By Ayomide Otitoju
Union Bank has introduced an industry-first initiative in Nigeria’s financial sector, offering comprehensive maternity leave and a new on-site crèche facility to support working parents. The new policy, which is available to both male and female full-time employees, underscores the bank’s commitment to gender equality and employee well-being.
The initiative includes five months of fully paid maternity leave, significantly surpassing the 12-week statutory requirement outlined in Nigeria’s Labour Act. This leave is separate from the employee’s annual leave, giving new mothers ample time to bond with their newborns and recover. In addition, returning mothers will benefit from a one-hour later start time during their first month back to ease the transition into work-life balance.
Union Bank also announced plans to launch an on-site crèche facility at its Head Office in December 2024. The crèche will feature family-friendly amenities such as lactation rooms, providing a convenient childcare solution for working parents.
“This groundbreaking initiative supports our goal of fostering an inclusive work environment where women can thrive,” said Omayuli Wale-Ajayi, Chief Talent Officer of Union Bank. “By offering extended maternity leave and childcare solutions, we are ensuring that all employees can contribute to the bank’s success while balancing their personal lives.”
The bank’s initiative also aligns with the United Nations’ Sustainable Development Goals (SDG), specifically SDG 3 on Good Health and Well-being and SDG 5 on Gender Equality. By prioritizing gender diversity and providing support for working mothers, Union Bank aims to retain top female talent and contribute to broader economic growth. Studies have shown that gender parity in the workforce could increase global GDP by up to 26%.
With these forward-thinking policies, Union Bank continues to position itself as a leader in workplace inclusivity and sustainability, setting a new standard in Nigeria’s banking sector.
