ANZ ties bonuses to physical presence in the office.

ANZ employees have been informed that their annual bonuses could be reduced if they do not fulfill the requirement of spending a minimum of 50 percent of their scheduled working hours in the office. This aligns ANZ with Suncorp Group and Origin Energy, both of which linked office attendance to annual performance evaluations and bonuses earlier this year. Emails circulated to staff in Australia, New Zealand, Manila, and Bengaluru emphasized that adherence to ANZ’s hybrid working expectations, along with team-specific commitments, is treated as a standard behavioral expectation. Failure to meet these standards may impact performance ratings and performance and remuneration review outcomes at the conclusion of the FY24 year.

In the wake of the pandemic-induced shift towards flexible work arrangements, employers have grappled with employees seeking increased remote work flexibility. A recent victory for employers occurred when the workplace regulator acknowledged the productivity advantages associated with office work. Additionally, the Finance Sector Union withdrew its dispute case against Commonwealth Bank in the Fair Work Commission, which initially raised concerns about insufficient consultation before the bank introduced its 50 percent office attendance rule.

Despite this, employees in Melbourne, where ANZ’s main headquarters are located, appear less inclined to return to the office compared to other cities. Commercial real estate data from CBRE indicates that workplaces in Melbourne are just over half-occupied on average. ANZ managers communicated the new policy to their teams through generic emails this week, reiterating the bank’s expectation that staff spend a minimum of half their working hours in the office each month.

You May Also Like

More From Author

+ There are no comments

Add yours