ANZ staff face bonus cuts for not going to the office

ANZ managers are warning staff their reluctance to return to their office desks could hurt their bonuses.

ANZ CEO Shayne Elliott . Photograph by Arsineh Houspian.

Australia and New Zealand Banking Group people managers are writing to staff to warn them their bonuses could be cut if they don’t come back to their office desks for at least half of the time.

The memo, seen by The Australian, follows an internal review at ANZ that flagged a group of more than a hundred employees who hadn’t worked in their office for years.

The email reminds employees in Australia, New Zealand and service centres in India and the Philippines, of the banks’ expectation to spend a minimum of 50 per cent of their scheduled work time every month in the workplace.

“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 says.

“This means if you don’t meet the standards expected it may factor into your performance rating and performance and remuneration review outcomes at the end of the FY24 year.”

“If you are one of our people who is yet to be spending more than half your time in the workplace, we need you to adjust your patterns unless you have a formal exception in place.”

The memo is being sent by business leaders across ANZ this week.

Banks have struggled to lure some staff back to their buildings following the pandemic. ANZ chief executive Shayne Elliott last month said that only about 40 per cent of people were back in the office.

“I get the numbers literally every single day. I know how many people are in the building. I would like it to be better,” Mr Elliott said in a radio interview on October 6, according to a transcript on its website.

“The reason I want people in is, frankly, it’s not for me. It’s not even necessary for the bank’s benefit because I think we can run the bank pretty well where we are today. It’s for them.”

The link of in-person attendance metrics with performance at the Melbourne-based bank follows similar moves from managers at big tech giants and local companies such as Suncorp and Origin.

It also comes after the Fair Work Commission this month ruled companies have the right to require employees to return to the office given “the worst of the pandemic” is over.

In the memos being sent to staff, ANZ argues its minimum attendance expectations are reasonable and allow “for significant flexibility by default” to accommodate “nearly all individual personal circumstances”.

In some circumstances bank managers could consider granting up to two months as a more flexible exception to the 50 per cent minimum attendance expectation. However, “longer periods of flexibility will require a formal exception signed off by a Group 2 (or higher) leader and then by your Exco leader,” the memo says.