Last Updated on October 24, 2023 by Steve Randall
With a global focus on mental health this week thanks to the annual World Mental Health Day initiative, one of Canada’s big six banks has announced a boost for its employees’ wellbeing.
Scotiabank is adding two additional paid personal days for eligible Canadian employees in support of mental health and broader wellbeing.
“Our people are our most important asset, and their wellbeing is a top priority for Scotiabank,” says Barbara Mason, Chief Human Resources Officer. “We strongly believe that by offering employees greater flexibility to take time off to achieve greater work-life balance, our employee population will be healthier and happier, and therefore enabled to perform at their very best.”
The additional days will be available from January 1, 2020, making a total of 5 days that can be taken whenever needed. These are additional to current sick time and vacation entitlements.
“Research also tells us increased flexibility and paid personal time off are correlated to reduced absenteeism and increased productivity and engagement,” added Dominic Cole-Morgan, SVP Total Rewards.
Scotiabank also provides $3,000 of coverage for mental health services for staff and their families to cover things such as psychologists, psychotherapists, family therapists and marriage counsellors.
This year’s World Mental Health Day, organized by the World Federation for Mental Health, has a special focus on suicide prevention.
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
