ANZ to increase staff salaries

The National Business

ANZ Papua New Guinea has signed an agreement with the Papua New Guinea Banks and Financial Institution Workers Union to increase the salaries and allowances of its employees.
The agreement covers:

  • A 10 per cent increase to the salary budget payable over the next two years with average salary increases of up to six per cent;
  • an increase to allowances on domestic travel, meals and shift work;
  • an increase of five days in paid annual leave to non-managerial staff. All staff will now receive 20 days paid annual leave irrespective of position;
  • a three-day paid paternity leave for male employees;
  • housing grant accessible to all eligible employees; and,
  • A three-month paid maternity leave for female employees.

ANZ chief executive Mark Baker said: “ANZ is fully committed to the wellbeing of our people.
Given the challenging economic environment in Papua New Guinea and to ensure the business aligns with best practice across the ANZ group, this was the right thing to do.
“The benefits are significantly better than what was outlined in the former agreement in place since 2004.”
Union secretary Vera Raga said ANZ had demonstrated leadership “in this trying economic climate”.
According to ANZ, an objective of the review was also to eliminate any provision which may be perceived to be discriminatory. For example, all references to a prescribed retirement age were removed from the agreement.