7 March 2018
ANZ increases paid parental leave to 26 weeks
ANZ Bank New Zealand will increase paid parental leave for employees from 18 to 26 weeks from 1 July 2018. The change comes two years ahead of the Government’s legislated changes in 2020.
ANZ’s paid parental leave entitlements are thought to be the most generous of New Zealand’s large employers. ANZ has over 8000 staff and around 240 take paid parental leave each year.
Speaking ahead of International Women’s Day tomorrow, ANZ CEO David Hisco said: “We want our staff to feel supported so they can give their kids the best start in life.
“I’m a dad and remember those sleepless nights with my boys and wife Debs. When our first baby, James, was born I remember thinking I’d have my work cut out for me! Then when Tom came along, I knew it would be all hands on deck.”
“I know those first months are important – they grow and develop so quickly – so I want our staff to feel they can choose to spend time at home if they wish, with less financial strain.
“This is another way we value and look after our employees. We want our people to feel supported and remain working for us while they have their families.”
Twenty-six-year-old ANZ Insurance Claims Administrator Chloe Taylor-Dykman is expecting her first child in July with her partner Zane, a builder.
“I’ve always thought ANZ paid parental leave was good, especially after discussing it with my friends who are also having babies, but these changes are amazing,” Ms Taylor-Dykman said.
“My husband and I bought our first house three years ago and between mortgage payments and a new baby, I thought I could take only nine months off.
“I want to give our baby the best start and be able to stay at home as long as I can afford. With the additional eight weeks I’ll now be able to stretch our budget to spend 12 months at home. It’ll be way less pressure.
“I feel lucky to work for a good organisation like ANZ, as it makes me want to come back to work after taking parental leave.”
Primary caregivers are entitled to their full ANZ salary after the birth or adoption of a child. Employees can also take two weeks of paid family leave, usually taken before parental leave starts, increasing the entitlement to 28 weeks.
ANZ also gives employees on parental leave a lump-sum employer contribution to reduce the impact of unpaid leave on their KiwiSaver balances. Leave also accrues and employees can attend work for a paid day every three months to remain in contact with their teams.