Aussie companies offering insane perks to keep staff
A skills shortage, thousands of job ads and the looming Great Resignation mean employers are having to get creative to keep staff happy.
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Staff are in hot demand across Australia and with thousands of open positions, employers are scrambling to offer up mega perks to stand out from the crowd and entice newcomers or keep current employees.
It’s everything from heartbreak leave, time off for cultural celebrations, free cooking classes, shares in the company and more time out when having a child.
Fintech company Finder is introducing five days paid leave for life’s big events on top of its annual and sick leave entitlements.
It can be used from anything from heartbreak leave if someone is going through a tough break up, as paw-ternity (pet) leave or to be there for their kid’s first day of school.
The “life leave” aims to help the 500-strong Finder crew to “live their best lives” and other reasons it could be taken include moving house, volunteering or cultural celebrations, according to the company.
The new life leave entitlements will kick in from December. It follows a ramped up wellbeing program launched at Finder this year, including a paid wellbeing day in addition to mental health first aid training for interested staff.
Life’s ups and downs
Finder’s recently appointed chief people officer, Shanyn Payne, said a whole person approach is essential to modern workplaces.
“Work-life balance is a myth, this is about work-life integration and we want to support our crew both inside and outside of work,” she said.
“We encourage our crew to bring their authentic selves to work knowing that Finder will support them during life’s ups and downs. You get the most out of people when they feel supported and looked after.”
Ms Payne said the new perks were not in direct response to The Great Resignation, a phenomenon occurring in the US with millions of people quitting their jobs, with Aussies expected to follow the trend from March next year.
“We know that happier employees lead to stronger companies. Next up we are reviewing our flexible working philosophy to be more inclusive and attract a wider pool of talent across the country,” she noted.
New research has found 42 per cent of Australian workers are planning on changing jobs within the next six months, with 11 per cent wanting more flexibility.
The analysis of Organisation for Economic Co-operation and Development (OECD) data found Australia has one of the lowest job tenure rates of OECD countries, with just 26 per cent of employees having remained with their employer for more than 10 years.
In comparison, half of employees in Greece, Italy and Portugal have stuck with their employer for more than a decade.
Vibe and thrive allowance
Meanwhile, the $56 billion Aussie design company Canva introduced a vibe and thrive allowance for all workers, which can be spent on everything from gym memberships, home office set ups, social celebrations, wellbeing and education.
It even offers 400 social clubs with Zoom yoga, cooking classes, magic shows and trivia.
NSW company Catering HQ which operates 50 dining spaces throughout the state is struggling to find people so have introduced $100 Visa card incentives for employees that refer staff to work with them, as well as employee share plans for key managers and chefs.
Paying for Uber to transport staff, short term accommodation for regional sites, meal allowances and bonuses are also part of the recruitment drive, said owner Steve Sidd.
“We are also offering a four day working week with three days off, free personal financial advice by CommBank for all employees that work exclusively for Catering HQ, free traineeships, on the job training with a registered RTO – and multiple courses such as Cert III, IV, Diploma and Advanced Diploma,” Sidd told The Daily Telegraph.
Parental leave
A long overdue area has got the most attention in years with many Aussies companies beefing up their parental leave policies.
Finder is the latest introducing 20 weeks of parental leave in Australia, with no qualifying period to access it, and it will also continue to pay superannuation during this time.
KPMG also made a change back in July, giving 26 weeks flexible parental leave for both parents which could be taken within the first two years of the child’s life, with no minimum work period to qualify.
Indigenous employees at KPMG also have access to new cultural and ceremonial leave, to take part in significant community dates or events.
In September, Westpac announced it was increasing its parental leave up from 13 to 16 weeks for primary carers, as well as introducing special paid parental leave for premature birth.
Superannuation
Viva Energy, one of Australia’s leading energy companies, was one of the first in Australia to introduce a full-time superannuation payment for all employees on parental leave and during part-time work periods for up to five years from the child’s birth.
Superannuation a huge issue for women in particular, who retire with less than man often because they have taken time out of the workforce to care for kids.
Over a million Aussie mums have missed out on more than $1.6 billion in superannuation in the last decade because the Federal Government refuses to pay super on its parental leave scheme, a recent report found.
Melbourne mum of two, Jackie To, who currently works part-time at Viva Energy as operations project lead, sees the significant value this policy brings to her family.
“The superannuation policy was implemented right before the birth of my daughter, and since then I’ve also had a son. While the full-time superannuation payment is already above the government-mandated rates, I felt very fortunate that I would still be remunerated at the same rate during unpaid parental leave and any part time work,” she said.
“My husband’s industry doesn’t have the same flexibility Viva Energy offers in terms of parental leave, so it was always an understanding that I would work part-time while the kids were young. This is also what I wanted to do – spend as much time with the kids before they start school, but also return to the workforce. It gave me peace of mind, as I felt I had reached the right balance without being disadvantaged financially.”
In June, Star Entertainment said it was boosting paid maternity leave to 16 weeks for primary carers, 4 weeks for secondary carers and 18 weeks of paid superannuation.
Bereavement leave
Recognising pregnancy loss is also becoming more common.
In July, Westpac announced the introduction of five days of paid leave for people who experience early pregnancy loss in their first 12 weeks.
Miscarriage, stillbirth, adoption, IVF and foster care leave is also being offered by Finder
Buy now, pay later company Zip was one of the first companies in Australia to offer bereavement leave for miscarriages, including for partners back in April.
It enables grieving parents two weeks of paid leave following the loss of a pregnancy before 20 weeks
Originally published as Aussie companies offering insane perks to keep staff
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