BNZ increases staff leave allowance to six weeks

Thursday, 7 November 2019

BNZ is offering staff an extra two weeks off work a year.

BNZ chief executive Angie Mentis says the bank has moved to offer staff six weeks' annual leave after work looking at their employment experience.

From January, all staff members will qualify for an extra two weeks' leave a year.

BNZ is also encouraging more flexibility in where and how its people work and increasing parental leave provisions.

'Increasing annual leave makes sense on many levels. It's about valuing our people and their commitment to deliver for our customers,' Mentis said.

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'No matter the job, people need balance and time to pursue activities and interest outside of work. Six weeks leave gives our people time to plan and enjoy their breaks, and best serves our people to be healthy and well.

'Businesses need to care for their people and put their wellbeing first.'

But the move includes the removal of 10 days' domestic leave that had previously available for staff needing to care for family members.

'The annual leave announcement has been incredibly well received by staff,' a spokesman said.

'The new annual leave offering gives all our permanent employees flexibility to use 30 days annual leave how and where they see fit.

'Historically we've had domestic leave which was discretionary and used for a narrow range of activities.

'We're also offering increased parental and family leave, and superannuation provisions.'

Mentis said BNZ had looked at what were the most important moments in employee' lives and found that a lot of people wanted to be able to take sabbaticals, or to take more time off with their children in school holidays, or find time away from work to study.

More leave would allow people to perform better at work, she said.

It would also help the bank to stand out in the employment market.

Other big employers offer some flexibility of leave.

At ANZ, staff get 25 days paid leave – a combination of 23 days' annual leave and two days of loyalty leave.

At Spark, staff get a standard four weeks' annual leave but have the ability to purchase extra leave and work 'summer hours'. NZ Post and ASB also allow extra leave to be bought.

Cigna offers an extra two 'insurance days' that staff are encouraged to use over the New Year period.

Insurer IAG says, depending on contracts, staff are entitled to up to 25 days' annual leave. The Ministry of Foreign Affairs and Trade says it offers a minimum of 23 days and up to 25.