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MetLife introduces new leave benefits for employees

Yasmine Masi3 April 2024
Hand with magnet attracting talent

After its recognition by the Diversity Council Australia as the only life insurer on its Inclusive Employer list 2023-24, MetLife Australia has introduced a raft of new employee leave benefits.

The life insurer has brought into effect three new leave types to support its diverse workforce and the changing needs of employees, including menopause leave (up to 10 days), fertility leave (up to five days) and gender affirmation leave (up to four weeks). It has also extended paid parental leave to 16 weeks in 2024 and to 18 weeks in 2025.

MetLife’s Employee Benefits Trends Study from 2020 found 30 per cent of the insurer’s employees were women aged over 40, with menopause a key contributing factor to women leaving the workforce prior to reaching the standard retirement age.

The research also suggested an expanded paid leave system was important for employees and would help to drive employee engagement. This, combined with insights from the Diversity Council Australia Inclusive Employer survey, informed MetLife’s holistic approach to employee leave and benefits – offering return-to-work support planning and education.

“Employee care must include initiatives that recognise our people make valuable contributions and also have unique needs,” MetLife’s Head of People & Culture, Alex Sosnov, said.

“These employee benefits recognise this and are tangible ways to enable our people to achieve their professional and personal goals. We know this helps us create a more inclusive workplace while also retaining and attracting the best people who will help us achieve our business goals.”

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