Yahoo Finance WFH: ANZ’s warning to staff refusing to come into the office
ANZ staff have been told their salary reviews and bonuses will be linked to their office attendance.
ANZ is the latest major Australian company to tell staff their pay packets could be cut if they refuse to come into the office as required.
Last year, ANZ set a target for staff to spend at least 50 per cent of their work time in the office. But it appears some staff have been flouting this rule.
In an internal memo sent to ANZ staff, the major bank said office attendance would be linked to annual salary reviews and bonuses.
“Working in line with ANZ’s expectations for hybrid working, as well as any specific commitments within your team, is just like any other behavioural expectation at ANZ,” the memo, which has been shared on social media, reads.
“This means, if you don’t meet the standards expected, it may factor into your performance rating and PRR [Performance and Remuneration Review] outcomes at the end of the FY24 year.”
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The major bank noted its office expectations remained the same, with staff given the flexibility to work up to half the time remotely, whether from home or another location.
“On average, we expect our people globally to spend a minimum of 50 per cent of their scheduled work time in the workplace in order to nurture the ANZ culture at scale, get the best outcomes for our business, and for our own development,” the memo reads.
ANZ CEO Shayne Elliott told 3AW in October that only about 40 per cent of staff came into the office and, although this was increasing, he would like it to be better.
“The reason I want people in … it’s for them. I think people, particularly younger people but not just, it’s good for social cohesion, coaching people on the job, career progression, learning, training,” Elliott said.
Suncorp Bank and Origin Energy also started linking staff bonuses to office attendance this year. Origin requires staff to come into the office at least 40 per cent of the time, while Suncorp requires employees to follow hybrid working plans agreed to with managers.
Bosses plan to pay WFH staff less
A recent global survey found 37 per cent of Aussie employers were planning to differentiate pay between remote and in-office staff in the next three to five years.
A similar number said they expected remote working would become a privilege that could be earned through trust and seniority, the Herbert Smith Freehills survey found.
Herbert Smith Freehills partner Natalie Gaspar said employers were now using both soft and hard tactics to get workers back into the office, including team lunches in the office or telling staff to be in the office on certain days.
“There’s only a handful of organisations mandating a full return to the workplace,” Gaspar said.
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