Wish granted! An extra week of annual leave, to reward loyal employees
As Disney buffs around Australia eagerly await the release of the Aladdin remake this week, it seems one Australian employer is granting wishes for their loyal employees, providing an additional five days per year of annual leave for staff who have had more than three years of consecutive service.
Sadly, the employer in question is not from the early childhood education and care (ECEC) sector, although some employees may use this new provision as inspiration for their own enterprise bargaining, or discussions with their employer about a change in working conditions.
ANZ announced earlier this week that it would introduce “loyalty leave” as part of the company’s focus on improving staff wellbeing and engagement, as well as attracting and retaining talent. Staff in 24 countries outside of Australia, who are part of the ANZ network, will also benefit from the perk.
Group Executive, Talent and Culture, Dr Kathryn van der Merwe, said many employees had outlined that they want more flexibility to focus on what’s important outside work, saying the loyalty leave was one way that ANZ hoped to respond to the request.
“Regular annual leave is essential as it allows our people to spend time doing what’s important to them personally, as well as to rest and recharge to ensure they are able to deliver great results for our customers,” Dr van der Merwe said.
A number of enhancements were considered to add to the employee benefits already on offer, and to respond to employee requests, ANZ landed on annual leave as it is a ‘core’ benefit that is relevant to all permanent employees, regardless of seniority, gender, or status as a parent.
More than 65 per cent of those employed by ANZ work flexibly through part-time work, lifestyle leave, job sharing, flexible hours and a compressed work week, to help them meet their personal and family needs, following an international trend where many organisations are offering greater workplace flexibility to better engage and energise staff.
In a bid to change the culture of working too many hours and accruing leave, employees in a number of major locations must also ensure that their annual leave balance every 30 September is no higher than their yearly annual leave accrual.
More information about the Loyalty Leave introduction is available here.