Heritage Bank introduces grandparents leave

Heritage Bank has reinforced its reputation as a highly progressive employer by becoming one of the first organisations in Australia to introduce “grandparents leave” for its staff members.

Under the new provision, staff members are entitled to two days paid leave per year to support their families upon the birth or adoption of a grandchild.

CEO Mr John MInz said Heritage introduced the new leave entitlement after reviewing the range of benefits it provided to staff.

“At Heritage, we pride ourselves on being a great place to work and we look to provide the best possible package of benefits and entitlements that we can,” he said.

“The grandparents leave provision recognises that people today want to be there to support their children when a grandchild is being born.

“We value our staff and we want to offer them the flexibility to be able to access leave to help out their families during what is an extremely important moment in their lives.

“This is a wonderful addition to the benefits package for our staff.”

Mr Minz said Heritage had also introduced another innovative type of leave – “eldercare leave”.

This enables staff to have two days paid leave a year to help their parents through significant changes associated with old age. This could include assisting parents to transition into retirement or into a nursing home or aged care facility, or to accompany parents to appointments with solicitors/accountants to prepare a power of attorney or will.

“Everyone is living longer and that means many staff members do find themselves needing time to assist their parents as they cope with the changes that old age brings,” Mr Minz said.

“We all owe our parents so much. It’s the least we can do as a company to allow our staff members the chance to support their parents and help repay them in a small way for everything they have done.

“This is another way Heritage is ensuring we adapt to the changing needs of a modern workforce.”

Heritage has also recently introduced a third new type of leave entitlement – career break leave.

This enables staff members to take up to six months unpaid leave to complete study, to travel, to trial retirement or possibly to care for a family member who is ill, and then return to Heritage after that.

“People today often want to take a break from their jobs for a short while to complete something that is important to them,” Mr Minz said.

"It might be caring for a sick family member, or it might be a challenge such a climbing Mt Everest or doing charity work overseas.

“Trouble is, people also love working at Heritage and don’t want to have to quit their job to fulfill their personal dreams or responsibilities.

“This new leave provision enables them to do that without having to give up a career they value so much.

“Heritage is a great place to work and we are always striving to make it even better by introducing new benefits that fit the changing needs of a modern workforce.”

* Based on a $150,000 loan over 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.