Yes Bank rolls out adoption leave under ‘Yes We Care' initiative

BENGALURU: Private sector lender Yes Bank has rolled out adoption benefits for its workforce, in an effort to align organisational objectives with the needs of employees.

Realising that employees need to spend time building an emotional connect with new additions to the family and recognising that many are choosing to adopt children, the organisation has introduced the benefits, which are applicable 1st August onwards.

Under the new policy, called "Bringing A Beautiful Yes" and rolled out under the 'Yes We Care' initiative, leave will now be allowed for employees adopting a child. Women employees adopting a child can take two months of paid leave for adopting a child of 6 years of age or below, and one month of paid leave for adopting a child over the age of six years (upto 14 years). The bank has also enhanced its existing paternity leave to seven days, which will be applicable in cases of adoption as well.

"Over the last year, we have been taking a fresh look at our existing policies and focusing on a transformation in line with employees' needs. Our new benefits recognise that our predominantly young workforce - with an average age of 30-31 years - goes through unique life-stages, and we are building our benefits programmes to better cater to them," Deodutta Kurane, group president - human capital management, Yes Bank, told ET.

The new adoption leave policy will be instrumental in helping new parents connect with their children by giving them adequate time off, Kurane said.

Mothers resuming work post adoption will receive a gift voucher of Rs. 10,000 for the child. Female employees coming back to work after maternity leave receive gift vouchers of Rs. 5,000 for their children.

In January, the bank revamped its maternity policy. Paid maternity leave was enhanced from 90 days to 120 days, with an additional allowance of 30 days unpaid leave.

Yes Bank currently has close to 17,000 employees, and the new benefits will be applicable across all levels.

"We take into account the employee feedback in the Great Place To Work survey, along with market trends and direct employee feedback, for making policy changes. The new adoption policy is certainly an affirmative move by us," said Kurane.

Yes Bank