The American Investment Bank, Goldman Sachs, has announced a string of employee-friendly policies, including providing a fully paid leave for 20 days if any of their employees, or their spouse or the surrogate mother of their child undergoes a miscarriage. Moreover, the Bank has introduced that it would further extend the 20-day paid family care leave in case of loss of an immediate family member and five days for a non-immediate family member's demise. The new programme would enable their employees to maintain a work-life balance by providing them with time to spend with family, travel, volunteer, or just take a break.
Second-Largest Employee Base
The new programme will also provide a six-week unpaid leave to their employees after they complete 15 years with the Bank and an additional two weeks for every five years after the fifteen years. Goldman Sachs has the second-largest employee base in India, with 7,000 in Bengaluru and over 350 in Hyderabad, The Times of India reported. Employees can avail of 4-week leave if anyone in their family suffers from a severe illness and another 26-week parental leave policy for both parents. The Bank already offers financial assistance of up to ₹14 lakhs for any employee under their 'Pathways to Parenthood Programme' to assist in adoption, egg retrieval or any similar procedures.
Why Have They Introduced The Policy?
Bentley de Beyer, Goldman Sachs Head of Human Capital Management, said, "We're focused on delivering energy optimization, resilience, and mental health programs that support our people in caring for themselves and their families. These new and enhanced benefits are the latest part of providing an environment where our people can continue to thrive personally and professionally".