FNZ’s Paul Johnstone outlines its global family leave benefits
FNZ is a global provider of platforms and technology to wealth management and financial services companies. The firm originated in New Zealand in 2003 and employs 6,400 people across more than 30 locations, including in Australia, North America, Europe and China. We’re truly global.
We don’t have a head office in a specific location, so benefits must fit with this global company feel. I joined in November 2022 with a remit to harmonise benefits and introduce more governance around them.
Like many fast-growth multinationals, employee benefits have been managed locally, based on what’s typical in each country. While local legislation and preferences mean most countries will retain unique benefits, we are centralising the benefits function so that more governance can be built around our approach to reward.
Using size and scale
We will always have an eye on the local market, but we can use size and scale to leverage agreements with suppliers. Where we can have a global arrangement, we will. I’m comfortable working with any supplier, anywhere. As long as they have the language capabilities, breadth of service and adequate governance to ensure it works well for employees.
To support the transition to a more joined-up approach to reward, in March 2023 we rolled out a global family leave benefits package. Available to all employees, it includes 26 weeks fully paid parental leave for both primary and secondary caregivers, up to eight weeks of paid bereavement leave and up to two weeks’ emergency care leave a year.
Previously, family leave benefits were inconsistent across different countries. Aligning them promotes an inclusive and diverse workforce and helps to create a multinational business culture.