Union Bank has introduced an enhanced five-month maternity leave policy and an on-site crèche facility, aiming to support work-life balance for both male and female employees. This development, disclosed in a recent statement provided to The PUNCH, extends benefits for working parents and sets a new standard in Nigeria’s banking sector.
While the Nigerian Labour Act mandates 12 weeks of maternity leave, Union Bank’s extended policy grants mothers additional time to bond with their newborns, with the option to combine this leave with annual vacation days. The policy aligns with Sustainable Development Goal (SDG) 3: good health and well-being, allowing mothers to prioritize recovery and family health. Additionally, returning mothers will receive a one-hour late resumption period during their first month back at work, easing their transition and promoting work-life integration.
Chief Talent Officer Omayuli Wale-Ajayi commented on the initiative, saying, “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 children of both male and female full-time employees. Our commitment is to create a workplace where women can thrive. 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.”
The on-site crèche, set to launch a pilot program at the head office in December 2024, will feature family-friendly amenities, including lactation rooms, providing a supportive childcare environment for working parents, particularly mothers. This initiative supports SDG 5: Gender Equality, empowering women to balance professional duties with childcare needs and enhancing retention of female talent within the bank.
Union Bank emphasized that these innovative policies position it as a progressive employer in the financial sector. By fostering gender diversity, the bank also contributes to broader economic growth, noting research that gender parity could boost global GDP by 26 percent.
