Employees of ANZ PNG will look forward to better working conditions, following the signing of an agreement with the PNG Banks & Financial Institution Workers Union.
ANZ PNG CEO, Mark Baker, signed the agreement on behalf of the bank – the first since a similar agreement was signed in 2004.
The agreement came into effect on September 1st, with some of these benefits to include;
- A 10% increase to salary budget payable over the next 2 years with average salary increases of up to 6%;
- Significant increases for key allowances such as Domestic Travel, Meals and shift work allowances
- An increase of five days paid annual leave to non-managerial staff so all staff now receive 20 days paid annual leave irrespective of position;
- Introduction of three days paid paternity leave for male employees;
- Housing Grant now accessible to all eligible employees;
- Three months paid maternity leave for all female employees.
The negotiations for this new agreement had taken close to a year, with Union representatives careful to ensure a successful outcome.
According to Union General Secretary Vera Raga, ANZ has demonstrated leadership in this trying economic climate and the Union is confident of continued sound industrial relations between the parties in the best interest of their constituents and key stakeholders.