As an accredited Living Wage Employer, Kiwibank believes all Kiwi should be paid at a rate sufficient to afford life’s necessities, spend time with their loved ones and participate in their community.
We know a secure financial future improves a person’s wellbeing, so we set a goal to support two million Kiwi to do this, starting with our own people. When we spoke to Kiwibankers about what financial security looks like to them, ensuring fair remuneration was one of the top things on their mind. That’s one of the reasons we have recently significantly increased our entry salary at Kiwibank to well above the living wage. This has resulted in an overwhelming response from our people – some were in disbelief, asking if this was a mistake, to others bursting into tears.
Fulfilling our purpose Kiwi making Kiwi better off, doesn’t stop at our own employees though – Living Wage is part of the B Corp Impact Assessment which recognises our commitment to building financial security for everyone that works with us too, such as cleaners and security guards.
The success of all Kiwi takes a collective effort, and balancing profit and purpose is a big challenge for many businesses. Hearing the stories from those who’ve directly benefited from the living wage is the best motivation to keep doing all we can to increase financial wellbeing of our people and those that we work with. For people who might otherwise be paid the minimum wage, being paid the living wage is significant. It can mean buying groceries, putting petrol in your car, topping up your bus card without added stress, or not having to balance working two jobs and being able to spend more precious time with whānau.
This is Kiwi making Kiwi better off.
Chief People Officer, Kiwibank
Principal Partner, Living Wage Movement Aotearoa New Zealand