Australia and New Zealand Banking Group has warned staff they face reduced bonuses and frozen pay rises if they fail to work from the office at least 50% of required hours, as the major bank moves to enforce its hybrid working policy.
Managers across ANZ received an email Thursday containing attendance records for their staff from Oct. 1 to July 31, with instructions to address employees falling short of office attendance requirements, according to The Australian Financial Review.
The bank has implemented a three-tier performance system that directly links office attendance to remuneration. Staff attending the office less than 20% of required hours will not receive salary increases unless granted an exemption. Those with attendance between 21% and 40% may have their bonuses cut by half, depending on seniority and manager discretion.
“As a people leader, you play a critical role, not just at performance time, but throughout the year,” the email stated. “This includes reinforcing expectations, role-modelling hybrid behaviours, and addressing low attendance early.”
Employees attending between 41% and 49% of required office hours will not face automatic penalties, though managers may review their circumstances.
The attendance policy existed before chief executive Nuno Matos (pictured) began his role in May, but the recent email represents stepped-up enforcement efforts as the bank undergoes cultural restructuring. Matos has been pushing for improved performance and productivity across Australia’s fourth-largest bank.
The policy also extends consequences to management levels. Team leaders who fail to manage their direct reports’ attendance may face performance and pay penalties. Skip leaders, who oversee team leaders, received warnings about “performance and remuneration consequences where a people leader has not managed hybrid working behaviours in their team.”
An ANZ spokesperson confirmed to Sky News the bank’s hybrid working policy has been in place “for a number of years” with clear attendance expectations communicated to staff.
“Our hybrid working expectation is that our people spend at least 50% of their scheduled work time in an ANZ workplace, with the flexibility to work the other half of their time remotely – whether that’s from home or elsewhere,” the spokesperson said.
“Our hybrid working expectation has been made clear to our employees, including potential impact on future remuneration if employees don’t have an appropriate exception.”
The enforcement comes as Australia’s major banks reassess work-from-home policies implemented during the COVID-19 pandemic. Commonwealth Bank provides staff with real-time dashboards tracking office attendance, while National Australia Bank has mandated three days per week for staff and four for managers.
Research by recruitment firm Robert Half found 39% of Australian employers plan to mandate five-day office attendance in 2025, indicating a broader shift across industries.
The ANZ attendance crackdown occurred during the same week the bank faced criticism for an automated email error that mistakenly directed senior managers to return work computers before being informed of redundancies.
One employee, who requested anonymity, told the Financial Review they received the attendance warning despite already being made redundant and preparing to leave the company.
