Scotiabank expands health benefits to same-sex partners of employees

Scotiabank has expanded its health care benefits to include the same-sex partners of employees. Stephen Bagnarol, managing director of Scotiabank TT, on Wednesday said the bank’s most recent step to align its benefits for all employees shows respect for everyone's diversity.

“Being the best bank means taking bold action. We value and respect all our employees for their character, passion and integrity and encourage everyone to be their authentic selves. When we engage in bias free practices, we are able to help unlock employees’ full potential. They consistently rise to the challenges faced, continue to deliver excellence to our customers and contribute to the bank’s overall success,” he said in a media release.

Scotiabank TT's insurance medical benefit is the first in the industry to include this benefit for same-sex partners. The bank said it recognised that the most important investment it can make is in its employees and the bank's leaders want to commit to creating a workplace environment that is safe, fair and inclusive, as well as promotes and celebrates diversity.

Stephan Lalonde, director of human resources, said employers need to understand the evolving needs of employees and the value in embracing family diversity.

"This is a key part of helping employees build a solid financial future...This is an important topic and we hope our action inspires other companies to follow suit,” Lalonde said.

Scotiabank TT recently completed a survey which indicated that 94 per cent of its employees believe that the bank is building and supporting an inclusive workforce.

One of the other actions Scotiabank has taken to promote its diversity and inclusion focus includes establishing employee resource groups (ERGs) – that provide employees with opportunities to learn, grow and communicate, and provide valuable insight to management about important issues related to diversity and inclusion.

Last week, Global Finance magazine rated Scotiabank as the best bank in TT for a second consecutive year.