The Ministry of Welfare Awards Baltic International Bank the Family-Friendly Company Status
In 2019, for the third consecutive year, Baltic International Bank has received the Family-Friendly Company Status. The Ministry of Welfare of the Republic of Latvia assigns the status to 38 Latvian enterprises that adhere, in their daily activities, to the principles underpinning family-friendly enterprise and meet a set of criteria and indicators established by the Sustainability Index.
The Family-Friendly Company Status is awarded to businesses that promote family-friendly policies both at the organisational and the community level, for instance, while providing services and creating a healthy workplace environment. Within the framework of the Sustainability Index, the Family-Friendly Company Status is awarded to businesses that demonstrate their professionalism, experience and values to the public and that can lead by example.
“We have received the Family-Friendly Company Status in recognition of years of efforts directed towards reinforcing of family values and providing aid and support to different population groups. As succession is one of Bank’s corporate values, we therefore strongly promote family engagement and care about future generations. Baltic International Bank receives the Family-Friendly Company Status already for the third time in a row. It is certainly a proud moment for us. Moreover, the award reflects Bank’s commitment to pursuing and implementing family-friendly employment policies and practices. We take care of our employees, foster a supportive workplace environment and provide opportunities for developing and integrating young talented people. We always remain responsive to the needs of society as a whole. I would like to congratulate this year’s awardees and their teams whose passion and dedication is really inspiring,” our Management Board member Guntars Reidzāns emphasises.
Since its foundation, Bank has always striven to shape culture that supports children and families, both at the organisational and the community level. As Bank is a responsible employer, it promotes and encourages a motivating workplace environment. Through its family-friendly policies, Bank helps the employees to achieve a healthy and productive work-life balance. Bank also organises special events for the families and children of its employees. Every year, Bank celebrates the International Day for Protection of Children and organises the Children’s drawing festival whose main theme is “Coin”. This is a fun and festive event for the whole family. To facilitate professional development of tertiary-level students, Bank offers them to attend banking internship, an opportunity to see Bank’s work from the inside, apply their theoretical knowledge in practice, and embark on a career in the finance industry.
“We are very pleased to know about the ever-growing interest in receiving the Family-Friendly Company Status. This signifies that enterprises are committed to greater corporate social responsibility (CSR) and that they are cultivating their ability to think long-term. Thus, they promote maximally favourable conditions for their employees, creation of customised products, and development of society as a whole. The Family-Friendly Company Status has become a matter of prestige as it boosts brand awareness and reputation of the respective business as an employer, also internationally,” Guntars Reidzāns says.
Bank actively takes part in different charity events. In particular, Bank donates annually to support orphanages (boarding schools). During the charity donation campaign, Bank’s employees buy footwear, apparel, toys & games, sporting equipment, and other stuff beneficial for children. The employees donate computers to Latvian schools and participate in various fundraising initiatives (gathering voluntary financial contributions) to provide support to the children and families who are in need. In 2018, Bank launched an ambitious initiative, i.e. the reading promotion project titled “Library”. The project focuses on meaningful engagement of young people and aims at educating the public regarding the importance of literature in people’s lives.
About the Status of Family-Friendly Company
To instil family values in the society and to build a family-friendly work and life environment, the Ministry of Welfare annually evaluates businesses and assigns the Status of Family-Friendly Company. This year, the status has been assigned for the eleventh consecutive time for the purpose of popularizing the very idea of a family-friendly businesses and involving more and more new enterprises into the process. In close liaison with the Sustainability Index, the businesses have been developing (since 2011) the criteria relevant to promoting the family-friendly policies. The criteria are included into the survey sheet of the Sustainability Index. To qualify for the status, the enterprises must meet the eligibility requirements. To put it more precisely, they must reach the 75-percent minimum threshold. It is notable that certain businesses do not qualify for the status. We mean enterprises whose activities or goods are somehow unfriendly to children and families, such as manufactured tobacco, alcohol and alcoholic beverages, arms production, and gambling services.