HSBC introduces new fertility treatment, surrogacy and gender affirmation benefits

Plus enhancements to fertility drug coverage, adoption and parental benefits

HSBC, Canada’s leading international bank, has introduced new and enhanced family-building benefits for it’s more than 5,300 Canadian employees including new coverage for fertility treatments, surrogacy and gender-affirmation.

Kim Toews, Executive Vice President and Head of Human Resources said: “These new and expanded benefits are part of our commitment to supporting a diverse and inclusive culture, where all employees feel they can be themselves at work and in their personal lives and are the result of our ongoing dialogue with employees around what benefits are most important to them.”

Surrogacy Medical Benefit: up to a maximum $30,000 per lifetime for eligible surrogacy medical expenses incurred by a surrogate, on their behalf.

Fertility Treatments: up to a maximum of $20,000 per lifetime for eligible fertility treatment expenses.

Gender Affirmation Benefit: This benefit is intended to help our gender diverse employees embody their authentic selves providing additional financial support of $10,000 per year with a $50,000 lifetime limit for those treatments that are not covered by the provincial health programs.

Toews continued: “Offering gender affirmation benefits is a big step forward for HSBC Canada. Not only are we doing the right thing by supporting our trans employees, this also makes good business sense as we look to attract a diverse spectrum of employees to HSBC.”

HSBC is also increasing coverage for the following existing family-building benefits:

Adoption: up to $10,000 per child towards the cost of adopting a child.

Fertility: eligible drug expense claim up to $5,000 per year.

Parental Top-Up Plan: If both parents work for HSBC Canada, maternity or parental top-up will be provided for both employees.

With a diverse and gender balanced board and executive committee since 2013 and approximately 45 per cent of its employees identifying as members of a visible minority, HSBC is a leader in diversity and inclusion. The HSBC Group was recently awarded Gold in Stonewall’s Top Global Workplace Equality Index, which recognizes organizations that have taken steps to advance LGBTQ+ equality across their global locations over the last 12 months.

It also has a range of initiatives in place to support diversity including: 1. A Diversity & Inclusion Council, made up of a cross-section of senior leaders, including our President and CEO, who sign-off and monitor the progress of our diversity programs and initiatives. 2. Diversity policies, covering areas such as religious leave and workplace accommodation. 3. Specific initiatives to increase the representation of members of Canada’s Indigenous population and people with a disability within our workforce. 4. Nine Employee Resource Groups, which propose
and implement inclusion strategies in support of their members, and provide feedback to the organization as a whole on employment barriers.

HSBC Bank Canada is a subsidiary of HSBC Holdings plc (‘HSBC Group’). It helps companies and individuals across Canada to do business and manage their finances here and internationally through four businesses: Commercial Banking, Global Banking, Markets and Securities Services, and Wealth and Personal Banking.

HSBC Holdings plc, the parent company of HSBC Bank Canada, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa and is one of the world’s largest banking and financial services organizations.

To find out more about the many ways to develop your skills and achieve your career ambitions in a diverse and inclusive environment at HSBC, visit https://www.about.hsbc.ca/careers

As an employer committed to diversity and inclusion, we encourage all Persons with Disabilities to self-identify in their applications, and invite you to reach out to Dianne Calma, our Diversity Recruitment Relationship Manager at dianne.calma@hsbc.ca for support during the selection process.

Related Articles

Recent Articles

FYI

Complimentary Issue

If you would like to receive a free digital copy of this magazine enter your email.

Accessibility