Finance giant introduces 16-week leave

Employees will be able to take time off – fully paid – for a whole host of reasons including caring for elderly relatives or sick spouses.

Finance giant introduces 16-week leave
One of the world’s most prominent finance firms has introduced an industry-leading leave scheme, offering employees up to 16 weeks of paid time off for a number of family-related reasons.

“By adding support for eldercare, spousal care, and children beyond the birth stage, Deloitte’s family leave program provides our people with the time they need to focus on their families in important times of need,” said Cathy Engelbert, chief executive officer at Deloitte LLP.

“Leaders often discuss how they can become more innovative, and one of the things that makes a big difference is to focus beyond business products and services and think about their people and the fabric of organizational culture,” she continued.

The move – which also makes new mothers eligible for up to six months’ of paid time off when factoring in short-term disability for childbirth – is the latest signal that employers are responding to the needs of a changing demographic.

Pat Irwin is the founder and president of ElderCareCanada but enjoyed a long and successful career in financial services before beginning the venture – she told HRM that employers will reap the rewards if they support their employees in times of familial difficulty.

“If you help your employees help their families age well – that is a really powerful gift if you want to give back to society and you want to be a good corporate citizen but also if you want to be one of the best companies – this kind of thing really sets organizations apart.”

Deloitte chief talent officer Mike Preston said that employees’ family needs went far beyond welcoming a new child into the world.

“Our talent strategy is centred around our ability to create a leadership culture that is focused on the development and well-being of our professionals,” he stressed. “Leading-edge programs for our people, reinforced by daily interactions and conversations at the team level, instil a culture of support and well-being.”

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