Our benefits
By way of example, employees in Australia enjoy the following benefits:
Pay and Short Term Incentives
IAG’s approach to remuneration is about rewarding and recognising your performance. Your total potential reward is made up of your fixed pay (your base salary and superannuation) and your short term incentive (STI).
- Your fixed pay recognises your capability and performance in your role. Your fixed pay is reviewed annually at which time your manager may recommend an adjustment.
- Eligible employees can participate in an STI plan. STIs ensure you are rewarded for your individual and team contribution to the wider success of our business. STIs are the “at risk” component of your total potential reward.
Flexible Work and Leave Options
Flexible work arrangements and leave options that may be available to you include:
- Flexible working - part-time, job share, variable hours and compressed working weeks.
- The chance to buy 6 weeks extra leave for a shorter working year.
- Leave without pay as a career break.
- Mid Service Leave of 1 week annually on your 7th, 8th and 9th anniversary at IAG.
- Long Service Leave of 2 months after 10 years of service.
- Leave to volunteer, study or care for a family member.
Requests depend on your work circumstances and must be discussed with your manager.
Caring for Family
IAG understands the challenge of balancing work and family so we have benefits to support you, including:
- 14 weeks paid primary carer’s leave plus a welcome back payment of an additional 6 week’s pay on your return to work.
- 3 weeks paid secondary carer’s leave.
- Childcare leave and family sick leave.
- A carer’s room in major sites.
Kids @ IAG
In 2014, IAG extended its flexible working arrangements to include provision of an onsite school holiday program, called Kids-@-IAG. This program has made a significant difference to our people by enabling parents to work through school holidays, satisfied that their children are being well cared for in an accessible and safe location. In 2015 alone we have hosted about 500 children in a number of IAG locations.
Having the children onsite has been of immeasurable benefit for parents and employees alike; it has brought our people closer through making real connections from a life, work and balance perspective and enriching our culture and work environment. Employees without children in the program comment, “You often find yourself smiling and chatting with the children and their parents about what fun and exciting activities they had been doing that day.”
A unique element of IAG’s offering is that the care is provided at no cost to the parents. This presents an annual saving to our families of up to $5,000 per child. Rather than charge our parents for the care of their children, we suggest a donation of $5 per day per child to one of our Workplace Giving charity partners; passing on the benefit to our wider community.
Competitive superannuation
IAG’s superannuation rate of 13% is currently above the legislated minimum and is highly competitive compared to other companies. The IAG and NRMA Superannuation Plan is our own fund and benefits include:
- 6 investments options (4 for Retirement Income Stream members)
- Insurance cover including salary continuance, total permanent disablement and death
- Allocated pensions and transition to retirement income streams for members 55 years and over
Salary sacrificing
Eligible IAG employees can salary sacrifice:
- Qantas Club membership
- Virgin Lounge membership
- Motor vehicles*
- Car parking*
- Union fees
Employee share plan
The IAG employee share plan is a tax effective chance to buy IAG shares through salary-sacrificed payments. You contribute $900 to the cost of your shares over a 12-month period and IAG contributes $100.
Recognition and reward
Our excellence awards programs celebrate the outstanding work of individuals and teams. All high performing employees can be nominated, or nominate others, for outstanding contributions that are consistent with IAG’s vision.
Our formal recognition and reward points system acknowledges individuals and teams for the great work that happens every day. E-cards are one way to acknowledge great work; nominating colleagues for reward points, able to be redeemed for a gift of choice through our catalogue, is another.
Our milestone program acknowledges long-standing IAG employees with a certificate and reward points.
Giving back
IAG’s community programs allow you to give back to your local community via:
- Workplace Giving – an easy and effective way to donate as your contribution is matched by IAG, doubling its impact.
- Volunteer leave – IAG provides one day each year for you to volunteer with our community partners.
IAG products and services
Eligible employees can receive a discount of 50% on IAG personal insurance products from NRMA, SGIO, SGIC and CGU Insurance. This covers motor, home, CTP and niche products like caravans and travel.
Eligible employees can also access a 10% discount on home security alarm systems and a 25% discount on back-to-base monitoring services.
Eligible employees are entitled to free roadside assistance from NRMA Roadside Assistance.
Supplier discounts
Our suppliers offer IAG employees discounts in areas such as technology, health, transport, financial services, travel, leisure, lifestyle and appliances.
13/01/2016