shared approach to childcare responsibilities early on.
“We want to do more to help families thrive. The introduction of Partner Leave will make it possible for colleagues to spend more time supporting their partners who have given birth, had a child born through surrogacy or had a child placed through adoption.”
NatWest’s new Partner Leave policies are its latest move away from the traditional stuffy image of banking to bolster diversity, equity, and inclusion within the firm.
In the summer, it said it would pay for transgender staff to get privately funded hormone treatment and also launched the 100 Female Entrepreneurs to Watch list. Earlier this year introduced pronouns and phonetic names spellings on bamboo branch badges.