AXA reveals multiple enhancements to employee benefits

AXA reveals multiple enhancements to employee benefits | Insurance Business Canada

Insurance News

AXA reveals multiple enhancements to employee benefits

Changes include a sizeable increase in paid co-parent leave

Insurance News

By
Kenneth Araullo

AXA has announced an expansion of its employee benefits, effective from Jan. 1, as part of its ongoing commitment to fostering a diverse and inclusive corporate culture, and to providing a positive and supportive working environment for its staff.

The enhancements include a notable increase in paid co-parent leave, doubling from 20 days to 40 days. Additionally, AXA is introducing five days each of caregiver leave, fertility leave, and pregnancy loss leave. These changes are designed to offer employees more time to spend with their families during crucial life stages, thereby promoting a healthier work-life balance and addressing a variety of personal needs.

In October, AXA Group launched the “We Care” program across 51 markets globally. This initiative is aimed at supporting employees through significant life events and underscores AXA’s dedication to caring for its employees’ overall well-being. The program is a step towards creating a healthier, more inclusive, and supportive workplace culture on a global scale.

“Our employees are the most valuable assets of AXA and we continue to strive for a more diverse and inclusive corporate culture. By further enhancing a series of employee benefits, we are able to provide better care for our employees’ overall well-being and create a more friendly working environment to promote work-life balance, which also helps in attracting and retaining talents,” AXA Greater China CEO Sally Wan said.

Wan also mentioned AXA’s history of embracing flexible working arrangements, including working from home once a week before the pandemic. Based on employee feedback, this was increased to two days a week during the pandemic, a policy that has been maintained.

The “We Care” program will introduce and enhance multiple employee benefits from Jan. 1, including:

Extended paid co-parent leave from 20 to 40 days
New five-day fertility leave for employees undergoing assisted reproductive treatments, with additional leave for partners
New five-day pregnancy loss leave, with additional leave for partners in the event of a miscarriage
Five days of caregiver leave for employees caring for close family members with serious health conditions or disabilities
Five days of paid leave for employees affected by domestic or sexual violence, with extra support tailored to individual needs
Expansion of the “Healthy You” program to support employees experiencing menstrual health conditions, menopause, or andropause, along with resources to address various health issues

Elsewhere in the firm, AXA Group has disclosed that its affiliate, AXA France Vie, has finalised a reinsurance agreement with AXA Réassurance Vie France (ARVF).

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