Maybank to give employees a year of maternity leave

New leave package to provide full pay for first three months, followed by half pay for the next three

Maybank to give employees a year of maternity leave

Insurance News

By Gabriel Olano

Malaysia’s Maybank Group has started offering extended maternity leaves of up to 365 days to its female employees, the financial group announced last week.
With the new leave package, female employees will be allowed up to one year of maternity leave, with variable pay. For the first three months, the employee will receive full pay, followed by half pay for the next three months. The last six months will be unpaid.
According to Maybank Group chief human capital officer Nora Manaf, the enhanced benefit package was formulated after the company made a thorough review of employee policies and programmes.
Manaf also said that taking the extended maternity leave period will not be considered a break in an employee’s tenure, and she will continue to be covered by medical and insurance coverage corresponding to her benefit grade.
Maybank will also implement a sabbatical leave policy, allowing eligible employees to take career breaks lasting a minimum of three months, with a maximum of 24 months, with the guarantee to be able to return to work. While employees are on unpaid sabbatical leave, employees will still be covered by relevant medical and other insurance policies up to a certain period of time.
“During the period of no pay sabbatical leave, employees will continue to enjoy certain benefits such as medical and insurance coverage up to a certain period of time,” said Manaf.
According to the International Labour Organization (ILO), striking a balance between work and family time is the biggest challenge facing women in the workforce. Many men and women surveyed also agreed.
“Despite progress, the large majority of working women in the world do not have adequate maternity protection,” the UN agency said. It estimated that only 41% of employed women have a statutory right to maternity leave, and only 34% of those are legally entitled to cash benefits while on maternity leave.

Related stories:
Maybank chairman to step down at the end of the month
AXA AFFIN Life Insurance to become ‘most female friendly’

Keep up with the latest news and events

Join our mailing list, it’s free!