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ANZ is market competitive and our remuneration and benefits are structured to reward people for their individual and collective contribution to our success, and for demonstrating our values in action.
We review salaries annually to ensure we remain a premium employer in the financial services sector. We also monitor the pay differential between men and women at all levels and our internal audit team conducts an annual review of remuneration outcomes to ensure that ANZ's fixed pay and variable rewards are appropriate and aligned with ANZ's pay philosophy and guidelines.
We encourage our staff to become part owners in our business and share in ANZ's success by receiving, earning and buying ANZ shares. Approximately 79% of all staff are ANZ shareholders.
In 2007, for the tenth year, we granted up to $1000 of ANZ shares to eligible employees globally. The shares are offered under the Employee Share Acquisition Program as an investment in ANZ's future and are allocated subject to Board approval and business performance. For the 2007 scheme, over 920,000 shares were granted to 28,795 employees in 28 countries.
Our Employee Share Save Scheme allows eligible employees to purchase shares through salary sacrifice at a 5% discount. As at December 2007, over 3,300 Australian staff currently participate in the scheme.
We have a range of salary packaging benefits available to our staff in Australia. Current benefits for eligible staff include:
- Child care at participating centres.
- Additional personal and spouse superannuation contributions.
- Employee Share Save Scheme (ESSS).
- Airport lounge membership.
- Car parking.
- Community Giving (our workplace donations and matched giving program).
- Concessional lending.
- Lifestyle leave.
- Novated leases for motor vehicles.
We also offer discounts on ANZ products and services and special discounts on non-ANZ products and services such as computers, cars and travel.
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