Westpac gives 4500 workers one week of 'wellbeing leave': How unusual is the move?

Thursday, 7 October 2021

A technology issue has meant late payments surprised some Westpac customers.

Westpac has told staff they can take five days wellbeing leave each year on top of their annual leave.

The bank has also extended its bereavement leave so if an employee loses a sibling, grandparent or grandchild they would be entitled to six days’ leave making it easier for its workers with extended families or whānau.

Banks like Westpac have prospered throughout the Covid crisis, posting big profits, and Marc Figgins, the bank’s general manager of human resources, was aware many employers would struggle to offer a week of additional wellbeing leave.

“[But] what about half a day. What about extra time for lunch? What can you do?”

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Data suggests many businesses offer formal, or informal “special” leave to workers.

“New Zealand’s business leaders are finding new ways to help their people thrive with a larger focus on employee wellness,” says Nick Astwick, chief executive of Southern Cross Healthcare Society.

Business NZ and Southern Cross Health Society will publish the next Workplace Wellbeing Report, which tracks the things employers do to try to keep their staff well.

The report will show 31 per cent of smaller employers, with fewer than 50 staff, and 59 per cent of larger employers offered some form of “special” leave, but did not specify what types of leave that covered.

Nick Astwick, chief executive of Southern Cross Health Society, said the research shows that one of the ways that businesses promote wellbeing is to offer special leave, which can include wellness leave, a day off for your birthday or a mental wellbeing day.

“In the past two years, this research has shown a small decrease in the number of businesses offering special leave, however, this is tempered with an increase in other workplace wellbeing initiatives such as flexible working, mental health support, vaccinations, Covid-19 support and subsidised health insurance,” Astwick said.

Kiwibank, for example, gives permanent staff a “volunteer” day each year they can use to do good in their community, and workers can apply for work time to study and sit exams in.

Astwick said that during the latest lockdown Southern Cross offered an extended lunchbreak to give staff an extra 30 minutes a day to step away from their desks, get outside or spend some extra time with their family.

Westpac gave all staff an extra day of “covid” leave this year, Figgins said.

Often special leave offered by employers was part of a wider wellbeing programme.

“We’ve also hosted meditation sessions, a webinar with Nigel Latta on mind health, and a steps challenge to encourage people to stay active,” Astwick said.

“Most of these are regular activities for us, we simply ramped them up during lockdown.”

Some employers also allowed employers to buy extra leave by sacrificing salary.

Staff could ‘purchase’ up to two extra weeks of annual leave, Astwick said.

Many employers have given workers time off to get vaccinated.

Some like tech company Universal Communications Group are giving extra leave as a reward to workers who get vaccinated.

Westpac’s wellbeing leave had to be used in the year it was earned, but Figgins said there are no rules around how it was used.

About 4500 Westpac staff would qualify for it.

Figgins said society had become more aware of the importance of wellbeing, and balancing work and family time.

But while the bank was taking a lead on wellbeing leave, it was playing catch-up on parental leave, compared to some of its competitors.

The bank would now pay 26 weeks parental leave, and was introducing four weeks’ paid “partners leave” for new parents.