Global financial services provider Credit Suisse announced it is expanding and increasing the flexibility of parental leave for caregivers. The maternity or adoption leave for the primary caregiver will be 26 weeks, and will no longer dependent on the years of service. The paternity or adoption leave for the secondary caregiver will be six weeks, instead of the current 12 working days.
If both parents work at Credit Suisse, they can split ten weeks of parental leave as they choose after the 16th week of maternity leave; for adoptions, this applies to the full leave. In consultation with superiors, both types of leave can also be taken in the form of part-time work within one year of the child’s birth or adoption, the company said in its statement.
In recognition of the service and many years of commitment of longstanding employees, Credit Suisse will now grant additional days off on full pay: After five years of service, five days can be taken; ten days can be taken after ten years of service; after that, 15 days every five years. This offering enables all employees to take regular breaks in combination with vacation or unpaid leave. Members of Senior Management with at least ten years of service will still also be entitled to a sabbatical of two or three months on a reduced salary, provided they have reached the minimum age of 50, the company added.
Claude Täschler, Head of Human Resources for Credit Suisse Switzerland, says: “In the future, we will also continue to address social developments early on and approach them with a long-term perspective. We view our conditions of employment as a conscious and strategic investment that pays off not only for our employees, but also for the bank and our clients. Promoting diversity and including people with different views and needs are fundamental to our success.”
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