Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Westpac Introduces In House Childcare

Westpac Becomes The First Bank In NZ To Offer In House Childcare Facilities For Staff


Westpac has this week signed an agreement with the NZ subsidiary of ABC Learning Centres Ltd to establish childcare centres for its staff in three New Zealand locations, including Auckland. The centres are due to be up and running in the middle of next year.

This undertaking by Westpac makes them one of the first major corporates in NZ to put in place such facilities in-house and is part of the bank's vision of ensuring that cost effective childcare facilities become a reality.

Speaking at an event to celebrate the agreement, CEO Ann Sherry said that employer childcare centres using an external provider to provide childcare services was an offering not provided by other financial services organisations in New Zealand, but that Westpac was making the move as a response to a call for childcare centres from its staff.

"Over the last couple of years we consulted extensively with staff and their feedback has showed that having a childcare facility close to or en route to work will help employees to balance work and home life, and support Westpac's staff retention goals in what is a tight labour market," said chief executive Ann Sherry.

The centres will be operational in mid 2007, opening in the bank's Cashel St location in Christchurch, Plimmer Tower in Wellington and an Auckland location currently under discussion. Once these centres are established additional childcare centres in other locations will be considered. All together further entrenching Westpac's commitment to corporate responsibility

There will be 75 childcare places in Wellington and 75 in Christchurch centre and the Auckland centre will be at least this size too. To date, more than 238 Westpac children have joined the waiting list for the three centres, demonstrating the high level of demand for these facilities.

This week's announcement follows a ruling by the Inland Revenue Department giving clarity to the arrangement proposed by Westpac, under which the Westpac-owned facilities are managed by ABC Ltd.

"This is the first time such an arrangement has been put in place in New Zealand, hence the need for a binding ruling from IRD. The ruling provides greater certainty about likely childcare costs, and allows Westpac to get on with delivering the childcare facilities our staff want," Ann Sherry said.

Ends


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>