The lender joins seven co-founding firms, along with a growing number of signatories, that agree to the charter’s six governing rules about best practice for mental health and wellbeing.
This includes developing mental health awareness among employees, encouraging open conversations about mental wellbeing and support valuable to those who may be struggling, offering employees good working conditions to encourage a healthy work-life balance, and opportunities for development.
Other measures are promoting effective people management through line managers to ensure there is a focus on physical and mental wellbeing, routinely monitoring employee mental health and wellbeing through surveys and regular contact with managers, and having a named contact for mental wellbeing support.
Liz Edwards, head of people operations at Paragon Bank said: “By signing the MIMHC, we are making a profound statement about the importance of mental health and also taking tangible steps to implement practices and initiatives that support the wellbeing of our employees to create a healthy environment.
“We believe that collaboration and shared commitment are essential in driving meaningful change and we are thrilled to join MIMHC on this journey. Together, we can continue to raise awareness, reduce stigma and ensure that mental health remains a top priority in our sector.”
Martin Reynolds, co-founder of MIMHC and chief executive of Simplybiz Mortgages, said: “We are delighted Paragon Bank have become a signatory of MIMHC and have made a clear commitment to help improve the mental health of their workers and partners.
“From the conversations held with Liz and her team, it is clear Paragon have some excellent existing mental health strategies and wellbeing processes, and we very much look forward to hearing about those during virtual signatory events we have scheduled in the second half of 2024.”
Saffron Building Society is also a recent signatory of the MIMHC.
