Santander extends right to maternity and paternity leave to all staff across global operations

Santander is introducing a global minimum standard for parental leave in every market in which it operates, with mothers granted at least 14 weeks of paid leave and the father or secondary parent granted at least 4 weeks. Paternity or secondary parental leave can be taken in a single period or in two periods of two weeks until the child is one year old. The rule is applicable for the 196,000 people employed by the bank across the 10 countries in which it operates. The change results in an increase in maternity leave for branches in three countries – Argentina, Mexico and United States – as well as an improvement to the paternity leave entitlement for employees in six countries – Brazil, Chile, Mexico, Portugal, Poland and Uruguay. Santander also says that in countries where national law is more advantageous as regards parental leave entitlement, those provisions will apply. The new standard is due to be implemented within a maximum of three years, meaning it will enter into force on a global scale by the end of 2022. The change is part of the banking group’s efforts to reach a proportion of 30% of senior leadership roles being held by women, compared to 23% at the end of 2019.