Bank of Valletta is expecting a record response from employees eligible for subsidies on summer school for their children, according to Human Resources executive head Joseph M. Camilleri.

The scheme was launched in 2008 and was immediately taken up by a substantial number of employees, with the number growing year on year. Around 150 employees every year receive subsidies to help with child care.

“Bank of Valletta takes its responsibilities as an employer very seriously,” said Mr Camilleri. “We fully appreciate the dilemma presented by the summer holidays for employees with school-age children. Many parents opt to send their children to summer schools, which offer a great environment that complements fun with educational activities, while giving parents all-important peace of mind. This was why the bank launched a scheme six years ago to help its employees with the cost of summer school.”

The subsidy on summer schools is just one of the many initiatives introduced by the bank to help its employees maintain a balance between work and home life, which go well beyond the minimum established by law – and are sometimes not contemplated by the law at all.

“For example, employees are entitled to three continuous years of parental leave, which can be taken at any time until the child is five – leaving it up to the parent to choose the most appropriate period depending on their personal circumstances. If they do not avail themselves of this unpaid leave, they are entitled to four months unpaid leave up till the child is 8-years-old,” Mr Camilleri explained.

Male employees are also entitled to one working week off when a child is born.

In addition both parents may avail themselves of the opportunity to work on a reduced hours schedule depending on the age of the child, while flexible hours can also be arranged in some cases.

In the case of adoption or fostering, employees are entitled to three months’ special leave with pay.

The bank also offers other initiatives to help employees cope with family demands. It offers one working week of marital leave – more than double that offered to public sector employees – as well as a number of days every year to look after sick relatives.

The bank offers a basic medical insurance cover to all its staff, including an employee’s spouse and dependant children up to 21 years-of-age. In addition, BOV employees have the option of upgrading this basic cover at a subsidised rate.

The employees’ wellbeing is also taken into account through the reimbursement of expenses related to regular medical check-ups for employees who are aged 40 or over. The BOV employees assistance programme is yet another initiative, operated by the Richmond Foundation, to help address issues such as stress, which can escalate if left unchecked.

Employees who choose to further their career through study are entitled to additional study and exam leave, plus a reimbursement of part of the expenses they incur.

“We are proud to be a sought-after employer, and one that not only recruits but works actively to retain its staff and ensure that they have a fulfilling career that supports and complements their personal life,” Mr Camilleri concluded.