Standard Chartered Steps Up to Offer Wider Menopause Support

The emerging markets and Asian-focused global banking group Standard Chartered has introduced medical coverage for treating menopause-related symptoms for employees and their partners.

The rollout will make the coverage available to two-thirds of staff by November this year with the plan expected to be completed by April 2024.

While the menopause transition is not a uniform experience, it can have a negative effect on participation in the workplace if not proactively managed, therefore the Bank’s coverage will offer a range of options including access to specialised medical practitioners and prescription medication.

Standard Chartered said it recognises the need to talk openly, positively, and respectfully about the menopause and normalise conversations around it in the workplace and has been taking action globally in recent years to increase awareness and provide better support.

They have introduced toolkits, conversation guides, and counselling support, as well as e-learning and internal events. Employees experiencing the menopause are also well supported by flexible working policies and workplace adjustments to help them better manage their symptoms. This is part of the Bank’s efforts towards fostering a more inclusive and supportive workplace where all employees know their health and well-being are priorities.

For many women, menopause transition occurs between the ages of 45-55 and coincides with the point at which they could attain senior leadership roles.

Tanuj Kapilashrami, Group Head, Human Resources, Standard Chartered, said: “It’s clear that menopause can have an adverse impact on women’s careers in terms of retention and progression if not managed proactively.”

“Our extension of medical benefits to include coverage for treatment of menopause-related symptoms, as well as recent enhancements to parental leave benefits, both underline our commitments to create an inclusive environment where everyone can thrive and to lift the participation of women and other underrepresented groups in our workforce and the communities in which we operate.”

Standard Chartered is a signatory of the Wellbeing of Women’s Menopause Workplace Pledge and a member of the Menopause Friendly Employer organisation.