Health insurance provider NIB is giving staff members $1,200 on top of their basic salary, as payment for working from home for at least four days a week. The payment scheme, already in place, will continue for about a year, according to CEO Mark Fitzgibbon.
The decision is an "acknowledgment that we are effectively renting people's homes," he told The Australian.
Not all employee groups, however, are entitled to the payment scheme since some roles require working on site.
Fitzgibbon also said the policy permits staff members to take on their 38-hour workload for just four days a week, with freedom to determine their work set-up with direct supervisors.
Out of more than 1,000 employees, an average of four in every five staff members said the pivot towards WFH has made them even more productive than before.
"While nobody celebrates the misery and disruption caused by COVID-19, it has presented a unique opportunity to us to re-think old work practices and design principles and ultimately redefine work at Nib," said Martin Adlington, chief people officer at NIB.
"We are very conscious however that the past 18 months is not reflective of the ‘norm’ with varying lockdowns and restrictions across the country impacting our employees’ ability to come together regularly, and we will be constantly tweaking our approach to ensure its fit for purpose once restrictions ease," he said.
"By doing this, we hope to tap into much larger talent recruitment pools with the idea that our flexible working approach will become a drawcard for potential candidates. Our teams are starting to be made up of a mix of people from all different locations which is great for encouraging diversity of thought."