Bank of New Zealand (BNZ) has today announced it has achieved Living Wage accreditation.
Living Wage accreditation means BNZ pays all its people a Living Wage of no less than $22.15 per hour and that all people who regularly undertake work on its premises and on behalf of the company, including suppliers, pay their people a Living Wage.
The announcement comes as banking becomes New Zealand’s first fully living wage accredited industry.
BNZ CEO Angela Mentis says, “We believe everybody should be paid a fair wage that can support them and their families to meet the cost of living.
“Paying the Living Wage is the right thing to do, it supports gender pay equity and helps people lead better lives.
“Suppliers and partners are also part of our wider family. They help us support our customers and if you’re undertaking work on our behalf of BNZ then we want to ensure you’re getting looked after and have what you need to live and pay for necessities.
“We are very pleased to join other good New Zealand businesses supporting this positive change,” says Ms Mentis.
At $22.15 per hour, the Living Wage allows people to pay for the necessities of life by ensuring they can cover expenses such as food, transportation, housing and childcare.