Scotiabank Announces New Parental Leave Pay Enhancements and New Virtual Medical Care Program in Support of Employee Wellbeing
TORONTO, March 11, 2020 /3BL Media/ – Scotiabank is expanding its top-up pay for maternity and parental leave in Canada effective April 1, 2020. The expanded parental leave top-up pay provides all parents with greater flexibility to take time away from work to balance work/life priorities when it comes to raising a family.
"We believe in total wellbeing for our diverse workforce that focuses on employees' physical, mental, social, and financial health," said Barb Mason, Group Head and Chief Human Resources Officer, Scotiabank. "We're proud to promote an inclusive culture with the enhancements made to our Maternity and Parental Leave Policy that includes all parents, whether you are a birth or non-birth mother, father, same sex parent or adoptive parent. Scotiabank is committed to increase support for new parents and growing families within the organization."
Now, eligible employees will have six weeks of parental leave top-up pay up to 100%, which supplements maternity and parental benefits from Employment Insurance (EI). For birth mothers, this means an increase from six weeks to 12 weeks of top-up pay.
Scotiabank's Canadian Benefits Plan also offers $3,000 in mental health services per year as part of employees' core coverage, an expansion of mental health coverage to extended family members, and a total of five personal days per year for employees to use in whichever way they wish.
The Bank is also providing its employees digitally-enabled access to healthcare in Canada. Starting April 1, 2020, Scotiabank is offering access to a virtual medical care program through its benefits provider. The program conveniently offers users 24/7 access to healthcare providers right at employees' fingertips.
"At Scotiabank, we look at an employee's wellbeing holistically and part of this involves providing employees with more flexible benefits that allows them to bring their best selves to work," said Dominic Cole-Morgan, Senior Vice President of Total Rewards. "Our comprehensive, flexible benefits programs are just one way we support the unique needs of our employees within our diverse, multigenerational workforce."
The Bank's new virtual care program is delivered through an app that helps employees save time and be more proactive about their health. The new program, offered through a collaboration with its benefits provider, offers real-time virtual access to clinicians who can provide diagnoses and advice for physical and mental health concerns, new and existing prescriptions, lab and imaging orders, and specialist referrals. This is especially helpful to employees located in rural areas throughout the country, where access to practitioners can be limited.
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future", we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 100,000 employees and assets of approximately $1.2 trillion (as at January 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.