‘Loyalty leave’: The ANZ’s new tactic to retain staff

The ANZ will start giving staff an extra week of leave in a bid to promote longevity.

Staff who have been with the bank company for more than three years will receive a bonus week of “loyalty leave”, taking their annual leave total to five weeks.

Libby Sandor from Bond Business School says some employees refuse to take any time off and she suspects there are two main driving factors behind the A-N-Z’s – so called ‘loyalty leave’.

“It could be that people aren’t taking their leave, so it could be a well-being issue,” she told Ross and John.

“The other one is that they’re trying to get people to stick around, because people don’t tend to stick with their employers very long these days.”

Click PLAY to hear more